Mitigating Risks and Minimizing the Cost of Failures

  • Develop a risk mitigation document and keep it updated throughout the engagement.

  • Watch for the most common risks associated with offshore outsourcing, include these:

    • External risks such as security, privacy, and IP loss; inadequate vendor capabilities; excessive turnover; poor knowledge transfer; and failure to meet joint responsibilities

    • Internal risks such as unrealistic expectations, lack of organizational preparedness, and negative staff impact

    • Personal risks such as impact on your career, lifestyle, and reputation

  • Develop a mitigation strategy for each risk you identify. Continuously review your progress toward minimizing the risks, for example, during a monthly project review. ...

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