Question

1. From the week 4 Reading List by Mallak, Kurstedt and Patzak, “Planning for Crises in Project Management” (found in eReserves), would each of the four tools (Table 1) be of use in project management in general? How might each be used?  

Answer 1

Risk Analysis: Used to identify potential and even existing threats and understand the impact of each individual threat. It also assists project managers to manage the risks and minimize financial burden or schedule slips during a project. Once risks are identified, PM’s can use the risk analysis to calculate the likelihood and impact if a risk is to be realized (to happen). Once the value or level is associated with a risk, the PM can focus on threats with higher impact, whether it is financial or non-financial, looking at the mid and high level risks as priority. A Risk analysis can also be used to manage the risk; avoid, transfer, accept or mitigate to reduce its impact.

Contingency Plan: A contingency plan is also known as an alternative plan used if expected results/schedule/budget are unsuccessful as originally planned. Due to project uncertainty and even as a tactic in risk management, a strong, and thorough contingency plan can be the difference between project success and failure. Unfortunately, a contingency plan is frequently considered low priority and not utilized to the extent that is essential to proactively plan alternatives/options that can lead a project to success.

Logic Chart: Logic charts are able to provide a high level overview utilizing project flow logic to identify and evaluate task dependencies all with extreme flexibility taking into account time as well. Logic charts are the basis used to make and white procedures and guidelines to follow if a crisis/issue happens. Logic charts force PM’s to thoroughly think and plan out reactions to a potential challenge. Frequently when a crisis occurs, PM’s can’t go through all that was planned and follow the logic chart and guidelines step by step. An advantage of creating these procedures prior to an event occurring allows the PM to review decisions and the plan and utilize the skills when necessary.

Tabletop Exercise: Tabletop exercise is essentially role playing how to handle and react if potential challenges and risks are realized. Two aspects that are the main focus in tabletop exercises are the decision making and action-taking that should occur during an actual crisis. Planning and practicing possible reactionary scenarios can assist to alleviate the pressure and stress that is caused when challenges arise unexpectedly. PM’s can use tabletop discussions to come up with alternative plans, and receive input/feedback from the team on how to manage issues.

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