The
Project
Risk Assessment
answers the following questions.
- Are the scopes of the
potential projects adequately defined?
- 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 there any potential issues
to consider, such as regulatory approvals and marketplace concerns?
How-to
- Complete the
Project
Risk Assessment
as a team exercise. Ensure you have team members representing various functions
of your process.
- 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.
- Use the following scale to
rate the impact of each risk factor on the project.
- 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.
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