Use the Project Risk Assessment form to evaluate the likelihood of completing a project on time.
Answers the questions:
- Are potential projects properly scoped? Does the process have ongoing defects?
- What is the likelihood that a proposed project can be completed on time?
- What is the likelihood that the necessary resources for the proposed project will be available? This could include capital investments, support from external organizations, and team resources.
- What is the likelihood that the projected benefits will accrue as predicted?
- Are any potential issues (such as regulatory approvals and marketplace) beyond local control?
|When to Use
||Use to evaluate project parameters such as capital, involvement of external organizations, regulatory approvals, team resources, and so on, and the likelihood of obtaining them.
||To ensure that you start only projects with a reasonable chance of success.
||For critical projects, use to identify potential project roadblocks early in the process.
This form has no data requirements because you use it only to collect and organize data.
- Assign relative importance, or weight, to each criteria. Use a 1-9 scale, where 9 is a high-risk factor and 1 is a low-risk factor.
- The Project Risk Assessment is a supplement to the Project Prioritization Matrix. You can use the total risk score from the risk assessment tool as an aid in determining the ease of completion score in the project prioritization tool because projects with large risks are viewed as being more difficult to complete.
- Complete the Project Risk Assessment as a team exercise. Ensure you have team members representing various functions of your process.
- The evaluation criteria is broken down into four categories: scope/definition of project, deployment/leadership, team leader, and project closure/benefits.
- Each category contains predefined risk factors. The Six Sigma leadership team should make any changes to the list of risk factors.
- Evaluate and rate the impact of each risk factor on the project. Engage uses the following scale:
- Yes = 1
- Probably = 3
- Maybe = 4
- Probably Not = 5
- No = 10
- Sum all the ratings to obtain a total risk assessment value which reflects the risk of timely and beneficial project completion.
For more information, go to Insert and fill out a form.