Top 10 Free Project Management Resources
Projects – small, medium, or large – carry risk. All large organizations manage a diverse portfolio of projects at any one time, whilst others only run a handful of projects. Irrespective of how few or many projects an organization has, it is imperative to have a clear and defined approach to managing both an individual project and a large portfolio of many projects.
The risk within projects – if not assessed and understood – has the potential to adversely impact both an individual project itself and the financial health of the organization. The business world is littered with failed projects that took down an organization.
The good news is there is a plethora of free resources available to management projects and project risk. Click through to the 52 Risks website here for selection of the best.
BBC News Article on Risk Management
BBC News ran a great article this month on risk management. The article, ‘The risk management experts now in high demand‘, highlighted the value of employing or seeking our experienced risk specialists to guide business leaders on planning and decision-making, in the unstable and unpredictable world all businesses operate in today.
It has been pleasing to see the increase in investment in risk management over the past decade or so across many businesses and industries.
There are four reasons why an investment in risk management will pay off:
• Losses Avoided
• Maintaining the License to Operate
• Business Planning
• Building an Efficient Organization
A Risk Management Map and Compass
Not all organizations have access to the specialist risk resources. Start-ups, SMEs and other small businesses as a result have an unstructured, if not non-existent, strategy for managing business risks. This is like sailing a boat without a map and compass – or in today’s terms – without specialized navigational equipment.
The 52 Risks framework seeks to address this issue by providing the map and compass for all sizes of enterprises. With all 52 Risks on one page, directors and management can seek to identify and then consider the business risks their organization will face.
The Mapping Template goes one step further providing a template to document the relevant risks. It can be used to comment on the risks, assign responsibility, and develop action plans.
Check out the 52 Risks Resources Center for free documentation.
Country Risk: American Companies that Failed in China
The increased focus on geopolitical risks following the war in Ukraine and resultant impact on many western businesses operating in Russia has, once again, turned attention to the risks and rewards of operating outside home markets.
The allure of fast-growing markets, increasing revenue and portfolio diversification tempts many companies to contemplate overseas expansion. The risks however are numerous. The article and infographic from the Virtual Capitalist here details a long list of US companies that failed to be successful in China.
China Cuckoo by Mark Kitto is a particularly good book for an, at times, entertaining read on doing business in China in the 80s and 90s. You can buy it here on Amazon.