Mitigating risks in project work

We started off this year by writing a new Erasmus Plus research and development project proposal and spent some time considering the risks associated with its implementation. There are both external and internal risks involved, with low to high likelihood and impact. Many of the risks are based on human activity and behaviour.

Risk management

Risk management is a continuous process of identifying, assessing, monitoring and mitigating risks that threaten the success of a project. Risks may relate to cost, commitment, schedule, quality, safety and technical performance (KPMG 2014.) Risk management starts already in the planning stages of a project.

When drafting a project proposal, it is vital to consider potential risks and their likelihood throughout the project’s duration. This process includes identifying and evaluating risks, considering their probability and impact, and establishing methods to monitor and mitigate them. The EU project proposal template emphasises that ‘a good risk management strategy is essential for good project management’. Our own experience with past projects confirms this to be true.

In Erasmus Plus funded projects, risk assessment is an ongoing activity for project management, and it is done throughout the project lifetime. Such international projects are implemented in a complex environment, where multiple risk factors need to be taken into account. It is not only external risks that threaten the outcomes of the project, but also internal risks may put the project impact in jeopardy.

External risks

External risks are beyond the control of the project team. However, being aware of and able to respond to them is essential for a successful project. In the long-term, environmental risks like extreme weather events, biodiversity loss and climate change are the most impactful risks that affect all the places, people and businesses around the world. For a three-year Erasmus Plus project, it is the short-term risks that need more focus. Recently, they have changed immensely.

After a long stretch of calm seas and smooth sailing in international relations, there are now dangerous clouds on the geopolitical horizon. The annual World Economic Forum Global Risks Report (2025) lists armed conflict as the top risk in the short term. In our recent project proposal, we had to include it among the external threats to the implementation of our project, along with geopolitical risks, trade wars and threats caused by extreme weather events and pandemics. Also, cybersecurity, disinformation and misinformation were included in the list of potential external risks affecting the implementation of our project.

The Eurasia Group’s TOP Risks 2025 report (2025) highlights several global threats caused by human behaviour, such as the increasing autocratic tendencies around the world. An example of external risks that could materialise is the escalation of trade wars, which can increase the costs of equipment purchases for a project.

Geopolitical risks are relevant to international projects as they always include travel. It is even more important than ever to read the travel advice by the Ministry for Foreign Affairs of Finland (2025) and submit a travel notification before all international travel. The safety and security of all project members is of utmost importance.

For the mitigation measures, we recommended constant monitoring as well as flexible and proactive project management. Nothing is set in stone, situations evolve. Our experiences from the pandemic era also help us with adaptation and with the use of online tools for communication. We know that we can be agile, if needed. We can reschedule training weeks and seminars, if there are elections or revolutions disrupting travel.

Communication with partners in the target countries is vital when planning travel arrangements. They can often offer concrete advice and recommend trustworthy transport companies to use. Often project partners are located in far flung destinations with no direct flights available. Our experience is that host universities in the target countries know the local situation best and can be consulted on the safest methods to proceed and move around in their destinations.

The external risks received the highest impact level in our risk assessment – a sign of the times.

Internal risks

After considering the risks that we could not control, we put our minds to the internal risks. They are the ones that are easier to manage and mitigate than external ones. Even though project partners are carefully chosen based on the resources and needs, skills and knowledge they can bring to the project, there are several internal risks in an international project, especially if it spans several countries, continents, cultures and different ways of working and teaching.

Operational risks are tangible challenges that arise during project implementation. These risks can involve communication issues, conflicts, costs, scheduling and low engagement, all of which are heavily influenced by human behaviour. Conflicts and misunderstandings can be mitigated through face-to-face meetings at the beginning of a project, as we did in our ENRICHER hubs project with its kick-off event. It enabled us to get to know each project partner and build trust from the get-go.

Financial risks can be mitigated through budget management and continuous monitoring. Partners must handle finances responsibly by consistently documenting transactions, adhering to EU guidelines, and securely storing all relevant documents. A lax attitude to finances might lead to having to pay back funding, a situation that all project partners want to avoid.

Projects are all about people and collaboration. As people may have varying priorities, there can be delays and inability to deliver project tasks on time. Also, stakeholders may have a low level of engagement in the project activities, making it difficult to achieve project goals. However, no matter how efficiently partners try to deliver, sometimes they get caught in a web of internal bureaucratic procedures that take a long time, e.g., tendering processes or delays with equipment procurement.

Proactive project management methods help to mitigate internal risks. For example, a proper project timeline or GANTT chart helps to assign clear deadlines and responsibilities in line with the project plan. GANTT is a visual tool enabling checking the timelines of different work packages, tasks, deliverables and milestones of the project. (LaPrad 2020.)

Setting internal deadlines for drafts and final reports before the official deadlines helps partners to prepare the reports on time. Online platforms enabling project partners in different locations and institutions to write, comment and finalise reports together have become essential for international projects. We also have good experience from setting up a quality board that includes selected members from each partner organisation to evaluate project deliverables before submitting them to the EU.

Further, regular project management meetings help project partners to share the status of the progress and coordinate the next steps in the project. Project management meetings can also be used for building trust between partners by enhancing a positive atmosphere with open lines of communication. To prevent no shows, partners should assign at least two individuals to critical tasks, ensuring that at least one representative from each university is always present and delivering. Additionally, scheduling important meetings well in advance, such as for the entire semester, can further enhance participation.

Risk management paves the way to success

A key factor in the success of any project is ensuring that partners fulfill their commitments as outlined in the project plan. While work cultures may vary across regions, countries, and universities, these differences do not excuse any partner from neglecting their responsibilities. In the ENRICHER hubs project, we cocreated a code-of-conduct to agree on shared goals, guidelines and values for our collaboration. It has helped us to work together effectively.

Ultimately, projects revolve around people, and it is each partner’s responsibility to commit, perform, and respect deadlines. Each individual should strive to proactively deliver high-quality work on time, rather than needing constant reminders about their duties. When partners give their best effort, it will be recognised, potentially making them sought-after collaborators for future projects. Therefore, effective risk management is an investment in future success!

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