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In our firm’s pursuit of new business, we found that clients were more
interested in hiring us to conduct cutting-edge, risky project than
low-risk, boring but important “bread and butter” projects. Our
firm’s record of successfully managing innovative projects
resulted in many clients paying more attention to the benefits and
less attention to the risks of such projects because they assumed
we would handle the risk. Since we could not know all of the risks
that a project might face within a client’s organization – such as
risks arising from the corporate culture, unresolved past internal
conflicts, and attitudes and abilities of individual managers – we
would not agree to conduct a risky project before we worked with
them to perform a study to develop a risk management plan. We
had to be intensely diligent in identifying the risks, determining to
our own satisfaction that those risks could be managed, and
making sure that the client understood the risks and its own
responsibilities in risk management. Our firm had to be convinced
that there was a high probability of project success or it would not
contract to conduct the project