Project Risk Management Page 5
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17If you look at categories of risks as “where do risks come from,”
sources of risks might be different then the list above. Below
are some examples of risk.
Schedule risk – “The hardware will arrive later than
planned causing a delay in task XYZ of three days.”
Cost risk – “Because the hardware will arrive later than
planned, we may need to extend our lease on the staging
area at a cost of $20,000.”
Quality risk – “The concrete may not dry before winter
weather sets in causing us to not meet our quality
standard of concrete strength.”
Performance or scope of work risk – “We might not have
correctly defined the scope of work for the computer
installation. If that proves true we will have to add tasks
at a cost of $20,000.”
Resource risk – “Dave is such an excellent designer that he
may be called away to work on a new project. This will
result in our schedule slipping between 100 to 275 hours.”
Customer satisfaction (stakeholder satisfaction) risk –
“There is a chance that the customer will not be happy
with the XYZ deliverable and not tell us, causing at least a
20% increase in communication problems.
INFORMATION-GATHERING TECHNIQUES
Below are several methods to identify risk:
Brainstorming: Usually done in a meeting where one idea helps
generate another
Delphi technique: a multi-session data gathering technique
Interviewing: Also called expert interviewing on the exam and
consists of the team or project manager interviewing an expert
to identify risks on the project or a specific element of work
Strengths, weaknesses, opportunities and threats analysis: An
analysis that looks at the project to identify its strengths, etc.
and thereby identify risks.
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