Projects vary in cost and resources involved; some are more routine while others are more innovative. Moreover, some new strategies promise quick significant wins, while others only have negligible long-term benefits. The scale of the risks they involve is also different, not requiring similar attention. Therefore, it is essential to differentiate between small, medium, and large projects while conducting a risk assessment.
Although the standard ATOM procedure is directed at medium-size projects, with several adjustments, this approach can also be applied to large and small ones. These alterations typically include either simplification or amplification of the standard methodology. For instance, dangers involved in small projects do not demand having special meetings and can be addressed on a day-to-day basis (Hillson & Simon, 2020). In the case of large projects, managers should, on the contrary, dedicate more time and attention to evaluating risks before proceeding to implement the activity. For instance, a quantitative risk assessment (not necessary for medium-size projects) and a more meticulous review cycle should be used (Hillson & Simon, 2020). In some situations, for projects of particular importance, it might even be useful to divide them into several smaller ones and approach the risks involved in their implementation separately. Overall, all decision-making during the application of the ATOM approach should be driven by the particular needs of a company and a project.
Answer to Leroy
Hello, Leroy! I agree that since the ATOM approach is scalable, it can be successfully used for all kinds of projects. I also believe that you are right about the key reason why it is essential to make a distinction between activities of different sizes. Making the process of project implementation cost-effective is hugely important, and it would be unwise to dedicate extra time and resources to small projects of little importance. Which steps do you think can be reduced and how?
References
Hillson, D., & Simon, P. (2020). Practical project risk management: The ATOM methodology (3rd ed.). Berrett-Koehler Publishers.