Is your motorsport project risky?

Josh Smith blog entry

Continuing on from our discussion last month, we will discuss the time planning element involved in planning a project, including risk and contingency planning, methodology and testing.
Time planning is a key element in your project in order to make it a success. Plan the project in detail together with an understanding of what elements to your project will pose a risk to the completion of each step is key. You will need to decide what contingency plan will you have in place in order to avoid losing valuable time.
The time planning will require some form of time plan or Gantt chart to accurately show each step of your project, including key deliverables (submission/assessment dates), tasks and scope for risk and contingency. Good templates can be found on the Microsoft Excel and Project software packages. Others can also be found on the internet.
So what is risk? Risk can be anything that can affect the progress and outcomes of your project which could include failure of equipment, testing issues, late arrival of material/parts etc. You must consider all areas of risk and make a contingency plan for these risks.
A contingency plan is a way of preparing for any potential issues. This could include alterations to your Gantt chart, use of equipment from other companies or educational providers and sourcing of materials from other suppliers. Whilst these would all be reactive to a problem, you can also be proactive in your planning by leaving sufficient time in the Gantt chart for each task which may be dependent upon risk situations.
Once that phase has been completed you will be moving onto the modelling, testing and validation of your results in which you must ensure reliability and consistency of your results so that you can effectively progress onto improving your designs and models. You will then have a set of accurate results which will allow you to compile a worthy analysis, evaluation and conclusion for what you have done.
Have a merry Christmas and a happy New Year!
See you in January!