{"id":6815,"date":"2011-07-13T08:38:20","date_gmt":"2011-07-13T15:38:20","guid":{"rendered":"https:\/\/svapm.org\/?p=6815"},"modified":"2011-07-07T20:43:45","modified_gmt":"2011-07-08T03:43:45","slug":"contingency-plan-%e2%80%93-focusing-on-business-value","status":"publish","type":"post","link":"https:\/\/svapm.org\/?p=6815","title":{"rendered":"Contingency Plan \u2013 Focusing on Business Value"},"content":{"rendered":"
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via Flickr by Mark Herpel<\/figcaption><\/figure>\n

Last time, I talked about status reporting, which is commonly required but whose power as a multitool is often overlooked. Today I am going to talk about a tool that is frequently overlooked altogether \u2013 the contingency management plan.<\/p>\n

Projects are initiated for a reason \u2013 in a business setting, to create something of business value. Unfortunately, project managers are often brought in after project initiation and are not fully exposed to the business case and the value of the ultimate deliverable that their project was chartered to create.<\/p>\n

However, as you create the plan, or drive the plan you are handed, you can’t forget that the project deliverables are tied to value. If there are roadblocks to deliverables of value, you need to find a way around those roadblocks that preseves the value. Or, if the value of those particular deliverables declines, you owe it to your project sponsors, and your project team, to look for other deliverables. Either way, you and your team need to maintain focus on the value that the project was designed to create.<\/p>\n

Your risk management plan with contingency and business impacts with value exposed \u2013 often, with actual dollars associated with alternative outcomes and plans \u2013 is another tool that is often underutilized or neglected entirely. It is not unusual for project risks to be listed during the early stages of a project, perhaps for the sake of \u201ccompliance,\u201d but then for that risk log to be set aside for the duration. This is a shame, for risk contingency planning is another tool that is relatively simple to use, even for new project managers, but in experienced hands can function as a powerful leadership tool as well.<\/p>\n

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via Flickr by hunnnterrr<\/figcaption><\/figure>\n

In addition to the actual identification and planning around the risks, the risk contingency plan with business values exposed can be used as a leadership tool to focus the team and to leverage the team’s focused expertise to improve the quality of the project outcome.<\/p>\n

    \n
  • Communicating and focusing the \tteam on value. <\/strong>As noted \tearlier, the project team is often brought in after the project is \tchartered and may not have been exposed to the business case. Even \tif they have, it is very easy for them to become wrapped up in \tprocedures, methodology and superficial deliverables rather than the \tvalue those deliverables are supposed to carry.<\/li>\n<\/ul>\n

     <\/p>\n

    Enabling the team to find true \tvalue-preserving contingency plans. <\/strong>When \tthe team is able to focus on value rather than procedures and \tmethodology for bureaucracy sake alone, they have more freedom to \thelp you develop contingency plans for project risks that preserve \tvalue.<\/p>\n

    PMBOK tells you to incorporate a risk management plan in your project, but doesn’t tell you that communicating the risk and contingency plan containing the business impacts with the team can be a powerful tool in your toolkit for leading the team by influencing. If you can use your risk contingency plan in this way, you emerge as a leader who leverages the power of your team to deliver value, not just a manager who brings in the deliverables on paper.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Last time, I talked about status reporting, which is commonly required but whose power as a multitool is often overlooked. […]<\/p>\n","protected":false},"author":1520,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[7,8,844,10,20,9,853,855,856,849],"tags":[],"class_list":["post-6815","post","type-post","status-publish","format-standard","hentry","category-goals","category-priorities-2","category-integration","category-cost","category-quality","category-risk-management","category-pmbok-process-initiating","category-pmbok-process-executing","category-pmbok-process-monitoring-and-controlling","category-team-leadership"],"aioseo_notices":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/svapm.org\/index.php?rest_route=\/wp\/v2\/posts\/6815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/svapm.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/svapm.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/svapm.org\/index.php?rest_route=\/wp\/v2\/users\/1520"}],"replies":[{"embeddable":true,"href":"https:\/\/svapm.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6815"}],"version-history":[{"count":0,"href":"https:\/\/svapm.org\/index.php?rest_route=\/wp\/v2\/posts\/6815\/revisions"}],"wp:attachment":[{"href":"https:\/\/svapm.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/svapm.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/svapm.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}