My 4 Steps To Manage Inevitable Risks

Thanos was inevitable until the Avengers were prepared for him.

And I can say the same with business problems.

Say, for example, you are developing a product for a client.

Or maybe you are the client who's getting the product developed.

Then encountering problems is almost inevitable.

How you handle these problems is important now.

Because the best-case scenario would be to avoid those problems.

But we don't know the future.

And even after everything you could have done, there are still problems you face in projects.

Then you can have something we call "Project Escalation Management"

This is a structured approach through which you can ensure issues are resolved efficiently and effectively.

Why Does Project Escalation Management Matter?

During any product development, you are likely to face a couple of issues:

-> Technical Problems or Unexpected Changes

Issues that require immediate attention can derail your project if not managed properly.

-> Misunderstandings:

Miscommunications between the team and clients, or other stakeholders, can lead to confusion and delays.

-> Slow Response Time:

Delays from any party involved can stall progress and affect the project timeline.

Couple of things are happening here.

And all of them are never good for the project.

Where Most Companies Go Wrong

Most companies handle these issues as they arise without a structured plan.

And that leads to chaos and inefficiency.

Here are some common, yet flawed, approaches that I have seen:

1) Most companies address problems without a clear protocol.

And that causes confusion and slows down resolution times.

2) While communication is important, a lot of companies have excessive meetings.

And that can be unproductive and time-consuming.

3) Even for quick communication, companies send emails.

And emails are always so slow, they get lost, or be overlooked.

And that makes them an unreliable method for urgent issue resolution.

What Can You Do Instead?

Well, I suggest a couple of steps here.

I have seen the following strategies work quite well for product development companies:

1) The First Step is to have a clear Step-by-step procedure in place.

That procedure should ensure everyone knows what to do and who to contact when problems arise.

2) You should always assign Specific Team Members to Escalation Points:

So designate team members responsible for addressing issues at different escalation points.

This ensures accountability and clarity in the process.

3) Also, categorize Issues by Priority:

High-priority issues should be addressed immediately to minimize impact on the project.

4) The last thing is to keep detailed records of all issues, their escalation paths, and resolutions.

This helps in tracking patterns and improving processes over time.

Example Table

Escalation Procedure Table

Responsibilities Table

Priority Categorization Table

Documentation Table

You can access these tables by clicking this link here?→?Google Doc

Now once, you do that, you essentially have a good system in place.

-> Problems get resolved faster, keeping the project on track

-> Everyone knows their roles and responsibilities, reducing confusion

-> Designated team members are responsible for addressing issues.

-> Potential issues are identified and managed before they escalate.

Final Notes

Take a moment to review your current escalation management strategies.

Are they clearly defined and effective?

And if not, then you need to have something in place.

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