List of Typical Project Risks

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Risk Management and RAROC > Forum > List of Typical Project Risks

List of Typical Project Risks
Chris Kmetko, Business Process Improvement Leader, United States, Member
Anyone have a good list of typical risks to consider when creating a project risk plan. Thanks...

Risk Register
Lorant Zsarnoczki, Manager, Hungary, Member
Risks are rather industry related, however there are certainly generic risks. Such are for example: key employees risk, strategic risk, reputational risk and so on. Please send me an email and I'll send you a typical risk register list.

Risk Types Register
Jaap de Jonge, Editor, Netherlands
There is a list of 30 risk types and their typical consequences in the resources section of the page on strategic risk management (Premium membership required).

Typical IT Project Risks
Siva Nair
I have a list of IT project risks - is this an IT project?

Managing Project Risks
Sabari, Analyst, India, Member
A project is any unique endeavor involving a degree of risk. One of the attributes of project itself is the risk associated with it. Risk involved in a project is proportional to the complexity and novelty associated with the project, so the higher the complexity and novelty, the higher the risk.
Because of this any major project should have a contingency plan. It will be a part of risk mitigation. It is the duty of project champion to identify the possible risks both internal as well as external.
It will be possible to some extent to nullify or minimize the internal risk. But external risk is difficult to control. Two most significant parameters that we have to consider are the likelihood of risk and impact of risk.
Likely hood: what probability that the risk may occur.
Impact: what impact the risk once happen could make on the project.
A matrix is formulated between these two to measure the significance of a particular risk.
To identify risk and priorities them one of the most commonly used methodologies is the (Ishikawa Diagram) . Here for particular risks what are the possible sources are identified and efforts are taken to avoid those sources i.e. treat the cause and not the effect principle is adopted.

Are There Typical Risks to Consider for Project Risk Planning?
Alan Kennedy
The project manager should start with identifying and prioritizing the key expectations imposed on the project. These expectations are attracting the risk!
If this is not done, there is little chance of identifying the relevant risks to achieving those expectations. Projects fail because too many project managers assume that, because they are the project manager, they can manage the project anyway they want. Instead of understanding and managing the project to the expectations imposed on them.
Consider the typical expectations that the project will be completed on time, on budget, and on scope. But which of these 3 is really the number one priority?
The risks a cost-driven project faces are very different from a schedule-driven or a scope-drive one. Once the priority of expectations is identified, then the risks to achieving the expectations can be identified.
The flaw in most current risk planning practices is that they disconnect risk from expectations and treat risk as a "list".

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