| How do companies deal with the fact that the rules | | | | four levels must be completed in sequential order to |
| of business are constantly changing? While it is not | | | | be effective for project preparation. Of course there |
| only technology that is constantly changing, | | | | may be several steps or stages to each level. |
| technology surely is one of the greatest impacts. The | | | | First you must Identify the factors that will have an |
| rules are changing and the dynamics are changing. | | | | influence, negative or positive on the success of your |
| Coming up with a way to deal with change is a | | | | project. Second you will need to assess the impact |
| primary focus of business. Businesses should realize | | | | of each factor or influence on the project. Next you |
| that managing risk an intuitive exercise for most | | | | must conceptualize or prioritize a solution to respond |
| individuals. | | | | to all factors and impacts. Once you have completed |
| In business there are two terms you hear more and | | | | these three levels of due diligence you are ready to |
| more all the time. Risk Management and Change | | | | begin the process of putting together a plan. |
| Management are everyday realities in businesses of | | | | Level 1. Identify |
| all types and sizes. Businesses large and small are | | | | Level 2. Assess |
| scrambling to come up with a change management | | | | Level 3. Conceptualize |
| plan to deal with the new world of commerce. Every | | | | Level 4. Plan |
| aspect of business that is impacted by technology is | | | | Following these 4 levels will provide you with the |
| changing so fast that it is almost impossible to keep | | | | basis to get started on your plan. Just remember |
| up. Businesses mobilize to come up with a strategy | | | | there is much more to it. |
| to deal with the latest changes but by the time they | | | | The key to effective risk management and change |
| get set to announce their plans it is too late and that | | | | management is to have a system that has |
| trend has passed. | | | | measurable results. Risk management or change |
| Companies have to evolved from static operating | | | | management for any project can be tied into a |
| procedures to a dynamic, evolving, ever changing | | | | milestone schedule to assess and measure risk as it |
| plan of action. Flexibility is paramount. Changeability a | | | | applies to scope schedule and budget. |
| must. This is true for all kinds of business whether | | | | Risk management is essential to success in business. |
| you are selling a product, providing a service or just | | | | Most of us are very well equipped to manage risk |
| about anything you can charge a fee for. | | | | and change effectively. Our everyday activities |
| When you are putting together a risk management | | | | prepare us well. You can find numerous parallels in |
| plan or change management plan there are four basic | | | | everyday life. |
| levels of due diligence that should be followed. The | | | | |