Inherent Risk

Blog. Comments Off on Inherent Risk

All projects possess risk that needs to be managed.  The most important step in any project risk management process is to identify these risks.  Project risk identification is done in two parts:

Look for risks that are inherent to our project based on its general characteristics.
After we identify inherent risks, we look for risks that are specific to our project.

Most project managers would agree that large projects are generally riskier than small ones, having an inexperienced project manager and team is riskier than having an experienced project manager and team, and using new technology introduces additional risk than does a project that uses proven technology.

The table below shows examples of “inherent” risks.  They are risks that could be inherent in the nature of our project.  In other words, these types of risks could be applicable to any project … Read More »



Blog

My latest thoughts on Project Management and life.

LATEST BOOK: EARNED VALUE MANAGEMENT

My big thanks to the coronavirus lockdown that provided me with an undisturbed opportunity to put together this 104 page booklet on Earned Value...

Project Estimating Checklist

Hofstadter’s Law: “It always takes longer than you expect, even when you take into account this law.”

Hofstadter was right....

Earned Value Management Misconceptions and Limitations

Although EVM offers excellent benefits, and is undoubtedly a very clever thing, it’s not perfect. In this final chapter I’ve discussed in detail a...