Why Projects are Risky?

PMBOK
Knowledge Center

Forum
Khalil Shahriari PMP
Management Consultant, Iran

Why Projects are Risky?

There are some factors which are found in all or most projects, and which make them inherently risky. These risk factors of projects include:
1. Uniqueness
2. Complexity
3. Assumptions and constraints
4. Objectives
5. People (including project team members and management, clients and customers, suppliers and subcontractors...)
6. Stakeholder requirements, expectations
7. Change (since every project is a change agent or process, moving from the known present into an unknown future)
8. Environment (internal or external environment).

  amr elsharkawy
Project Manager, Egypt
 

Scope of Work can be a Risk Factor too

I also believe that
9. Project Scope Definition (or the understanding of the scope of work) is a risk factor and could be added to your list of factors which make projects inherently risky.

 

More on PMBOK:
Summary
Forum
When Used for Software Development
👀Why Projects are Risky?
Agile Project Budgeting
PMBOK Edition 6: What's New?
PMO in Human Resources
What is Project Lifecycle?
Life Cycle Costing Analysis
Presenting Lessons Learnt
The 3 Processes to Manage the Quality of Projects
🔥Gold Plating in Project Management
Project Management Knowledge Standard(s)
The Meaning of 'Scope' in Project Management
Managing Organization Culture
Best Practices
PMBOK <> PMBOK Guide
Who Initiates and Plans a Project?
I am a project, my life is a program
Project Budgeting Best Practices
Task Reminder Tool / Task Reminder Software
What are the Common Reasons Why IT Projects Fail?
Is the 2013 Version of PMBOK V5 a Real Improvement?
Looking for Internet Collaboration Project Software
Shortfall in the PMBOK Framework
Why Project Risk Management?
Why use Project Management Software?
9 Knowledge Areas in PMBOK
Special Interest Group

Do you have a keen interest in PMBOK? Become our SIG Leader

PMBOK
Knowledge Center



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2022 12manage - The Executive Fast Track. V15.8 - Last updated: 7-7-2022. All names of their owners.