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

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