Risk Management

Are You on Top of What Is Vital to the Stakeholders?

People management is a risky business. Often, companies suffer major project failure following the loss of a skilled professional. In this article at PMWorld 360, Mustafa Hafızoglu identifies the risks associated with people and how to overcome them. An effective way of addressing problems is the key to prove you are on top of what is significant to the stakeholders.

Spread Awareness

The possibility and influence of talented individuals may differ from project to project. Not all project managers prioritize focusing on their staff. However, in order to conquer the emerging challenges of project management, be wary of the inevitable risk of losing talented employees. The following factors can reduce the possibility of people-related risk:

Attrition Rate

A company’s work culture, employee engagement policies, and talent acquisition practices reflect on employee retention rates. So, it is the responsibility of the project managers to wisely manage the team.

Team Lead

Sometimes, employees prefer to switch jobs not because of the company but because of the managers they are working with. Lack of leadership and soft skills can cause the loss of talented employees. So, to avoid the probability of losing staff, managers must support them.

Priority Setting

Many organizations handle multiple projects using a limited number of team members. Sometimes, a couple of projects demand high-priority attention. Thereby, projects with low significance lose resources. Indeed, it is a risk organization takes. To avoid slipups due to limited availability of resources, consider these two factors:

  • Develop a robust framework to preserve knowledge in the organization.
  • Establish a swift process of hiring and training new staff members.

To prove your efficiency to the stakeholders of managing multiple projects at once, stay upbeat in staff retention. Employees are the most critical element of a complex task. Once you learn to manage them, delivering successful projects becomes easy. Click on the following link to read the original article: https://www.pmworld360.com/blog/2021/06/01/the-one-unescapable-risk-of-managing-projects/

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