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How do you identify and address risks or issues that arise during a program or project?

As a TPM, identifying and addressing risks and issues is a critical aspect of ensuring project success. Here are the steps you can follow to address risks and issues:

  1. Identification: The first step is to identify potential risks and issues. This can be done through various means, such as project status meetings, regular check-ins with project team members, and thorough review of project documentation.

  2. Assessment: Once identified, the next step is to assess the impact of each risk or issue. This involves determining the probability of the risk or issue occurring, and the potential impact on the project timeline, budget, and scope.

  3. Prioritization: After assessing the risks and issues, the next step is to prioritize them based on their impact and likelihood of occurrence. This helps to focus resources and attention on the most critical risks and issues.

  4. Mitigation: The next step is to develop a plan to mitigate the risks and address the issues. Depending on the nature of the risk or issue, it may be necessary to take action to address it. This may involve developing contingency plans, re-allocating resources, adjusting the project timeline, or adjusting the project scope.

  5. Monitoring and Tracking: After the mitigation plan is in place, it's important to monitor and track the progress of the mitigation efforts. This helps to ensure that the risks and issues are being effectively addressed, and to identify any new risks that may arise.

  6. Communication: Finally, it is important to communicate the status of risks and issues to all stakeholders, including project team members, senior management, and customers. This helps to ensure that everyone is aware of the status of the project and any potential impacts on the project timeline, budget, or scope.


Other tips:

  1. Continuously monitor and review

  2. Develop contingency plans

  3. Continuously reassess and adjust the risk management plan

  4. Seek feedback and input

  5. Analyze data and metrics

  6. Establish a process for risk management

  7. Address issues promptly.

FAQ 10: FAQ
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