When you're managing multiple projects, risks happen. But knowing that risks are a reality is one thing; getting ahead of those risks so they don't impact your project goals is a lot more challenging.
The key to managing risks within and across projects is to have a clear, organized, current way to track all the elements that impact your project's health. Enter, our favorite tool: the CRAID log.
In this article we'll explore how teams of any size can use our a CRAID log to get the visibility, accountability, and communication they need to predict and move beyond project risks, and continue making progress towards their goals.
Change Management, Risk Management, & Project Management
Let's clarify the difference between risk management, project management, and change management. Project management is a framework of knowledge, skills, tools, and techniques to meet project goals. But we know that implementing a new project management process isn’t just about the tools you use; it’s about guiding your team or organization through that change.
Change management focuses on the people side of that change. This involves working with your team to increase adoption, understanding, and utilization of the new PMO or work management system.
How does Risk Management fit into this? Risk management deals with identifying, evaluating, preventing, and mitigating risks that can impact a project's outcome. Risks can be positive or negative, and a RAID log is a common approach used to capture and manage them.
A thorough PMO needs both risk management and change management to be effective. Fortunately, the CRAID log channels both of these concepts into one comprehensive tool.
What is a RAID Log?
A RAID log is a central register that captures risks, actions, issues, and decisions in one place. It serves as a single source of truth for tracking and managing project-related information, providing visibility across different projects.
The key to a RAID log is that it isn’t static; rather than simply establishing the project schedule, plan, and goals at the start, using a RAID log allows teams to continuously track risks, issues, actions, and decisions as they come up. This gives a more accurate understanding of the project needs and development, and helps teams to get ahead of risks before and as they are happening.
Pro Tip: We often recommend using a (C)RAID log instead of meeting minutes, because they are more action oriented. Rather than simply cataloging project status and conversations in the meeting, try using a RAID log to build momentum with your meetings.
From RAID to CRAID
The inclusion of "change" or “change request” in the RAID log is a game changer for visibility and project traction. Change can happen in any area of a project, such as scope, resources, or schedule. To stay up to date and accurate on the development of a project, it’s essential to track all changes, not just those that trigger formal change requests.
While change requests are traditionally viewed as a separate and more formal process than the RAID system, the reality is that changes often impact risks, issues, actions, and decisions. Think about it: if a change request comes into your project, it will require at minimum a decision (is this change request approved?) and an action (make the change). If the change request impacts project scope or resources, then it may also create risks or issues related to the project goals and timeline.
So rather than wait to track changes until they require formal requests or budget updates, start tracking every change. You’ll gain a better understanding of how the risks, actions, issues, and decisions are connected to project changes, and you'll have more context for the project's health overall.
What's the difference between CRAID and a Project Plan?
While a project plan typically outlines the project's scope, features, deliverables, and milestones, a CRAID log complements it by capturing the factors that allow or impede those project parameters. It provides a separate space to track these elements, ensuring better visibility and proactive management of risks and changes that may not fit within the structure of a project plan.
Incorporating CRAID in your project management toolkit can provide valuable benefits, regardless of the size of your team or project. It promotes better visibility, proactive risk management, and change management, leading to improved project outcomes.