Determine and assign who is responsible for the preliminary document analysis (e.g., project manager, risk manager, financial controller)

This analysis aims at understanding the project’s inherent and potential risks, assessing the financial implications, and determining the optimum strategies to tackle those risks. The completion of this analysis requires a high degree of expertise and understanding of the work scope which begs the question: Who is precisely responsible for this? Is it the Project Manager, Risk Manager, or Financial Controller?

Responsibility of the Project Manager in Preliminary Document Analysis

The Project Manager’s primary role lies in orchestrating the overall project flow and ensuring that everything aligns with the pre-determined project objectives. They are responsible for creating project schedules, coordinating team efforts, and managing the budget.

In the context of preliminary document analysis, project managers are primarily involved in the identification of potential project risks, planning risk responses, and overseeing risk controlling activities throughout the project. Their keen understanding of the project’s scope and objectives is pivotal in identifying risks associated with project scheduling, budgeting, and staffing.

For instance, in scheduling a risk assessment, a Project Manager may identify potential risks to the project timeline, such as delays in supplier deliveries, unforeseen technical challenges, or personnel changes. They would then be able to merge this analytical insight with their strategic capabilities to propose suitable risk response strategies.

Responsibility of Risk Manager in Preliminary Document Analysis

Whereas Project Managers have a broad bird’s eye view of project management, Risk Managers delve deeper into the project’s risk domain. They implement and manage the risk management processes, ensure that risk is minimized and potential impacts thoroughly investigated and prepared for.

The Risk Manager’s role in preliminary document analysis is thus distinct yet complementary to the Project Manager’s. They delve deeper into each identified risk, holistically studying its potential impacts on the project and assigning appropriate response strategies, such as risk transference, mitigation, acceptance, or avoidance. They continue to monitor and track these risks closely throughout the project’s life cycle.

As an example, a Risk Manager may probe deeper into the supplier delay risk identified by the Project Manager. This may include securing additional logistics, setting up redundant supply chains, or buffering the project plan against potential supplier disruptions.

Responsibility of Financial Controller in Preliminary Document Analysis

A Financial Controller’s primary role is to manage company finances and financial risks, therefore, they bring a more financial perspective to the preliminary document analysis process.

Financial Controllers play a significant role in assessing financial risks and impacts during the preliminary document analysis. They examine cost estimates, review budgets, and provide precise financial impacts of identified risks on the project’s triple constraints: scope, time, and cost.

To illustrate, the Financial Controller could examine the financial impact of supplier delay risks. This could involve analyzing costs associated with logistics, potential cost overruns resulting from schedule delays, or costs of alternative suppliers, etc.

Comparison Table for Clarity

In conclusion, the responsibility for preliminary document analysis is not alone attributable to one particular role but is a concerted effort among the Project Manager, Risk Manager, and Financial Controller. Their complementary roles ensure a comprehensive and robust risk management framework for the project, balancing project objectives, risk preparedness, and financial planning.

This collaborative approach ensures the project can move forward with a clear understanding of the potentialities and uncertainties, and the necessary measures to manage these, thereby maintaining project integrity and improving chances of success.