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How to manage your business impact risks

Your project can be a risk TO your business both during and after implementation. These business impact risks are not able to be eliminated or reduced as they the result of your planned project outcomes. But they need to be identified, assessed and managed. 

You need to know where and how your project impacts your customer, suppliers, partners, the organization and other projects. This Guide provides you with a simple mechanism to assess each project’s business impacts and the associated risks - so action can be taken early (instead of too late).
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If you’ve ever seen a project ‘fail’ due to 

  • customers being in uproar
  • suppliers being off-side
  • staff complaining that ‘things don’t work’ or that things are now worse than before..

you’ll understand the importance of ‘business impact risks.

This simple approach focuses both project and governance teams’ risk attention outside the immediate project to focus on threats from the project to the business and its market environment.

This Guide covers 28 common business impact risks that, if they exist, need to be known and managed from day-1. 

For each impact risk we provide four risk levels so that a comparable risk profile can be generated that shows where and how much business risk exists across the portfolio.

Failure to manage business impact risks results in delivery failure outside the project. If you are to generate the value available from your time and effort expended on your project you need to manage these risks.

Our approach makes it simple for anyone to do this assessment and then manage the identified risks. 

  1. Understanding your project’s business risk profile
  2. How to manage your business risks
  3. The end-to-end business risk management process
  4. How to assess your project’s business risks
  5. How to facilitate a business risks assessment workshop
  6. How to compute your project’s business risk profile
  7. How to govern your business risk profile
  8. How to manage the portfolio’s business risk profiles
  9. How to plan your risk management approach
  10. How to generate a risk management action plan
  11. How to manage your business risks
  12. How to report business risks
  13. How to govern business risks
  14. How to conduct a post-project business risk review
  • Project team - to understand the nature and types of ‘systemic business impact risks’ and how to manage them
  • Governance team - to understand the nature of these systemic risks and how to govern them
  • PPMOs - to understand the nature and contents of the resultant risk profiles that can be used to map the portfolio’s overall risk profile
  • Auditors - to understand systemic risk management
  • Project Investment Committee/Board - to understand systemic business risks
  • Risk Management Officers - to understand how systemic business risks are managed
  • Ensures 28 potential business impact risks are considered early in the project lifecycle
  • Specifically addresses the risks of the project to the business
  • Generates a standards-based risk profile that allows cross-portfolio comparison