#18 – IN SEARCH OF RISK! – FRANK HARRIS

Frank HarrisRisk is defined as always in the future and is an uncertain event or condition that, if it occurs, has an effect on at least one project objective (usually in the area of scope, budget, or schedule).

As a project manager or a stakeholder on a company endeavor, risk is the one thing you must search and destroy as soon as possible and maintain that attitude throughout the project life cycle as the consequences of not understanding these risks can certainly doom all good intentions on any project. Continue reading

#14 – HOW TO CALCULATE PROJECT RISK – FRANK HARRIS

Frank HarrisIn the PMI PMBOK guide, Risk is defined as always in the future and is an uncertain event or condition that, if it occurs, has an effect on at least one project objective (usually in the area of budget, schedule or quality).

Risk is the scourge of project management as it is the only ‘unplanned’ event that the project team must try to first, identify, and secondly, determine the effect of this uncertainty on the overall project or organizational goals then thirdly, attempt a strategy to minimize the impact.  Risk is managed throughout the project life cycle and each risk is placed into the project Risk Register.  (See below example of Risk Register)

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