Engagement RAID

The RAID tab on engagements facilitates the management of Risks, Actions, Issues and Dependencies.

Risks

In every engagement, it's vital to address potential risks that could impact your project's success. Risk management involves identifying, assessing, and controlling these risks. Develop a risk management strategy to steer clear of pitfalls and deliver a successful project with confidence.

Click the + Add button to create a new risk, or click on a risk from the list to manage it.

1. Describe the Risk

Identify potential risks associated with the project, such as information security breaches, partner non-performance, inefficient processes, team conflicts, technology failures, or unforeseen events.

2. Assign a Category

Categorize risks to better understand their nature and impact. Use categories like Information (privacy, security), Partners (vendors, contractors), Process (timelines, compliance), Team (skills, resources), Technology (reliability, compatibility), or Other (unique risks).

3. Assess Impact and Likelihood

Evaluate each risk's potential impact on the project and its likelihood of occurring. Assign impact ratings like low, medium, or high, and likelihood ratings like low, medium, or high, based on historical data, expert opinions, and project complexity.

4. Develop a Risk Management Strategy

Assign a risk owner and create a strategy to mitigate identified risks. Develop contingency plans for high-risk items, implement measures to mitigate risks, and establish clear communication plans with clients and partners.

5. Set the Status

Keep track of risk status by categorizing them as Open or Closed. Regularly update and review your risk management strategy to ensure its effectiveness throughout the engagement.

With effective risk management, you can confidently tackle challenges and deliver successful projects. Be proactive, and watch your project thrive!

Actions

There are many steps to the engagements workflow. In order to manage these steps, advaise.app recommends creating and assigning actions. There are a number of standard actions already created. You can update or delete these as appropriate. Use this screen to create and assign new actions specific to your organisation or engagement.

Creating actions against an engagement has two benefits. One, it creates, assigns and tracks actions that need to be completed. Two, it creates a record for future reference. This way, any staff member in future can see details of previous actions related to this engagement.

Click on the + Add button to create a new action or click on an existing action to manage it.

Start by giving the action a meaningful title.

Actions are assigned a category. These categories can be used for filtering actions.

Assigning an owner add the action to the owner's dashboard.

It's a good idea to set a due date and enter any comments that will help the team to understand what they need to do.

The status defaults to "In Progress". When the action has been completed, update the status to "Completed" or "On Hold", both of which will remove the action from dashboards. Use the comments box to capture the outcome of the action.

Issues

Effective issue management is a critical aspect of successful project delivery. With advaise.app's RAID log, you can maintain a comprehensive record of all project-related issues and take the necessary actions to address them promptly.

Click on the + Add button to create a new issue or click on an existing issue to manage it.

Fill in the following details:

• Title: Provide a clear and concise title for the issue.
• Category: Select the issue's category from the dropdown list.
• Description: Describe the issue in detail, including its impact on the project.
• Owner: Choose the team member responsible for addressing the issue.
• Status: Update the status to closed when the issue has been resolved.
• Issue Management: Explain how you plan to manage and resolve the issue.

Dependencies

Effective dependency management is a critical aspect of successful project delivery. With advaise.app's RAID log, you can maintain a comprehensive record of all project-related dependencies and take the necessary actions to address them promptly.

Click on the + Add button to create a new dependency or click on an existing dependency to manage it.

Fill in the following details:

• Title: Provide a clear and concise title for the dependency.
• Description: Describe the issue in detail, including its impact on the project.
• Owner: Choose the team member responsible for addressing the issue.
• Status: Select either Open or Closed.
• Notes: Capture any additional notes related to the dependency.

Capturing and managing dependencies in the RAID log is important for the following reasons:

• Risk Mitigation: Identifying dependencies helps project managers anticipate potential risks. If a dependent task is delayed or encounters issues, it can have a cascading effect on other tasks or the overall project timeline. By capturing dependencies in the RAID log, project managers can proactively plan for contingencies and mitigate risks associated with these dependencies.
• Resource Planning: Dependencies often involve the allocation of resources, whether it be personnel, equipment, or specific technologies. By understanding dependencies, project managers can allocate resources more effectively and ensure that they are available when needed.
• Timeline Management: Managing dependencies is crucial for creating and maintaining an accurate project timeline. If dependencies are not well understood or are overlooked, it can lead to delays and disruptions in the project schedule.
• Communication: Dependencies impact collaboration among team members and stakeholders. When dependencies are clearly documented in the RAID log, it facilitates effective communication. Team members can understand how their tasks relate to others, and stakeholders can be informed about potential impacts on the project.
• Issue Resolution: If a task encounters issues or delays, understanding its dependencies allows project managers to quickly assess the potential impact on other tasks. This enables them to prioritise issue resolution and allocate resources to critical areas, minimising the overall impact on the project.
• Change Management: Dependencies are essential considerations when changes occur within a project. Whether it's a change in scope, resources, or timelines, understanding dependencies helps in evaluating the broader implications of the change and making informed decisions.

Once you've entered the dependency details, click 'Save' to add it to the RAID log. You can continue to manage, edit, or mark dependencies as closed as the project progresses.