10 Key SAP BW Project Risk Management Tips
Have you ever tried to eliminate SAP project risk? If so, you'll know that it's difficult because large projects are inherently risking, with the failure rate running very high. So what do you do? Many people have found success by using advanced, tried and proven project risk management techniques. But there are a few things you should know before you implement a risk management system to ensure project success. This post will tell you what you need to know to make sure you select a risk management approach that will let you successfully deliver SAP Projects while managing the big three of project management.
If you're looking for a project risk management system, the best method to ensure you end up with something that lets you manage risk is by looking for these things:
- Make sure your project risk management system lets you identify and manage risks prior to starting your project. If it doesn't, you'll have trouble with integrated project risk management.
- Ensure your project risk management system has a direct integration to your project management system so you can actively track not only the presence of risks, but as well, your response.
- Any good SAP BW Project Risk Management should let you quantify risk. This is important because it is impossible to eliminate all project risk. You need to quantify risk so you can prioritize and take the right actions at the right time.
While not necessary, some great bonus features of a great Project Risk Management System are:
- List of Typical Risks encountered in every SAP Project
- Automated linkage back to the SAP Global Risk Management system
- Management alerting capabilities so that high risk projects get more attention
- Ability to add newly identified risk
- Risk Coaching as part of the integrated system
- Visibility to all parties of all risk, including Customer, SI, SAP and 3rd Party vendors
- Ability to benefit from organizational ‘Lessons Learned’ from other projects across the SAP eco-system.
Now that you know the 10 Key SAP Project Risk Management Tips, you're ready to implement your SAP System without worrying non-managed risks.
Do You know how many projects fail that have a budget of over 1 Milliond USD (way more than should).
Lonnie D. Ayers, PMP
President, SAP BW Consultant, Inc.