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Managing Project Risks: A Practical Guide for Project Managers

Dawn Lang

  • June 10, 2025
  • Leadership, Management, Project Management
  • Uncategorized
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Photo by: Yan Krukau via Canva

Let’s be honest, every project has its “uh-oh” moments. But what if you could spot those issues before they turn into full-blown disasters? That’s where risk management comes in. Think of it as your project’s early warning system.

Here’s a simple, practical approach to tackle risks and keep things moving forward:

Kick Things Off with a Risk Assessment

Start by gathering the right people—your go-to problem solvers.

When I led a system rollout, I brought in the tech lead, a couple of frontline users, and the finance manager. Each person had a different lens for what could go wrong.

Get the group to brainstorm potential issues:

  • Could we run out of budget?
  • Might a key vendor miss a deadline?
  • Will the new system be too complex for users?

Then ask:

  • How likely is it to happen?
  • What’s the impact if it does?

Next, choose how to respond:

  • Ignore it (if it’s super unlikely).
  • Prevent it (if it’s avoidable).
  • Prepare for it (if it needs a backup plan).

Prevent Problems Before They Happen

If a risk has serious consequences, take steps now to avoid it.

Maybe your team flags that users might not get enough training. Instead of waiting for confusion to erupt, build in extra sessions or create cheat sheets ahead of time.

My two cents? Always be proactive. It’s easier to prevent fires than put them out.

Be Ready to Respond When Things Go Sideways

Even the best plans hit bumps. Make sure your team knows what to watch for and what to do if something veers off track.

In one project, a supplier suddenly backed out. Luckily, we had a secondary vendor lined up. Costs went up a bit, but we stayed on track.

Have a plan:

  • Who takes the lead when a risk becomes real?
  • Do you extend the timeline? Tweak the deliverables? Shift resources?

Act fast and communicate clearly.

Keep Revisiting Your Risks

Risk management isn’t a one-and-done deal. After each major task or milestone, take a fresh look:

  • Any new risks?
  • Any old ones that no longer apply?

In one training project, everything seemed smooth…until the testing phase. That’s when we discovered participants didn’t have the right system access. It wasn’t an issue early on but became critical later. A quick reassessment saved the launch.

You don’t need a crystal ball to manage project risks. You just need a thoughtful, flexible, and ongoing approach.

By spotting issues early, planning ahead, and staying adaptable, you’ll be ready for whatever comes your way.

Smooth projects don’t just happen, they are managed. You’ve got this!

Additional Resource: How to Be Prepared for Project Risks [Video]

Looking for more tools for real-world project challenges?

Check out Langevin’s Practical Project Management workshop. You’ll learn how to plan, schedule, assign resources, and manage risks—before they become problems. Get hands-on with the tools that help keep your projects on time, on budget, and moving forward.

Find the author on LinkedIn

Dawn Lang

Dawn has been a master trainer with Langevin since 2015. She completed a Bachelor of Science degree in Elementary Education, followed by a Master’s in Information & Learning Technologies/Instructional Design. Dawn's passion for teaching started in third grade and continues today! As a trainer, she strives to inspire and empower people to reach their full potential. She believes fun and laughter, connection, and respect are key to the experience. Dawn enjoys spending time with her family, playing tennis, biking, being in the mountains, and reading by the pool or on the beach.
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https://www.linkedin.com/in/dawn-lang-980aaa19

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