Whether renovation or new build, technology project plans and designs are subject to a number of uncertainties no matter how well conceived they may be. From market forces to unforeseen technical or manmade obstacles, all construction projects have elements of risk in their planning and design, and technology projects are no different.
For the technology component of a capital project, Risk Management focuses on reducing the exposure to potential barriers a client faces in the delivery and implementation of technology infrastructure and related systems on time, in spec and within budget.
Developed during the planning and design phases of a project, a Risk Management Plan:
- Identifies potential obstacles to project completion.
- Provides metrics against which to gauge project progress.
- Recommends alternate paths should an identified risk be encountered.
One Risk Management example would be an enterprise that wants to upgrade its wireless (WLS) infrastructure in multiple buildings within the same year. However, the enterprise has not yet:
- Evaluated its existing Telecommunications spaces and backbone infrastructure to ensure that each has the capacity to support ever-increasing space and bandwidth requirements.
- Clearly identified the standards by which the new infrastructure should be designed and constructed.
- Communicated project expectations, goals and commitments of the internal stakeholders to potential vendors.
- Secured enough funding based on the above findings.
A Risk Management plan for this project would identify these and other potential project pitfalls to create a foundation by which the client can make smart, strategic decisions. Getting this strategic advice early in the planning process is critical to avoiding unnecessary cost and schedule overruns during project construction.
— Joe Blasz, Higher Education Practice Group Leader, Project Manager and RCDD