Risk type, Project Management

Risk type 

To identify specific problems in your project, you first need to categorise the risks.  The project constraints are  well-organised in the PERIL database, which are further divided into subcategories on the basis of sources of risks. The below table represents the risks, grouped under project parameter, where it had largest effect, and then by its primary perceived root cause.  

Table : Categories of PERIL Data  

416_risk type.png

The subcategories of scope risks are change risk and defect risk. The root causes include: 

Change risk 

?  Scope creep: Results from modification of existing specifications which are beyond the scope of stated project objective. 

?  Gaps:  Results from overlooked requirements or requirements which were recognised late in the project 

?  Dependencies: Results from changes in the infrastructure of the project due to new version of system or any upgrades. 

Defect risks 

?  Results from defect in hardware and software components which fails to meet the required standard performance.   The subcategories of resource risks are money, outsourcing and people. The root causes include: 

Money risk 

?  Results from limited funds. 

Outsourcing risks 

?  Results when suppliers fail to deliver the assigned work on schedule. 

?  Results from late starts caused by the delay in  getting the contracts approved and signed. 

People risk 

?  Results from insufficient staff or losing people in middle of the project. 

The subcategories of schedule risks are dependency, estimates and delay. 

The root causes include: 

Dependency risks 

?  Results from infrastructure drift or Interface delay in programs 

Estimates risks 

?  Results from unrealistic deadline imposed on the people working on a technical project. 

Delay risks 

?  Results from time difference on global projects.  

?  Results from delivery of defective items. 

?  Results from lack of interest in project.  

Posted Date: 9/24/2012 9:12:18 AM | Location : United States







Related Discussions:- Risk type, Assignment Help, Ask Question on Risk type, Get Answer, Expert's Help, Risk type Discussions

Write discussion on Risk type
Your posts are moderated
Related Questions
Stages of Cost Reduction The quality costs are the costs which are associated with preventing, finding, and correcting the defective work. These costs are vast which runs 20% -

What are the steps of controlling in the management? All the steps comprised in controlling are as follows: • Purpose of standards of performance. • Measurement of defini

Question 1: (a) Enumerate five objectives of public procurement systems contained in the UNCITRAL Model Law on Procurement of Goods and Construction. (b) Compare and c

Steps involved for International/Global Competitive Bidding (ICB)      Now that we are aware of the requirements of ICB, let us understand the steps involved in ICB. There can b

A reas of Business Excellence Typically, we think about business excellence in the terms of superiority, but in practice, it is frequently translated into features of the busi

IMPLEMENTING TQM TECHNIQUES IN LIBRARY AND INFORMATION CENTRE MANAGEMENT: Total Quality Management (TQM) as a management tool needs to radically rethink the way in which a lib

What are included in the privatisation of public sector undertakings? Privatisation of public sector undertakings: It is consisting of witnessed the trend toward opening

X began his engineering apprenticeship with CM8 manufacturing ten years ago before moving abroad to work for other companies. He has now returned to work for CM8 as Operations Mana

Question: (a) Explain how effective teamwork is beneficial to both the individual and the organisation. (b) Team leaders have to be on the lookout for symptoms of ineffecti

Suppose you are the project manager of a new management accounting system which will give monthly profit and loss accounts to a series of 30 computer dealerships, each of this is f