ABSTRACT
The main motive for creating an FSR plan is to understand what external and competitive threats have the greatest impact on the project and focus the project team on responding more quickly if need be. Another reason motivating the creation of a comprehensive FSR plan is understanding how all the pieces of risk management and the company responses to environmental changes and competitor reactions fit together to avoid confusion at the time of execution and finger pointing when things go wrong. Also, FSR planning helps to minimize the level of silo mentality, assign unambiguous ownership of actions to the right project stakeholders, ensure that the internal processes and communication, coordination, cooperation, and collaboration (4Cs) work as expected, and execute the project as planned with all the required resources and support. Additionally, FSR planning verifies that conclusions reached prior to implementation, which led to the decision to proceed with the project, are well founded and it prepares a ready-to-deploy plan to offset project setbacks coming from competitor and environmental sources.
