Additionally to the managerial risks mentioned in last week’s piece, other risks to the PowerPath project include poor communications between partners caused by dependencies not properly identified, causing delays in delivering the tasks or misunderstanding the roles and tasks of each partner. As a mitigation, partners would have established working relationships via regular meetings and conference calls. Dependencies and deadlines have been identified for tasks to ensure proper flow.
Another risk would be the suppliers not having the materials for project development, due to materials being out of stock or difficult to access. The global electronic components market could have shortages as during COVID-19. This would cause delays in the necessary materials from the suppliers to construct the nanogrids and coating. Mitigation would be achieved by alternative suppliers being identified early on the project under the guidance and monitoring of project leaders.
Finally, there is a risk of potential failure to secure agreement on KPIs between all the consortium partners, suppliers and users due to differences in opinions or a lack of communication therefore causing unreliable project data. As a result, KPI and deliverable monitoring will ensure that all parties agree and that the project has the utmost commercial potential.