Risk is a natural part of business, and very few wins don’t have some element of risk involved.
What is prudent is understanding the risks, and either avoiding unnecessary ones, or, at the least, minimizing their effects.
Many times, the real risks are those you don’t see coming, and for that, it is helpful to spend some time gaining an understanding of the risks for your specific business during a relocation. This is important because you could be heading into unknown waters, considering businesses only move every 5-10 years, and you “may not even know what you don’t know” (thanks to Donald Rumsfeld for that).
The risks come in many forms, and may manifest themselves as incurring unexpected charges, experiencing setbacks in the schedule and even disruptions in service. The big one, however, is an inability to return to normal business.
For a company that stores material or finished goods, here are some of the risks and their potential impacts:
|1. Using uncertified racking||1. Fines, closure by Ministry of Labour|
|2. Failure to confirm sprinkler coverage||2. Rejection by Fire Dept, loss of insurance|
|3. IT/Phone disruption||3. Business continuity|
|4. Don't use Requests for Proposal (RFP)||4. Unexpected charges|
|5. Don't have solid project plan||5. Nasty surprises|
|6. Accept standard movers insurance||6. Inadequate coverage|
A useful exercise is to gather your key players and engage in a series of “what if” scenarios and workshop strategies to deal with them. A second initiative would be to speak to colleagues who have recently weathered a relocation and ask them what went wrong, or at the least, what they would have done differently.
Understanding your risks will go a long way to reducing any impacts they may have on your business.
If you are planning a move and are interested in assessing your readiness, we offer a No-Charge Starter Session. During this Session, we will help you complete a self-assessment, outline the project elements necessary to enjoy a disruption-free move and review common threats, risks and pitfalls associated with relocations.
Our next article will be posted in 2 weeks and will address “The Importance of Rigorous Process Review”.
For more information about The Smooth Move Program™, contact us at email@example.com or call 905.454.8529.