Studies show most projects fail due to poor management of known risks. The known risks on a project are:

1. Scope.
2. Schedule.
3. Cost.
4. Quality.

Generally speaking, cost problems are due to insufficient budget, poor budget control, and poor planning. How to minimize the cost (budget) risk on a project is addressed in this paper. The approach to do this is based on my 30 years of project and project risk management experience and knowledge. Continue reading →