The Secret to Managing RAID Effectively (Part 2)

Lonnie Pacelli is an Accenture/Microsoft veteran with four decades of learnings under his belt. He frequently writes and speaks on leadership, project management, work/life balance, and disability inclusion. Reach him at [email protected] and see more at ProjectManagementAdvisor.com.

  Risk Management  

In The Secret to Managing RAID Effectively (Part 1), I introduced the RAID 101 model, which articulates the interrelationships between risks, assumptions, issues and dependencies. The model has six main components:

1. Assumptions are factors about the project that you expect to go a certain way for the project to be successful.
2. Dependencies are situations where forces external to your project can impact or be impacted by your project from a scope, schedule or cost perspective.
3. Unplanned potential problems are things that could happen to impact scope, schedule or budget but weren’t defined at the project’s outset.
4. Managed risks are comprised of assumptions, dependencies, previously identified risks, and unplanned potential problems.
5. Unplanned realized problems are scope, schedule and budget problems that can no longer be mitigated and need to be addressed as an issue.
6. Managed issues are comprised of managed risks that couldn’t be mitigated and unplanned realized problems.

I previously focused on three components that feed managed risks: assumptions, dependencies, and unplanned potential problems. Now it’s time to focus on the second half of the RAID 101 model: managed risks, unplanned realized problems, and managed issues:

Managed risks:

• At its core, a good risk register contains:
  • the risk
  • its degree of impact
  • …

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