Studies have shown that most project failures are due to poor management of known risks. The known risks are:

• Scope
• Schedule
• Cost
• Quality

Scope

The contract statement of work (SOW) defines the project scope. The challenge to the project manager is to perform to the scope but not more and not less. Sometimes the scope is not fully defined or mis-understood creating a serious risk situation which may not be known until late in project. The project manager is responsible to ensure that the scope is clear to the project team, so everyone is on the same page. Continue reading →