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Project Risk Management in Developing Economies involve measures of Political Influence and a Proactive Contingent Plan.
Project abandoment and failure can be avoided or mitigated in developing economies if political inconsistencies, foreign exchange fluctuactions, and inflationary trends are correctly identified and analyzed as risk factors. The Project Manager has a major responsibility of identifying influencers that can help guarantee continuity in funding and support of enterprise projects, especially after a change in government.
Also, there is a need to put in place adequate contingency countermeasures to address price increases that could arise from poorly managed foreign excahnge regimes and infaltionary trends - imported equipment and Materials needed for the project should be well provided for in the contingency response plan.
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