Risks, stakeholders, communication and reporting

Risk management

A risk is an uncertain event that could affect objectives (an issue is a risk that has happened).

1. Identify: brainstorm with the team, review past projects, check assumptions and dependencies.
2. Analyse: probability × impact; rank in a risk register.
3. Plan responses: for threats, avoid (change the plan), mitigate (reduce probability or impact), transfer (insurance, contracts), accept (with a contingency plan). For opportunities: exploit, enhance, share, accept.
4. Monitor: assign owners, review regularly, watch triggers.

Example: risk "the payment vendor's API isn't ready on time" (probability medium, impact high). Mitigation: weekly check-ins with the vendor, a mock API so our team isn't blocked, a fallback to the existing payment flow for launch.

Stakeholder management

Identify stakeholders, analyse their power and interest, understand their expectations and concerns, and plan engagement: manage closely, keep satisfied, keep informed or monitor. A RACI chart clarifies who is Responsible, Accountable, Consulted and Informed for key deliverables.

Communication

• A communication plan: who needs what information, how often, in which format.
• Status reports: overall status (RAG: red/amber/green) with honest reasons, progress against milestones, upcoming work, risks and issues, decisions needed. Bad news early is far better than bad news late.
• Meetings with a purpose, an agenda, the right people and written action items with owners and dates.

Earned value basics (for classic project interviews)

• PV (planned value), EV (earned value: the budgeted value of work actually completed), AC (actual cost).
• Schedule variance SV = EV − PV; cost variance CV = EV − AC.
• SPI = EV ÷ PV; CPI = EV ÷ AC (below 1 means behind schedule or over budget).
• Example: PV ₹10 lakh, EV ₹8 lakh, AC ₹9 lakh → SPI 0.8 (behind), CPI 0.89 (over budget).

Leading teams and handling conflict

Build trust, clarify roles and goals, celebrate wins, and protect focus. For conflict, address it early and privately, focus on interests rather than positions, and look for collaborative solutions; escalate only when needed.

Certifications and career path

Freshers: CAPM (PMI), PSM I or CSM (Scrum), Google Project Management Certificate. Later: PMP, PRINCE2, SAFe. Typical path: project coordinator → project manager → senior PM/program manager → delivery head or PMO lead. Coordinators who are organised, communicate clearly and follow through get promoted fast.

Check yourself

• Write a risk register entry for "key developer may resign mid-project".
• Calculate SPI and CPI for PV 50, EV 40, AC 45.
• Draft the five sections of a weekly status report.