It feels like a typical day at a school in the Midwest, until the alarm blares just before lunch. Having been through this many times before, the students stop what they are doing and line up at the door. The teacher then leads them out the door and around the corner to the hallway with no windows. Students file down the hallway, face the wall, sit down on their knees, clasp their hands behind their necks and bend over with their heads facing the wall. They don’t know if it is just another drill or an actual tornado in the area, but they know what to do. They have been doing these drills since kindergarten.
In the world of project management, storms come in many forms. Just like the severe weather drills I experienced growing up in Indianapolis, being prepared for potential “tornados” in your project is crucial. I’ve learned that risk management is akin to being prepared for unpredictable weather. In this insightful journey through Secret #6, we’ll explore the art of risk management and how my early experiences with severe weather in Indianapolis shaped my perspective on handling project risks.
The Parallels:
Tornado Preparedness and Risk Management:
Growing up in Indianapolis, Indiana, severe weather was a part of life. We were taught how to respond to tornadoes, both at home and in school, with regular drills to practice our response. These drills were like the risk assessments in project management—they prepared us for potential disasters.
My Tornado Fascination:
In Indiana, tornadoes were an ever-present danger during the summer and early Fall. I vividly remember a few close calls when I was in the vicinity of tornado touchdowns. The train sound, the wind noise and flying debris, and the sheer power of nature were simultaneously terrifying and awe-inspiring. I wanted so badly to see what was going on but I knew the danger and stayed in my safe spot. I’ve been very lucky to have been bypassed on several occasions of tornado touchdowns.
Despite the fear, I found myself fascinated by these incredible natural phenomena. I’ve seen every episode of Storm Chasers and I follow the weather channel and several Storm Chasers on social media. And can you guess my favorite movie? Twister!
The experience of being near a tornado taught me a valuable lesson: you can’t control nature, but you can certainly be prepared. This lesson echoes in the corridors of project management when it comes to dealing with risks. We may not control every variable, but we can mitigate the potential impact by preparing and having a robust risk management strategy.
Utilizing Effective Risk Management in Project Management:
- Identify and Assess Risks – The Storm Watch: Just as meteorologists monitor weather patterns, project managers need to identify potential risks. Conduct a thorough risk analysis, identifying possible “storms” that could hit your project.
- Prioritize and Plan for Mitigation – The Storm Preparation: Prioritize risks based on their potential impact and likelihood of occurrence. Develop a detailed mitigation plan for each identified risk, outlining steps to minimize its impact on the project. For instance, when I moved to Atlanta, I was told that the likelihood of a tornado was very low. Tornados were not common in metro Atlanta back in 1995; however, the impact of a tornado would have been high if it occurred in the area of preparations for the 1996 Summer Olympic Games. Of course, over time, the occurrence of tornados in Atlanta has increased, so were the prioritization done today, it would look differently.
- Implement Mitigation Strategies – Riding Out the Storm: Execute the mitigation strategies outlined in the plan. This may involve reallocation of resources, adjusting timelines, or implementing contingency measures to ensure the project stays on track despite the potential risks. Sometimes you may even choose to do nothing. If a risk is so unlikely to occur or if it is so far out of your hands that there is nothing at the time that can be done, you may accept the risk and deal with it when and if it arises.
Conclusion:
Just as my early experiences with severe weather in Indianapolis taught me the importance of preparedness, navigating the stormy seas of project management requires a well-thought-out risk management strategy. Risks are the tornadoes of the project world, and just like with tornadoes, being prepared can mean the difference between minor inconveniences and major disasters.
So, as you embark on your project management journey, keep the lessons of risk management in mind. Identify, assess, prioritize, plan, and execute your risk management strategy with precision. In doing so, you\’ll be better equipped to ride out the storm and ensure the safety and success of your project. Just like surviving a tornado, surviving project storms is all about being prepared.
