Anticlue

One can see risk coming

Accessing risk from projects is an activity that needs constant vigilance. When evaluating risk, examine the probability that the outcome will occur, the various possible outcomes, when this risk is expected, and how often it will occur. Risks have some of the same patterns.

• Schedule Risks


• Cost Risks


• Quality Risks


• Scope of Work Risks


• Resources Risks


• Customer Satisfaction Risks

During the project, in all likelihood, all of these risks will surface in one fashion or another. There are different ways to manage risks.

• Avoidance (reducing probability): You can avoid a risk by eliminating the cause of that risk.


• Mitigation (improving alternatives): You can achieve mitigation by reducing the probability of the risk outcome while increasing the likelihood of a good outcome.


• Transferring (reducing impact): You usually do this by creating insurance of some kind that involves assumption of responsibility by another party.


• Assumption (acceptance): For risks that have a low impact, accept the risk and create a contingency plan.