The July Reality Check
Estimated Reading Time: 4 minutes
By Elyzabeth Joy Holford
Assistant Executive Director
If you’ve looked up or down at your wall or digital calendar this week, you’ve noticed that it’s already July. The year is half over, yet my to do list includes many projects I had planned to have finished by now. For risk professionals, this can feel particularly uncomfortable. The initial enthusiasm of annual planning has faded, the pressures of the third and fourth quarter of the calendar year are imminent, next year feels as if it is just around the corner, and resources may be stretched more than usual. As a risk professional, it is tempting to try to mitigate every potential organizational vulnerability. However, trying to intervene to address every disruptive possibility will help you manage none effectively. It is likely time to move some projects off your plate.
Learning to Let Go: The Art of Renegotiating
One of the most difficult aspects of managing any assignment is learning to let go. Most of us are conditioned to finish what we start. Admitting you cannot complete a project by December can feel like failure. Yet recognizing when something is no longer viable or when a timeline is unrealistic are indicators of courageous leadership. If you find yourself in a midyear quandary, remember that you have several options.
Revisit Deadlines. The first option is to renegotiate the deadline. Speak with constituents, executive sponsors, other risk champions and/or your team members. Present the data clearly. Share the competing priorities, changing circumstances, or unforeseen complexities that make the original deadline impractical or unwise. Don’t be surprised when colleagues are relieved to see a deliverable moved to the next calendar year to better suit needs and circumstances.
Adjust the Scope. The second option is to scale down the scope of the project. If you cannot implement a comprehensive, enterprise-wide risk practice by the end of this year, can you launch a pilot program in one department instead? Scaling back the scope allows you to test the process, gather data, demonstrate momentum, and achieve some success rather than abandoning the entire initiative.
Stop the Project. The third, and perhaps bravest, option is to cancel the project. Ask: does this project still sync with and advance a strategic priority for this year? If the answer is no, it is time to formally close the project, capture lessons learned and reallocate valuable resources to more pressing issues.
Practical Tactics for Execution
Once you’ve negotiated new timelines, adjusted the scope, or cancelled a program, communicate the changes to affected team members. Be clear about why these changes occurred and outline any revised timelines and expected outcomes.
Remember that it is easy to fall back into old habits of reacting to every email or urgent request, rather than focusing on priorities. If your remaining projects still feel overwhelming and massive, break them down to smaller, manageable milestones. Checking off smaller tasks can build a feeling of momentum for you and your constituents and spark motivation. Additionally, establish regular check-ins with yourself and your team to review progress against the revised timelines and re-scoped goals. This allows early identification of any new bottlenecks with time to make necessary adjustments.
If you’re worried you’re off track and focused on the ‘wrong’ risk issues, I encourage you to read an article on the topic by my colleague, NRMC Executive Director Melanie Herman. For guidance on the simple, but wise practice of ‘chunking,’ or breaking big asks into manageable chunks, see: “Chunk Change: Ask for Less to Get More.”
Build Resilience by Letting Go
As a risk professional, your value to your organization does not lie in the number of tasks you complete, but in your ability to guide teams to build resilience in the face of imagined and unimaginable possibilities. A mid-year reset is not a sign of defeat; it is the hallmark of a strategic leader who proactively manages resources. Strategically letting go of or renegotiating what cannot be done can increase the likelihood that your works will be mission aligned and your team will be equipped to face inevitable disruption and uncertainty with calm and confidence.
Elyzabeth Joy Holford is Assistant Executive Director at the Nonprofit Risk Management Center. Reach her with thoughts or questions about this article at elyzabeth@nonprofitrisk.org or 703-777-3504.
“One thing I love about the Risk Summit is the opportunity to connect and learn from other risk managers, nonprofit professionals, and NRMC staff. I have attended the Risk Summit multiple years and always look forward to connecting with returning attendees and meeting new people. The Risk Summit brings together a diverse and engaged set of professionals who are ready to learn, share, and connect.”
— Heather Chadwick
“I love the Risk Summit because I always learn something valuable, such as new approaches to the issues I’m grappling with. I always leave the Risk Summit with a notebook full of practical ideas. I also leave with an expanded network of professional acquaintances and a feeling it was the most useful conference I’ve been to in quite a while. I am in awe how such a topic as risk management can be artfully delivered.”
— Paul Doman
“One thing I love about the Risk Summit is the ability to see and feel the passion of nonprofit leaders as they learn and share together.”
— Michael Schraer
“One thing I love about the Risk Summit is connecting and learning from / with really great people.”
— Lisa Prinz
“First let me congratulate you on a conference well done. I had a great time at the Nonprofit Employee Benefits Conference and walked away with some valuable tools and questions that we’ll need to be addressing in both the short and long term. Thanks to you and your staff for all you do to provide us with quality resources in support of our missions.”
— Scott Brown, Mohonk Preserve
“BBYO’s engagement of NRMC to conduct a risk assessment was one of the most valuable processes undertaken over the past five years. Numerous programmatic and procedural changes were recommended and have since been implemented. Additionally, dozens (literally) of insurance coverage gaps were identified that would never have been without the work of NRMC. This assessment led to a broker bidding process that resulted in BBYO’s selection of a new broker that we have been extremely satisfied with. I unconditionally recommend the Center for their consultative services.
— Sidney Abrams, BBYO
“Melanie Herman has provided expert, insightful, timely and well resourced information to our Executive Team and Board of Directors. Our corporation recently experienced massive growth through merger and the Board has been working to better integrate their expanded set of roles and responsibilities. Melanie presented at our Annual Board of Director’s Retreat and captured the interest of our Board members. As a result of her excellent presentation the Board has engaged in focused review which is having immediate effects on governance.”
— Pamela Mattel, Basics Promesa Systems Inc
“The Nonprofit Risk Management Center has been an outstanding partner for us. They are attentive to our needs, and work hard to successfully meet our requests for information. Being an Affiliate member gave us access to so many time- and money-saving resources that it easily paid for itself! Nonprofit Risk Management Center is truly a valued partner of The Community Foundation of Elkhart County and we are continuously able to optimize staff time with the support given by their team.”
— Jodi Spataro, Community Foundation of Elkhart County
“The board and staff of the Prince George’s Child Resource Center are extremely pleased with the results of the risk assessment conducted by the Nonprofit Risk Management Center. A thorough scan revealed that while we are a well run organization, we had risks that we never imagined. We are grateful to know that we have now minimized our organizational risks and we recommend the Center to other nonprofits.”
— Marti Worshtil, Prince George’s Child Resource Center
Great American Insurance Group’s Specialty Human Services is committed to protecting those who improve your communities. The NRMC team has committed to delivering dynamic risk management solutions tailored to nonprofit organizations. These organizations have many and varied risk issues, hence the need for specialized coverage and expert knowledge for their protection. We’ve had Melanie speak on several occasions to employees and our agents. She is always on point and delivers such great value. Thank you for the terrific partnership and allowing our nonprofits to focus on their mission!