From the course: Project Management Foundations: Risk

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Dealing with volatility in a project environment

Dealing with volatility in a project environment

From the course: Project Management Foundations: Risk

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Dealing with volatility in a project environment

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- Former governor of the US State of Alabama William C. Oates said, "Rapid change of conditions in all human affairs bring unexpected results." And you guessed it, rapid change introduces volatility to projects and those unexpected results create risk for our projects. Common factors that change on a project are key stakeholders, available skill levels, sponsor expectations or concerns, technology, and risks that come to fruition. It's rare to deliver a project and not have to deal with at least one of these changes because we deliver projects in a world of volatility, but it doesn't have to drive you crazy. Being prepared for a bit of volatility can help you deliver your project and keep your sanity. Here are my top tips. Keep a one-page project purpose and status summary up to date. I've found that when key stakeholders, especially your sponsor, changes, the quicker you get to them and discuss the project, the fewer changes and issues you'll have to deal with. Without your summary…

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