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Monday, March 30, 2009

External Project Risks More Important than Ever

As the economy becomes more challenging and the impact of globalization increases project risks become more in number and impact. Moreover external risks are closer than before. Examples of external project risks that have become much more visible during the downturn and that project managers should start accounting for if they haven't already are:

- Fluctuating currency exchange rates
- Labor issues (strikes, layoffs)
- Regulation changes
- Customer investment and purchasing changes
- Contract breaches
- Financing and investment opportunities

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