Not always about risk management but about issues that are often thought of yet rarely considered. Topics of the Day are written by Eric Singer.
Nothing provides clearer warning of a problem than lack of payment on a private project.
If the client is not paying you, they lack the funds or the willingness to do so. Either should cause you concern. If the client is unhappy and does not want to pay you, address the problem right away and stop working if you cannot reach an agreement. If you keep working, you will only have a larger receivable to worry about. If the client lacks the funds to pay you, they will beg or threaten you to finish the work so that financing can be obtained.