In this article, the authors asserts that Projects are built on assumptions. Without them, it would be impossible to proceed. But some may lead to unanticipated or even tragic consequences. The root cause of catastrophic failures is often traced to flawed assumptions or poor risk management. Best practices for managing risk and assumptions include:
- Create an assumptions log and risk register.
- Proactively recognize assumptions and risks.
- Actively manage the assumptions log and risk register.
- Communicate outcomes to appropriate stakeholders .
- Periodically review assumptions and risks.
Addressing project assumptions and risks is one of many topics in our Project Management Peer Groups. Let us know if you would like to join our discussions to learn from and share with your colleagues.