AUTHOR: Nerea Murua Sarriegi
(Sarrera hau euskaraz ere erabilgarri dago)
When we start to carry a project out, it is very important to identify the risks we may find at the initiation phase of the project. These risks can be caused by different factors. Sometimes there may be risks that depend on the people or institutions that are outside the project-team. That is, risks that don´t depend entirely on the project-team itself. In these lines I will explain the points that we have to take into account when we have to manage with this type of risks, that is, risks that depend on the third party.
In all the projects there are some activities and tasks that don´t depend totally on the workmates; Thus, it is necessary to identify the tasks and to design a management plan, in order to assure that these risks don`t become a problem for the project. We will have this situation, for instance, when we have to use somebody else’s products or services.
As mentioned before, the first step we have to take is to identify these types of risks; once we do this, we will have to design a management plan to face these risks. To do this, first of all, a person (or people) who will be in touch with the third party must be chosen; and it will be his/her responsibility to carry the task out and to do an exhaustive monitoring of the risk.
It is also very important to give priority to the tasks that are under the control of third party, in order to start working as soon as possible, because we can`t know how much time will be needed to complete the task. Thus, if we start late to work the task out, it is possible for the task to take too long and to be unfinished by the time the end of the project is approaching. This can bring a very serious problem: to take a decision in a rush or to come to an agreement which is not appropriate for the project.
Moreover, apart from starting quickly working the task out, it is necessary, just in case, to have in mind some other options or possibilities to face the risks and to order them according to their priority-level. This way, if the first option fails or if the workmates don´t come to an agreement, there will be some other possibilities to take into account; thus, when the first choice fails, we won´t waste time in thinking and considering some new options and in taking decisions.
To sum up, the steps that must be taken are the following ones: to identify the tasks that depend on the third party and to assign a responsible person for each task, to give priorities to each task and to start working them out as soon as possible. Apart from all this, we always need to have more than one possibility to be considered because the first option may fail.
Finally, if you want to know more about this matter or issue, you will find more information in the following link; information about the third party applied to business out of the hand of the global network Crowe Horwath: Managing Third-Party Relationship Risk
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