As a project manager in a team, several responsibilities regarding the successful execution of projects rest on you. With resources made available and team members to work with, you are expected to deliver the projects within all set limits.
In some cases, though, elements that were not present at the start of the project may arise. When this happens, it causes a change in the general flow of the project and sometimes is major enough to throw the project off track.
However, it would help to know that setbacks do not always have to arise unanticipated in the course of projects. With the project management tool, the RAID log, project managers can reduce the possibility of issues springing up without adequate preparation to handle them.
What are RAID logs? How do they help project managers nearly envisage issues before they occur? Are there other benefits to having RAID logs onboard? How do RAID logs in project management work? In the course of this article, we will see answers to these questions regarding RAID logs.
What are RAID Logs?
RAID Logs in project management do not refer to a hardware tool on the market. For starters, the term RAID stands for Risks, Assumptions, Issues, and Dependencies. By extension, RAID logs are sheets that hold vast information on several projects.
These said sheets act as an all-in-one repository for Risks, Assumptions, Issues, and Dependencies relating to projects, hence the name, RAID log. The format in which information is entered into the RAID log makes it act as an effective tool with which project managers undertake risk management.
Features of RAID Logs in Project Management
Before we delve into the benefits of this risk assessment tool, let us first have an overview of a standard RAID log.
As seen in the image, the RAID log consists of four columns, each addressing one of the focuses of RAID in project management. What do these four components mean?
1. Risks
Risks that arise in the course of project management, as in every aspect of the word risk, refer to occurrences that would impact the completion of projects negatively if left unchecked. Therefore, one could say that the risks recorded in the RAID log are a form of envisaged mishaps.
Each risk is graded by the product of its likelihood to occur and the impact it would have on the project. This value is the RPN (Risk Priority Number). Examples of risks that should be identified at the beginning of projects are:
- Resource continuity – When resources that would be used in the course of the project run out midway, finding a new channel to acquire said resources from would cost money and time.
- External risks – Risks that might stem from an ever-changing industry, like one where technological innovations and methodologies are constantly changing, should equally be accounted for.
- Regulatory risks – Unintentionally breaching laws in the region while completing a project is another risk that could arise. Following this, a dependency would be to familiarize oneself with the standing laws in the niche of the project.
2. Assumptions
Assumptions are factors that are expected to suffice during the project execution cycle without the necessary evidence to back them up. For example, it is assumed that all members of the team and resources would be available during project execution. Sometimes, however, assumptions can pave room for risks to arise if they are not regularly reviewed in the course of the project cycle.
3. Issues
Issues are risks that have come into play. For example, a risk like a security breach highlighted at the beginning of the project becomes an issue if left unattended. In many cases, failure to properly handle issues would reflect on the general outcome of the project. When these issues, anticipated or not, occur, the schedule, budget, and goals of the project are very likely to experience changes.
4. Dependencies/Decisions
Dependencies are factors that must be put in place at the start of a project to ensure a nearly seamless workflow. For example, certain projects may require some tech-savvy team members. Ensuring that this requirement is met is paramount to effectively executing that project, and thus, is a dependency.
However, in some cases Dependency is replaced by Decisions. Decisions in this case refer to certain project-relevant decisions that must be made.
Benefits of RAID Logs
- With the aid of the RAID dashboard, project managers can grasp relevant project reports at a glance. This aids both the project manager and team members to keep only the relevant bits of information in mind.
- Putting the likelihood that risks could occur into consideration aids the manager of the project to prepare for said risks, and by extension, prevent the impeding impact that these risks would have had on the project.
- When concerned shareholders notice the regularly updated RAID log, it assures them that every bit of the project is being constantly monitored rather than being neglected.
How to Get a Raid Log as a Project Manager
To create a RAID log for your team, all you need is a spreadsheet. If you would rather not create a log from scratch, you can alternatively make use of an existing template.
How do RAID Logs in Project Management Work?
With your RAID log ready to be put into use, you should take note of the following while making use of this digital log –
- First, as the project manager, ensure that the log is created before the start of any project.
- Project data under each category are placed into one of five grades. These grades are: Critical, high, moderate, low, and negligible. An instance where a delay in supply is reported would fall under an issue. The impact, which this issue would have on the completion of the project would determine if it would be categorized as high or critical on the RAID log.
Wrapping Up
Having an active RAID log during a project is of several benefits to the manager of the project and every other party involved. The log, however, must not be neglected midway through any project. All outlined factors on the RAID log must be reviewed to ensure that elements like risks and assumptions do not become issues. This should be done during regular team meetings.
By updating data on the RAID log till the completion of a project, you can keep the entire course of the project organized. And to a large degree, you as the project manager would not be met with surprise mishaps while the project is ongoing.
