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4.11.2024

Project development pitfalls – Inadequate risk management

Have there been any surprises during the project that could have been managed or minimized with an analysis made during project development? Project development is interesting, challenging, and you have to get a lot done in a short amount of time. The people involved are enthusiastic and optimistic about everything that lies ahead, and when they get started, the project offers something new and interesting.

A touch of realism is needed and the risk mapping of the different areas of the project from the pre-examination to the risks during the implementation itself. When realized, the risk may affect the project schedule itself with multiple effects and increase costs. In the worst case, the start of commercial use may be delayed. Sufficiently thorough risk mapping also gives credibility to the implementation of the project and is a good addition to the information provided to the decision-makers. The flip side of the words "risk" or "threat" is the word "opportunity", which may have gone unrecognized before and thus helps the project progress.