During the lifetime of a project issues will occur and risks may be identified. They will arrive in an ad hoc manner and will need to be captured in a consistent and reliable way. Any member of the project, corporate or programme management, or other stakeholders may raise an issue or risk.
Before making a decision on a course of action, each issue or risk should be registered and assessed for its impact.
This may involve dealing with issues informally, if this is an option a note should be made in the daily log. However, for issues that need to be managed formally it is important it is properly documented. If action is required, guidance should be sought from the project board.
A stage should not exceed tolerances agreed with by the project board. The project manager can only take corrective action or maintain the status quo as long as the stage is forecast to be completed within the tolerances set by the project board. This applies wherever any corrective action within the project manager's control would not save the stage from going beyond the tolerances agreed.
Some activities for this process are examining the stage plan to define the extent of the deviation and define the overall impact of the deviation. Determing the options for recovery and assess them against the business caase and assessing the impact of these recovery options against the stage plan considering individuals or groups with experience and skills to assess the impact.
