Jordan MacAvoy is the Vice President of Marketing at Reciprocity Labs and manages the company's go to market strategy and execution. Prior to joining Reciprocity, Jordan served in executive roles at Fundbox, a Forbes Next Billion Dollar Company, and Intuit, via their acquisition of the SaaS marketing and communications solution, Demandforce. He brings to the team nearly two decades of marketing and business development experience helping to grow early-stage, venture-backed companies. Jordan is a graduate of Boston University.
When managing a project, some of the key expectations will be to remain on schedule, within budget, and in line with company expectations. Meeting these goals sounds easier than it actually is, and risks can further complicate the progress of both simple and complicated tasks. This is why any responsible project manager will prioritize risk management. By understanding the threats facing your project, you can plan in advance to mitigate damages while remaining on track with your larger goals.
Risk management involves identifying, analyzing, and responding to threats that may affect your project. Therefore, managing risk should be a critical part of project planning. By thinking about what could possibly go wrong, you'll be better prepared to respond to risk without derailing the entire project.
A primary challenge that project managers face is how to smoothly incorporate risk management into their daily workflows. Indeed, limited resources and tight schedules might tempt you to overlook risks, which is why understanding the relationship between project management and risk management is critical. While project management focuses on defining a goal and implementing steps to achieve that goal, risk management involves identifying and mitigating threats that may affect progress. These two processes work hand in hand to ensure that you deliver timely and quality projects for your organization.