Questions tagged [risk]

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

16
votes
10answers
12k 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 ...
2
votes
11answers
19k 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?
36
votes
7answers
29k 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 (...
1
vote
2answers
71 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?
1
vote
4answers
146 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
3answers
797 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?
2
votes
1answer
380 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
2answers
212 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 ...
1
vote
1answer
539 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. ...
3
votes
1answer
28 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
1answer
117 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
1answer
72 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
1answer
133 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
3answers
91 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
2answers
68 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
3answers
94 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
1answer
157 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
1answer
143 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
2answers
99 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
3answers
1k 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
1answer
124 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
2answers
206 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 ...
11
votes
5answers
2k 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
1answer
111 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
1answer
83 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
3answers
652 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
3answers
119 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
2answers
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
3answers
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
4answers
760 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
6answers
857 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
4answers
339 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 ...
5
votes
4answers
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 ...
4
votes
3answers
3k 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
2answers
88 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
3answers
191 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
2answers
227 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
3answers
4k 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?
2
votes
4answers
388 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.
15
votes
4answers
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 ...
5
votes
4answers
213 views

Risk Management - minimum data?

I'd like to come up with a "3x5 card risk board" which is essentially a movable dry-erase board where 3x5 sticky cards can be posted by the team and moved/reviewed daily/weekly as needed. (I use the ...
1
vote
2answers
173 views

What is the Procedure For Handling High Risk Involving Another Team's Conflicting Goals?

I am working on an ongoing project which spans over the course of several years. The project has moved to the stage where the product we're building has customers. Our management structure is the ...
7
votes
5answers
9k views

How to calculate budget margin?

Say a work package (containing several tasks) is estimated to take between 320 (Most likely) and 480 (Worst case) hours of work (not duration) to complete. Because of some dependencies and the ...
9
votes
5answers
416 views

Risk Register is a public document in a project?

Risk Register normally contains very sensitive information about potential problems. Some of them sound very scary like "we may loose our key sponsor" or "our CTO may eventually leave the company". ...
8
votes
3answers
545 views

How do you allocate people to very small projects?

I've seen many organisations where project managers would reason like this: We specialise in very small projects. Since a very small project needs a very small team, I should allocate one ...
8
votes
1answer
216 views

How many risks normally stay in your hot list?

How many risks do you manage actively out of your Risk Registry? And how many residual risks do you have there?