RISK MANAGEMENT IS AN IMPORTANT PART OF PROJECT MANAGEMENT

Risk Managment

Project without risk is a myth. All project contents risk factors and these risk factors come into existence due to uncertainties. There is always a possibility that something might go wrong or some unknown factor could impact the project objectives. Therefore the technique of managing risks plays an important role in project management. Risk management is a process of identifying the risks, getting prepared for it and with the help of it concluding the project with result oriented ending.

Identification of potential risks in advance gives you a benefit to get prepared for it. It makes you draw an effective plan to mitigate or avoid these upcoming risks and helps you run the project smoothly. This process gives your project sponsors and stakeholders an assurance that the project will meet the set expectations giving them positive outcomes.

It prepares you and your team to face and overthrow the risk effectively.

  1. Helps you Plan

Planning is an essential part of risk management. It helps to identify the list of potential risks, their probability of occurrence, their impact on the project and strategy to tackle these risks. This plan assists in drawing project estimation to decide project cost, time and schedule.

Due to it, the project manager is able to identify internal and external risk factors that may hinder a project and further makes a strategy to avoid and mitigate them.

  1. Accelerate Results

Risk management process helps you eliminate the hurdles that enable you to complete the project on time. This makes you meet your deadline and targeted objectives. If you do not apply risk management strategies to your project then your project gets exposed to a number of unpredictable problems and it becomes vulnerable to further manage it. By managing risks on time, helps you to maximize profits and minimize expenses on tasks that have no ROI.

As it is said, ‘Stitch in time saves nine’. Identification of risk factors and addressing them on proper time helps you accelerate positive results.

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Risk Assessment

Once the risk factors are identified, they are then prioritized, as per their strengths and impacts they could cast on the project. They are then classified as Major, Moderate and Minor risk factors. The major risks are first tackled followed by Moderate and then Minor Risks.

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How to crack an Interview effectively

First drill this thing in your mind that “We all are salesman” and cracking an interviewing is like selling your resume to the HR person.

Here are a few examples which will tell you, how all of us are natural salesman;

An employee asking for a raise by threatening the boss to resign is selling his services to get paid more by creating urgency.

For instance a mother who is trying to convince her young son to marry a girl of her choice – Here she is selling the the concept of having wife to her boy.

A kid asking for PS3, is selling an idea of purchasing PS3 to his parents.

A good looking dashing muscular fellow wandering around girls hostel,  is selling his personal appearance.

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So lesson number one “Remember we all are salesman first”.

In a supermarket we generally tend to go for the products with attractive packaging. In this case, the appearance of the product attracts us and later on the communication over it. However, when both these elements appeal us, we then finally make the purchase.

Similarly, appearance and your communication skills are very important. These two things make a first impression and tempt the interviewer to appoint you.

As we all know communications are done either verbally and non-verbally. The verbal communication hits the conscious and the nonverbal communication manipulates the sub-conscious.

Physical appearance falls into a non-verbal form of communication. Your apparel tells people what kind of person you are.

Example:

If you are in a formal dress it says “Yeah! I am here to do some business.”

And if you are wearing something semi-formal then it says “I do business in a chilled out way”. 

A casual dressing gives a mix kind of impression. It either suggests;

  1. The person is super chilled
  2. The person does business staying in his/her comfort zone
  3. The person is here to get a salary and just enjoy
  4. The person likes to be in his/her comfort zone to give better productivity

Now in such scenario, it depends on the organization where you are going for an interview.  It is famously said, “In Rome, do as the Romans do.” Similarly, our dressing must go hand-in-hand with the culture or the personality of the organization. It helps the interviewer relate with you and relate you with the organization.

So lesson number two dress the way the company is.

It is very necessary that you initiate a conversation before the interviewer does. It makes you the driver of the conversation and it shows that you are very confident and positive.

It can be started with a firm handshake and a steady eye contact. Another important thing – copy the body language of your interviewer. If that person is sitting upright and leaning forward, then use the same style. This helps to develop a comfort zone between you both and the interviewer starts relating with you which helps you to enter his / her favorite zone.

So the lesson number three is “Study the interviewer” “Prepare yourself accordingly” and “Then mind your body language”

The interview is not like a game of cricket where the interviewer delivers you some questions and then you bats them off with your answers.

But it’s like a speedy game of football. Here both of you are opponents, who are in a rush to grab the ball and strike a goal.  Therefore, make sure that you grab the ball first and take the control over the conversation.  You need to also continuously address counters and then start counter questioning the interviewer.

For instance, you can ask the below set of questions to begin with;

  • Feed me with some in-depth details of the job profile?
  • How was the previous guy doing his / her job in this profile, this will surely help me understand the role better.

If the interviewer asks you about your hobbies then you too can ask similar questions to him / her. This will surely help you build the rapport and mutual understanding.

So lesson number four the most important one

 “Be the driver of the communication aka interview and finally Win the Job”.