Which risks are more likely to be overlooked if we don't take an engagement lifecycle view versus a project view?

When focusing solely on a project view rather than an engagement lifecycle view, several risks can be overlooked. Here are some risks more likely to be ignored:

**Stakeholder Misalignment**: A project view may overlook the broader engagement with stakeholders over time, which can lead to misalignment in expectations and objectives. Ongoing stakeholder engagement is crucial to ensure that the project continues to meet their needs.

**Change Management**: Projects often focus on delivering outputs rather than managing the change that comes with them. Without considering the entire lifecycle, the risks associated with user adoption and resistance to change can be underestimated.

**Sustainability of Outcomes**: A project view may concentrate on immediate deliverables, neglecting the long-term sustainability and impact of the project outcomes after completion. This includes considering whether the created solutions will continue to be effective and relevant.

**Knowledge Transfer**: The risks associated with the loss of knowledge over time can be overlooked. An engagement lifecycle view encourages continuous documentation and training, while a project view may treat knowledge transfer as a one-time activity.

**Cumulative Impact of Changes**: Projects often involve multiple phases and iterations. An engagement lifecycle perspective helps assess the cumulative impact of changes over time, identifying risks that may arise from previous decisions or adjustments.

**Feedback Loop**: In a project-centric view, the focus is often on delivery rather than continuous improvement. Engaging stakeholders throughout the lifecycle fosters a feedback loop that can help identify risks early and adjust strategies accordingly.

**Reputation and Relationship Risks**: Short-term projects may overlook the importance of maintaining relationships and reputation management over time. Ongoing engagement helps mitigate risks related to trust, credibility, and partnership dynamics.

**Resource Allocation Over Time**: Projects often focus on immediate resource requirements, neglecting how ongoing resources will be managed and allocated throughout the lifecycle, which can lead to resource constraints later.

**Regulatory and Compliance Risks**: Regulatory changes can happen over time. A project view may not account for evolving compliance requirements that can impact the project's success or lead to fines and penalties.

**Exit Strategies and Transition Planning**: A project view may not consider how to effectively transition out of a project phase. This includes planning for handover, succession, and ongoing support.

Embracing an engagement lifecycle perspective allows for a more comprehensive understanding of risks, leading to better decision-making and enhanced project success.

Update (2024-09-24):
Adopting an engagement lifecycle view instead of a strictly project-focused view can significantly enhance the identification and management of various risks. Here are several risks that may be overlooked when focusing solely on a project view:

**Stakeholder Engagement Risks**: A project view may concentrate on immediate deliverables and timelines, while an engagement lifecycle view considers the ongoing relationships and communication with stakeholders, which can affect project success.

**Change Management Risks**: Projects often focus on individuals’ performance during the delivery phase but may overlook the impact of change management over time, including how stakeholders and end-users adapt post-implementation.

**Cultural and Organizational Risks**: A lifecycle approach recognizes that projects exist within an organizational culture that affects their success. Changes in management, shifting corporate priorities, or cultural resistance can pose substantial risks.

**Customer Satisfaction Risks**: A project view may prioritize on-time delivery and cost management, potentially neglecting user feedback and satisfaction in the long term, which can lead to dissatisfaction and reduced adoption.

**Regulatory and Compliance Risks**: Legislative and regulatory environments can change during the life of an engagement. A lifecycle perspective helps to stay updated with these changes and assess continued compliance beyond project completion.

**Sustainability and Long-term Value Risks**: Projects may focus on short-term outcomes, ignoring the long-term implications of decisions made during the project. A lifecycle view encourages consideration of sustained value and benefits realization over time.

**Technology Evolution Risks**: In a project-centric approach, focus may narrow on the chosen technology stack, without considering future technology trends and the adaptability of solutions or systems over their entire life.

**Resource Allocation and Skill Gaps**: A narrow project scope might overlook the need for ongoing skills development and resource allocation during the engagement lifecycle, resulting in inadequate capabilities for future operations.

**Escalation of Issues**: Focusing on short-term project delivery might ignore the overall risk environment, leading to issues being addressed reactively rather than proactively managed over time.

**Integration and Interdependencies**: A project view might isolate the project from understanding the wider organizational interdependencies and how risks in other areas or projects could affect outcomes.

By adopting an engagement lifecycle view, organizations can more holistically assess risks, not only leading to better project outcomes but also ensuring alignment with long-term strategic goals and sustained stakeholder satisfaction.

Update (2024-11-11):
Taking an engagement lifecycle view as opposed to a purely project view can expose a variety of risks that may otherwise be overlooked. Here are some key risks that are more likely to be identified and managed when adopting an engagement lifecycle perspective:

**Stakeholder Misalignment**: An engagement lifecycle view emphasizes continuous stakeholder involvement and feedback. Without this, projects can overlook shifts in stakeholder priorities or misalignment on objectives, leading to project outcomes that do not meet expectations.

**Change Management Risks**: An engagement lifecycle approach encourages ongoing communication and adaptation to changes in the organizational environment. A project view may ignore the importance of change management, leading to resistance and a lack of buy-in from users.

**Customer/End-User Satisfaction**: By focusing on engagement throughout the lifecycle, organizations can better understand and respond to the evolving needs and expectations of users. A project-centric view might miss issues related to usability and satisfaction that only become apparent after deployment.

**Integration Risks**: Engagement lifecycle perspectives often consider how various components of a system interact over time, which can reveal integration challenges. A project view might focus solely on completing tasks without considering long-term system compatibility and interdependencies.

**Resource Allocation and Capacity**: Lifecycles involve assessing resource needs over time, accounting for talent availability, knowledge transfer, and training. A narrow project view may overlook the long-term resource implications, leading to burnout or personnel shortages.

**Performance and Outcomes Monitoring**: An engagement lifecycle approach includes continuous monitoring and evaluation of project outcomes against objectives. A project view may neglect ongoing assessment, resulting in failure to identify issues that could compromise success after project completion.

**Adaptability to Change**: The lifecycle approach promotes an iterative process, allowing for adjustments based on real-time feedback. A fixed project perspective lacks this adaptability, increasing the risks of obsolescence due to changes in technology or market conditions.

**Sustainability and Long-Term Viability**: A lifecycle view considers issues such as maintenance, support, scalability, and sustainability. A project view may prioritize immediate deliverables, risking future operational challenges or the viability of the solution over time.

**Regulatory and Compliance Risks**: Engagement throughout the lifecycle helps in identifying and addressing compliance needs that may evolve. A project-based approach might lead to overlooking critical regulatory requirements that change post-launch.

**Cultural and Team Dynamics Risks**: An engagement lifecycle perspective encourages ongoing team interactions and cultural assessments, helping to identify risks related to collaboration, morale, and team dynamics that may not be evident in a project-centric view.

By adopting an engagement lifecycle approach, organizations can proactively manage these risks and enhance project success, alignment, and stakeholder satisfaction.