Questions tagged [risk]

Use this tag for questions about the recording, management and mitigation of project risk related to budget, schedule etc.

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2 votes
8 answers
532 views

In an agile project how should PM try to find risks upfront and if yes how?

Usually in an agile process such as scrum we don't do an initial analysis as in waterfall model. How to identify project risk in agile process.
5 votes
4 answers
12k views

How is Risk Management in Agile Development Different From Risk Management in Waterfall Model?

In a typical project lifecycle, as a manager you are expected to have a risk plan which (please correct me if I'm wrong) consists of identifying, assessing and prioritizing all potential risks of the ...
1 vote
3 answers
67 views

Measuring Impacts and Risks when modernizing a legacy application

A legacy software application needs to be rewritten to improve performance. This software is used on an hourly basis to bring money to the business. Because of the nature of its importance to the ...
1 vote
2 answers
149 views

How do you calculate acceptable risk on your project?

I am trying to find some information on the following: how do I determine the acceptable risk (risk appetite) for my project, what is the usual practice/approach? Is it percentage of profit, for ...
2 votes
3 answers
100 views

Managing Risks: How do we know we are managing risks well?

When an auditor performs an inspection on a process area, the auditor will use interviews and documented evidence to make a judgment about how well the process is being performed. Inspecting a risk ...
36 votes
7 answers
30k views

What's the best definition and explanation of project risk?

I've had trouble in the past explaining project risk to non-PMs. For me the key element I struggle to get people to accept is that a risk is something outside the control of those on the project (...
2 votes
3 answers
660 views

What is a Risk, and how does it differ/relate to an Opportunity?

An active question was on this community that I previously added a response. However I wanted to ask a contrast based question that uses a graph to show where the two terms occur and see how a clear ...
3 votes
12 answers
41k views

Risk and Opportunity definitions

If the definition of a risk is: Anything that might affect a project achieving its goals then what is the definition of an opportunity?
1 vote
3 answers
188 views

How do we mitigate by reducing the impact of risk(Risk response planning)?

Risk mitigation is a strategy for reducing the probability or impact of risks. I understand by what reducing the probability of risk means. For eg-: Consider a risk of theft while working in an area ...
1 vote
1 answer
157 views

Risk triangular distribution: percentile sensitivity

When modelling risks, usually a triangular distribution based on three time estimates (optimistic, likehood and pessimistic time estimates - a, c, and b respectively) is used to evaluate the planning ...
1 vote
1 answer
127 views

What are the risks and mitigation strategy for SAAS solutions?

I am suggesting a software solution POS for a small retail store to manage his business operations effectively. I am just trying to identify the risks and its mitigation strategy for SAAS solutions. I ...
1 vote
2 answers
682 views

FTA (Fault Tree Analysis) or FMEA (Failure mode and effects analysis): how they are different from each other?

I have decided to work on risk analysis for my MA thesis, but I am stuck with choosing the theoretical framework for that. I am not studying MBA or other Management fields, and that makes my job hard. ...
1 vote
1 answer
96 views

How to identify risks in a given case study? [closed]

I am working on a case study which is like below : Economic inequality is a huge issue. A recent study found that the world's 80 wealthiest individuals own as much as the entire world's poorest 3.5 ...
1 vote
2 answers
165 views

What risk analysis model shall I use if I know the areas (sources) of risk?

I know the areas of risk in a group of companies based on a Risk Breakdown System. With what model shall I analyze them afterwards? Is FMEA good for this purpose? If yes, how should I apply it?
5 votes
3 answers
606 views

Dev went on vacation leaving his work unfinished. How to manage this without informing the customer?

I would like to discuss and hear some advice from you about a pretty common situation. We develop the functionality that has huge business value for the customer’s project and thus the customer is ...
0 votes
1 answer
3k views

Good RAID Log examples & usage

I was hoping for any good examples of how anyone has effectively presented RAID logs (or the individual lists of Risks/Assumptions/Issues/Dependencies) in their projects. In particular for Agile/Scrum ...
16 votes
10 answers
13k views

How to identify risks?

What risk identification methods you recommend to use? If a project manager needs to build a raw list of risks containing, say, 100 items, how would he/she do it? As I understand, brain storming is ...
1 vote
4 answers
331 views

How is a countermeasure influencing the total risk score?

I'm just setting up a risk management for a project, and I have to admit, that I'm not used to it. That's my table so far. ----------------------------------------------------------------------------...
0 votes
3 answers
1k views

Risk Register & Project Summary Risk Report

What is the link between Risk Register Database & Project Summary Risk Reports and other risk management and project management procedures?
3 votes
1 answer
889 views

How to reduce the impact of key staff leaving a project?

While managing a project, what actions should a project manager or team lead do to mitigate the risk of performance degradation in the event a project worker leaves the project prior to his or her ...
-1 votes
2 answers
297 views

How do I facilitate a project risk assessment?

Let's say I wanted to asses the risks in a project like the one in this link: https://github.com/tanay-bits/baxter_skeletonteleop, where I am tele-operating a robot using a vision sensor. How can I ...
3 votes
1 answer
52 views

How exactly one can find out the influence of each risk component in Fault Tree Model? Is that possible at all?

How exactly one can find out the influence of each risk component in Fault Tree Model? Is that possible at all with model?
1 vote
1 answer
163 views

Finding out whether a decision made has been risk-taking or risk-averse

I want to do an empirical study on risk management by translation trainees for my MA thesis. Translation is an act full of decision-makings for rendering risky parts of the text. I want to interpret ...
1 vote
1 answer
82 views

Identify risks from 100 case studies [closed]

I want to identify risks from 100 case studies of past construction projects. What the most relevant documents that I need to consider that would save my time. Thank you in advance, Mustafa
5 votes
1 answer
175 views

Managing huge experimental decision by a developer

The project which I'm working on was over, but I would like to reflect on managing a huge experimental decision made by one developer during development. This is what happened: A developer strongly ...
3 votes
3 answers
117 views

What qualifies as a trackable risk?

When creating a Risk Analysis document, what qualifies as a reasonable risk? As a rule of thumb we expect 5 risks to be tracked. Is it reasonable to include risks such as the building burning down or ...
1 vote
2 answers
82 views

Using probability to assess issues

In risk management within projects, probability is used as a way to understand how likely risks are to happen in the future. This is obviously a well-established area. Presumably there is nothing ...
0 votes
3 answers
214 views

What is the point of a risk with no impact?

Forgive me if this doesn't belong here, but I thought this more appropriate for PM than for Programmers or SO. We use risk assessments where I work as part of the software development life-cycle. A ...
5 votes
1 answer
504 views

If risks have been identified in a design document, how are these addressed?

If a design document e.g. software, IT infrastructure, etc details risks, how are these generally addressed as part of the project? Do these risks also reside with the project? For example, i have a ...
3 votes
1 answer
222 views

Is the lack of requirements such as functional and non-functional a risk?

If a project has forsaken to undertake a cycle of eliciting and documenting requirements, what level of risk does it introduce, how is this addressed and whom does it sit with?
3 votes
2 answers
328 views

At what point do assumptions become risk?

In most documents there is a section on assumptions e.g. We assume that the network is well within the realms of supporting this solution. At what point does it become a risk? Where does the risk ...
4 votes
3 answers
2k views

Is an operational risk considered a project risk?

Assuming there is an IT operational risk such as the lack of backups during a delivery of a solution would it be considered a project risk and if so how would you classify the risks?
2 votes
1 answer
143 views

Is this a standard/typical/best practice way to display information on a business value - risk diagram?

The image below has a series of projects (letters) tracked in terms of value vs risk. Each project is shown as a pair of nested boxes, with the inner box broken into four quadrants. I have never ...
16 votes
2 answers
392 views

Who is responsible for the proper license handling in a software project?

I recently participated in a discussion where we wanted to find out what kinds of open-source software we can use in our production system. The corporate guidance is not clear, and the project members ...
12 votes
5 answers
3k views

What you would do in this situation? Support a critical error for a client or observe your deadline with the other?

I have been interviewed yesterday as a team leader for a start-up, and I was asked this: Suppose you have a deadline for a client tomorrow and there is much pressure on your team to finish it and ...
1 vote
1 answer
121 views

What is the best book/guide to help explain how to manage projects by risk? [closed]

Our projects are very much risk focused and I'm keen to find ways to improve how we identify and manage risks. I've noticed that "Proactive Risk Management: Controlling Uncertainty in Product ...
1 vote
1 answer
111 views

Quality and Risk

Trying to understand the entailment between Quality and Risk, can we state that "Non Conformance to Quality Leads to Materialization of Risk (Known/Unknown)"? If this statement is true, how ...
4 votes
3 answers
838 views

How to do risk profiling?

I've recently started working on a data center migration project for a large financial services client. One of the tasks I'm accountable is risk profiling the migration based on the as-is and to-be ...
1 vote
3 answers
129 views

FixedPrice but customer wants all risks are handled by their side

Here is an interesting situation we have been put in. We developed a proposal that includes deliverables, work packages and their estimates, risks etc. Also we planned some contingency for risky ...
9 votes
2 answers
2k views

How do you plan for risks in your project's estimates?

I have been working on the risk-management topic in software development for a while. According to the different literature there could be knowns knowns (typical risks), known unknowns (product ...
14 votes
3 answers
1k views

How to manage risk of "just in time" delivery?

One of the functional units involved with most of our projects has a philosophy of "just-in-time" completion of deliverables. I believe that the root cause of this is understaffing or inefficient use ...
16 votes
4 answers
799 views

GitHub Hacked? What to do When the Ignored Developer Strikes Back?

Today's news is that a developer hacked github. He found a vulnerability in Ruby on Rails, reported it and since nothing had happened - he was ignored and considered as a troll -, he used the ...
7 votes
6 answers
1k views

Should the customer be informed about an overall project risk score?

One of the outputs from Qualitative Risk Analysis is project Risk Score, which is an indicator of project success probability. This indicator explicitly tells a project manager what is the likelihood ...
3 votes
4 answers
350 views

Would this be a good way of reporting?

I do not know whether I am reinventing the wheel, but I have never come across the following reporting method. I imagine that if I was to choose a single metric to report to upper management about a ...
4 votes
3 answers
5k views

distinguishing between impediments and risks

To me they both seem to be issues that negatively impact the project. So how to tell the difference? When identifying these 'issues', how do project managers determine whether or not it is a risk or ...
3 votes
2 answers
92 views

Creating synopses of existing movies - hire a team, or crowdsource?

To create a movie database website for a regional language industry, I would like to know whats the best way to acquire/build a large collection of movie synopses for my site. Currently I have thought ...
5 votes
3 answers
205 views

How to approach a supervisor about the high risk of failure of his/her project?

In the event a manager takes on a particularly ambitious project, it is quite possible s/he has done so with a lack of understanding of the level of expertise or time needed to complete the task. It's ...
5 votes
2 answers
239 views

Public risk taxonomies/lists? [closed]

I'm trying to find publicly available lists of risks which I can use in my own risk identification processes. Maybe risk taxonomies or just risk lists. Can anyone share such links?
6 votes
3 answers
5k views

Should a Risk Management Plan include a Risk Register?

Is it within the scope of a Risk Management Plan document to include a Risk Register? Or should a Risk Register be created separately, and the plan merely state that a register will be created?
16 votes
4 answers
11k views

How do you measure risk?

As a related question to: What's the best definition and explanation of project risk? What is the most useful way of measuring risk? I've been thought it's best to measure it in additional monetary ...