Project Risk Assessment

Use the Project Risk Assessment form to evaluate the likelihood of completing a project on time.
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

  1. Complete the Project Risk Assessment as a team exercise. Ensure you have team members representing various functions of your process.
  2. 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.
  3. 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
  4. 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 Add and complete a form.

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