When I first started managing projects, something struck me as odd. We spent a lot of time identifying and analyzing risks in the first few days and weeks. Then we dedicated significant time during the project to managing key risks, reviewing and revising strategies as needed. Yet no one considered how those risks could impact the cost, schedule, or scope of the project. Everyone expected everything to be “fixable,” or they viewed it as a failure by the team and project manager. But without a risk-ready resource plan, teams were left scrambling to adapt.
But managing risks pulled people away from their tasks, and when a risk occurred, teams spent even more effort on recovery and contingency actions. Organizations always expected teams to adapt and adjust to protect the scope and schedule, despite fixed costs.
We did consider resources as part of risk planning and management—kind of. There was the standard risk that a key team member might be out of the office unexpectedly when they had tasks assigned. But no one really took notice; it was just “one of those things” that might happen.
Effective People Risk Management
I would like to tell you that today, things are vastly improved, but, well, they’re really not. Many organizations still react to resource risks after they occur, rather than proactively anticipating potential problems. Today’s business pace and tight margins create the potential for significant issues.
To ensure that your risk-ready resource plan supports long-term success, you must take several steps::
- Understand your single points of expertise. These are the individuals and functions where only a few people, perhaps just one, can perform the work. These are specialist functions not always needed, but with minimal contingency reserves, you must actively manage utilization and allocations to prevent overwork, frustration, and burnout.
- Understand resourcing trends. The skills an organization needs to deliver projects are always evolving, especially in the technology space. Maximizing lead time minimizes the risks of future resourcing problems.
- Actively manage resource allocations. Initial assignments may seem reasonable, but actual work often diverges from plans, creating bottlenecks and imbalances in resource allocation. Both of these represent immediate risks that need to be addressed before they cause problems.
None of these steps are difficult to achieve if you manage your discretionary investments through a world-class project portfolio management (PPM) solution such as Sciforma Vantage.
Implementing a risk-ready resource plan with an Integrated Solution
The key to optimally leveraging a PPM platform to manage resource risks is integration. In particular:
- Integration with a well-maintained HR information system for accurate and current data on resource numbers, skills, certifications, and more.
- Integration with work management solutions for plan-driven, agile, and hybrid approaches, ensuring accurate, complete, and up-to-date data on planned allocations and actual utilization rates.
With PPM already handling strategic planning, these integrations—combined with powerful reporting and analytics—provide portfolio, program, and project managers, as well as resource owners, with the insights needed to identify, prioritize, and manage resource risks.
It also enables effective contingency actions by leveraging resource reserves, rebalancing allocations, and adjusting project schedules. Do this, and your resourcing issues and risks will decrease, driving up overall portfolio performance.
If you want to learn more about how Sciforma can help you with resource management and sustainable productivity request a demo. One of our team will happily show you the ins and outs of our industry defining software. Or, request a product tour and you can explore the advantages of Sciforma Vantage at your own leisure.
