Saturday, January 30, 2010

Common Risks

The list of common risks that most projects will encounter forms a starting point for developing a catalog of risks. However, the list ¡s not exhaustive; most project managers will find several more risks that they can add, and project experience will tend to increase this number. When you are assessing the risks for your projects, always refer to a list such as this. Otherwise, you run the project management risk that not all project risks are identified.

image Staff Risks
- Key staff will not be available when needed
- Key skill sets will not be available when needed
- Staff will be lost during the project
image Equipment Risks
- Required equipment will not be delivered on time
- Access to hardware will be restricted
- Equipment will fail
image Client Risks
- Client resources will not be made available as required
- Client staff will not reach decisions in a timely manner
- Deliverables will not be reviewed according to the schedule
- Knowledgeable client staff will be replaced by those less qualified
image Scope Risks
- Requirements for additional effort will surface
- Changes of scope will be deemed to be included ¡n the project
- Scope changes will be introduced without the knowledge of project management
image Technology Risks
- The technology will have technical or performance limitations that endanger the project
- Technology components will not be easily integrated
- The technology is new and poorly understood
image Delivery Risks
- System response time will not be adequate
- System capacity requirements will exceed available capacity
- The system will fail to meet functional requirements
image Physical Risks
- The office will be damaged by fire, flood, or other catastrophe
- A computer virus will infect the development system
- A team member will steal a confidential material and make it available to competitors of the client
image Schedule Risks
- Wrong time estimation
- Resources are not tracked properly. All resources like staff, systems, skills of individuals etc.
- Failure to identify complex functionalities and time required to develop those functionalities
- Unexpected project scope expansions
image Budget Risks
- Wrong budget estimation
- Cost overruns
- Project scope expansion

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