There is absolutely nothing wrong with making an assumption that fundamentally reduces project risk… provided that all the project stakeholders are aware and in agreement with it. Undocumented or ambiguous assumptions can jeopardize an otherwise good project plan. One of the most frustrating things to deal with as a key project stakeholder is discovering late in a project’s life cycle that the project was derailed due to uncommunicated assumptions. Fortunately, this type of situation is fairly easy to avoid. There are some sound and fairly simple steps for determining the validity of assumptions (i.e., whether they should be categorized and dealt with as risks), and ensuring that they are properly communicated and accepted by key project stakeholders. This topic is covered in my book “Project Risk Management: A Practical Implementation Approach” and should be taken to heart – for “doing more with less” does not mean to do less and end up with a project outcome that is unacceptable.
The objective of this series of posts is to provide insights into the breadth of Holistic Project Risk Management, especially as it relates to satisfying an organization’s objective to “Do More with Less” – which, if done well will improve the organization’s business success. The plan is to provide 2 posts per week over the course of 10 weeks. Thus, there will be time in between topics to comment and/or reach out to the author for clarification or further requests. Past posts will be assembled and stored on the Build2Scale.net website for future reference.
My text book “Project Risk Management: A Practical Implementation Approach” can be purchased via the following link: