Top Ten Project Risk

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Having a plan to manage risks is essential for project success. It does not mean you have to pull all the risks or have a contingency plan for each risk, but that is a process to evaluate and determine the risks and the decision when a response is required to prepare a project for what lies ahead.

Although there are many, many risks that could afflict project, here are ten of the top risk project that I’ve found seem to repeat themselves over and over again:

  1. Resource Risk . Make project resources have the time and / or experience in the project? Not resources working on many projects at once?
  2. Equipment Risk . Having equipment must be sufficiently defined and planned for? Is there a risk of failure or loss? You share equipment with other projects or activities?
  3. interdependencies with other projects . Is the project subject to the delivery of other projects? Are they equal or higher priority? Are they tracking as planned? If interactive delivery was late or unexpected quality of the effect it would have on the project?
  4. Timeline Risk . Was the project plan adequately planned? Does the project team have strong evaluation skills? Imposed deadlines based on external factors against realistic timelines?
  5. Scope Risk . Do you have strong requirements and scope definition? Do you have enthusiastic stakeholders who may wish to increase the project scope? Do you have negative interest groups that threaten the full scope of delivery?
  6. Technology Risk . Does the project have a solid design connectivity technologies. The structure and design enough to handle the new system? Does the project deal with new technology not used by your company before? Is the solution to the “off-the-shelf systems” that typically is less risk or a custom design solution?
  7. Risk Management . Does the project have the top down management support? Have a skilled project manager assigned?
  8. Cost Risk . Is the project sufficient funds capabilities? Are you at risk of cost overruns should the project be delayed? Was the project budget estimated sufficiently used sound budgeting methods?
  9. Vendor Risk . Does the vendor have a great track record for delivering on time, within scope and budget? Do you have three or more vendors in the project?
  10. Delivery Risk . The project has been built for practical projects cut-over or go? (ie if there is a larger project, it has been divided into phases?)

By going through this list you will likely identify additional risks as well. It is important to monitor these risks in a risk Login and determine next steps.

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