In the first two posts (Managing Project Risk the PMI Way and Building a Risk Inventory To Manage Project Risks) in this thread we looked at two classes of project uncertainties—‘macro’ uncertainties, whose impacts are felt at the project level, and ‘micro’ uncertainties, whose impact is discernible at the level of individual Work Packages.  Given the PMI project management lifecycle, these uncertainties become concrete and must be dealt with at two different points.  ‘Macro’ uncertainties must be dealt with, or at least must begin to be dealt with, with during the Initiation process group.  In fact, many of these uncertainties must be identified and management of them started before Initiation even begins.  ‘Micro’ uncertainties can only be identified and materialized fully as activities in Planning are occurring.  Continue reading →