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 »