Plan to succeed
Act before impact
Modifying factors describes the ‘inputs’ (contextual factors) and ‘outputs’ (stakeholder and performance factors) that have the potential to materially impact the risk profile and value of projects.
Why do modifying factors matter?
Understanding project impacts
How project development and resource extraction is conducted creates impacts, real or perceived. When project impacts are understood and acceptable to crucial stakeholders; be they governments, communities, investors, lenders, insurers, workforces or regulators, the risk to project schedule, cost, reputation and delivery is reduced.
A project’s complexity increases when multiple modifying factors directly or indirectly interact. These interactions may create cumulative impacts that can compound the range and severity of concurrent risks. These are multi-factor risks.
The impacts and interdependences of multi-factor risks increases uncertainty and risk. Risks from modifying factors can result in delays, cost overruns, rework and even abandonment.