Environmental Monitoring

The risks that fall under the environment class are those about which the project manager can do little. Some risk items might even be granted the sobriquet "Act of God." However, should an event represented by such a risk occur, the project manager needs to maximize her lead-time to react. The other type of environmental risk is rooted in the industry environment, competition, and government action. These types of risk require that the project manager be cognizant of them even if she can do nothing to prevent their occurrence. Thus we suggest the behavior Monitor to represent keeping abreast of the environmental risks in order to maximize the possibilities for response. The monitor behavior is relatively straightforward. Unfortunately, it can also be time consuming. Under the Environment risks (see Exhibit 2) we see those things that relate to the industry, the company, and the company's position in the industry. This monitoring responsibility requires the project manager to be knowledgeable about what is going on "out there" and how it might affect the company and hence the project. For example, the IS project manager should be aware of the potential of a corporate takeover, assess possible impacts, and establish strategies to deal with those impacts. One way of gaining this knowledge is to read the industry trade press rather than the computer trade press. Industry conferences are another excellent source of monitoring information. Many companies have internal industry and marketing seminars. If a project manager can understand the product and market from the perspective of the company's own marketing force, it will enhance the project managers understanding of the environment at large.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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