When we talk about projects, we often picture big corporate plans, software systems, or construction works. But projects don’t always have to be that big. Even something as simple as moving from one city to another can be treated like a project. And with every project, whether small or large, comes a cycle: you start, you plan, you execute, and eventually you close it. At every stage, risks show up—some known, some completely unexpected.
Now, let’s walk through one such example.
John’s Relocation Project
John is relocating from Chicago to Atlanta for a new job. What sounds like a straightforward move actually involves plenty of risks. He has to think about the employer, the house, the movers, his journey, and of course, his personal belongings. Each of these brings uncertainties.
At the start phase, when things are least clear, John lists the possible risks:
- His new employer might change their mind after he resigns. (Low risk)
- The people living in his new apartment may not leave on time. (Medium risk)
- The movers might damage his furniture. (Low risk)
- The movers could delay his delivery by over a week. (Moderate risk)
- He could meet with an accident on the drive from Chicago to Atlanta. (Low risk)
Notice how varied these risks are—some are about people, some about timing, and some about sheer chance.
How John Handles Risks Early
John doesn’t just list risks. He also thinks of ways to deal with them:
- For the employer risk, he keeps his options open by staying in touch with other companies he interviewed with. If the offer falls through, he at least has backups, though he might lose his deposit and face a short period of unemployment.
- For the housing risk, he checks the availability of extended-stay motels in Atlanta. This way, if his apartment isn’t ready, he has a roof over his head.
- For damage to furniture, John studies the moving company’s insurance policy. He photographs his belongings, seals and numbers boxes, and keeps everything documented.
- If the movers are late, he again relies on his motel research and accepts that it could mean some extra cost.
- For the travel accident risk, John uses an online map, sees the 11-hour drive, and decides not to risk fatigue. He plans a night halt in between.
By doing this, he reduces the medium risks and keeps the low ones in check.
Planning Stage: Adding More Brains
Once the project moves into planning, John calls in help. He asks Dion and Carlita to sit with him and think of risks in detail. Together they create a risk breakdown structure.
Instead of vague ideas, they categorize risks under avoidance (RA), sharing (RS), reduction (RR), and transfer (RT). This helps them understand which risks can be prevented, which can be shared with others, which can only be reduced, and which can be transferred to insurance or contracts.
Implementation: Things Start Moving
As the move actually begins, risks start becoming clearer. Some are no longer relevant once tasks are completed. The overall risk drops because uncertainties reduce.
But the risk plan isn’t thrown away—it is constantly updated. Finished tasks are ticked off. New risks (if any) are added. Contingency budgets are reviewed. If extra funds are no longer needed, they can be released for other purposes. If new problems crop up, money is set aside again.
This stage is about being alert and practical.
Closure: Wrapping It All Up
At the end, John reviews everything. Did the risks get handled? Were backup plans used? Did the movers deliver? Was the stay at a motel needed?
He makes a checklist, closes pending agreements, and documents the lessons learned. Every project needs this reflection because it builds experience for the future.
Also, not all projects have the same risk pattern.
- High-tech projects face most risks in the early phase.
- Projects with expensive equipment see risks during procurement.
- Global projects may run into political or legal issues toward the end.
Lessons From the Case
- The project life cycle is always a part of the broader product life cycle. A product’s cycle runs from the idea until retirement, while projects are short bursts of effort to create or upgrade that product.
- Knowing where a product is in its cycle helps businesses decide when to innovate or change direction.
- A project manager who understands risk management, cost, time, and communication can avoid crises and keep everything on track.
- No single project life cycle model fits all. The best model depends on the clarity of requirements, project size, cost, system complexity, and the skill set available.
And yes, having certifications like PMP strengthens these skills, but the real edge always comes from hands-on practice.
