Managing risks and creating contingencies
When we are working on a particular project or initiative the ideal split of our time should be 30% planning, 40% doing and 30% review. Ideally part of the planning stage is to look at the risks involved in the project/initiative and create contingencies. I experienced the following practical technique on the Clinical Leadership in Pharmacy programme (CLIP), which has allowed me to plan more effectively and anticipate problems that could impact on the outcome.
- List each risk.
- Decide whether the likelihood and Impact of each risk are high, medium or low.
- Multiply Likelihood by Impact to find the level of exposure.
From the example below from the Emotional Development project I did earlier this year, the greatest exposure in delivering a successful outcome was the interviews taking too long so I ensured the number of questions I asked were reduced and each question was very specific.
|Interviews take too long||High -3||Med -2||6||Make diagnostic very specific|
|Results are not conclusive||Med -2||Med -2||4||Use qualitative and quantitative info|
|Can’t get interviewees||Low -1||High -3||3||Share benefits to them & impact on patients|