Identifying And Acting On Early Warning Signs In Complex Projects

We all have heard the phrase “Prevention is better than Cure” numerous times. It merely means that it is better to prevent the hazard from happening than wait for it to happen first. It is generally said in terms of ‘Health.’ This can be easily applied to our businesses. Identifying the warning signals at the initiation stage can go a long way in maintaining the ‘Health’ of your business. Having a proactive approach towards identifying the problems early on and taking actions to solve them can help the business prosper.

Why should you identify and act on early warning signs?

The simple answer to this question is – To prevent potential challenges from becoming problems. A proactive approach in identifying and diffusing problems is integral to ensure continuity of business. Let’s say you have a car that is in bad condition and might break down soon. You have two options. You can either wait for the vehicle to break down or start saving for repairs or a new purchase. Which one would you choose? The answer is obvious; you would go with the second option. The reason for doing so is because you want to avoid the hassle of running from pillar to post to get a ride after it breaks down. It is now clear why it is important to identify the early warning signals both in complex projects and general business operations.

Benefits of Being Proactive

Being proactive in your approach helps you identify potential risks and take action. Let’s take a broader look at the benefits of being Proactive:-

  • Diversity of options: There are various ways and opportunities to tackle smaller issues. The possibilities become very limited when these issues become more significant and more serious. It allows you to enjoy more choices.
  • First Mover Advantage: Proactive approach helps you enjoy a first-mover advantage in the market. It helps you pose a tough competition to your competitors. It boosts your reputation in the marketplace.
  • Saves Cost: Identifying potential risks at an early stage can help save many costs for the company. Let’s say a machine in your factory is in bad condition and might break down anytime. If you start making provision for repair and replacement, it won’t cost you much. However, if it breaks down, it would stall the production, and the opportunity costs involved would be too much.
  • Time Savings: Prior identification of early warning signs can help save a lot of your precious time. Once the potential risk becomes a reality, it gets more complicated and challenging to resolve. It takes up a lot of time and disturbs the peace of mind.
  • Peace of Mind: It allows you to enjoy peace of mind as you are prepared to face the upcoming problems head-on. A proactive approach reduces stress and anxiety, while a reactive approach increases pressure.

PULSE – A facilitator for the health of your business

Now, you know the importance of being aware of the potential risks and making arrangements for a healthy business. The next question is ‘How’? Here we are with our smart AI-enabled solution for businesses to manage their inspections and self-audits digitally. Pulse is a safety audit application that has been specially curated for enterprises to build a system of checks. It is entirely AI-enabled and allows you to manage inspections and self-audits from anywhere on the planet without the need for personal presence.

How does Pulse help you be Proactive

  • Automation: Pulse provides you with automatically curated reports and analysis of organizational performance. The reports are comprehensive and insightful. It analyses the performance from all the angles possible. It can help you identify potential risks. Let’s say your employee needs the training to improve his performance. Having a friend like Pulse can identify those needs and make arrangements before the skill gap starts hampering your work.
  • Integration: It allows you to connect with platforms like Podio. With such platforms’ help, you can identify the opportunities and potential threats beforehand and take the necessary action course.
  • Implementation: Mere identification of potential risks is not enough. It is equally important to take the necessary actions. Pulse helps you create your team, assign tasks to them, and track their status from time to time.

Having a friend like Pulse, you can rest assured.

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