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Topics: Risk Management
What percentage of risks identified in your projects actually occur?
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Would it be 10-20%?
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That may depend on the type of projects. I am not sure the percentage would be the same for a software project vs a construction project. Of course, I only know software projects.
If you do your Risk Management properly, I would hope that the majority of risks would be avoided, transferred or mitigated. The ones you accepted and the ones you did not identify would be in this category. Therefore, 10% or less is my guess.
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1 reply by Sante Vergini
May 09, 2018 5:18 PM
Sante Vergini
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Risks that were for example mitigated (or rather a risk plan that mitigated the risk), doesn't really tell us if that risk actually occurred. 10% sounds like a reasonable number.
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I never measured this number. But I think it depends on nature of the particular project. Some are low risks and identified risks can be easily avoided or they were never going to occur. But when it’s a high risk project than a lot of the identified risks actually occur or require effort to avoid them and you have to deal with them.
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1 reply by Sante Vergini
May 09, 2018 5:20 PM
Sante Vergini
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Yes it seems very rare that PM's actually track this number. No one perhaps wants to advertise that they had a bunch pf risks that occurred, but I think it would be good in lessons learned. They can of course be graded; perhaps many occurred but they were low impact.
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There is no right answer for this questions. It differs from one project to another and one situation to another so there it is difficult to come up with a set percentage range. I would say 0% - 100% :D
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1 reply by Sante Vergini
May 09, 2018 5:08 PM
Sante Vergini
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lol Rami, cover all bases huh ;-)
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I agree with my colleagues here, It's not easy to measure and it depends on the particular project. In my experience I guess it would range between 0% - 40%
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1 reply by Sante Vergini
May 09, 2018 5:20 PM
Sante Vergini
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An average of 20% then Anish.
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For those projects where people were actively involved in identifying risks AND active in creating mitigation strategies - I would say 5% (1 in every 20 impacted that were identified and did NOT have a mitigation plan). For those projects with little involvement, I would say 1%-3% (1 in a 100) BUT unidentified Risks did impact......with greater cost to the project
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1 reply by Sante Vergini
May 09, 2018 5:36 PM
Sante Vergini
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Interesting Meade. I was sure to put "identified" in my question, but unidentified risks would be another interesting percentage to know.
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Sante -

More important would be, what percentage of impactful issues were originally identified and managed through your project risk management practices?

Kiron
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1 reply by Sante Vergini
May 09, 2018 5:14 PM
Sante Vergini
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Some risks that actually occur are also managed yes, but this is more about finding an average risk occurrence percentage across all (of those surveyed) projects,whether they are managed or not.
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May 09, 2018 10:39 AM
Replying to Rami Kaibni
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There is no right answer for this questions. It differs from one project to another and one situation to another so there it is difficult to come up with a set percentage range. I would say 0% - 100% :D
lol Rami, cover all bases huh ;-)
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1 reply by Rami Kaibni
May 09, 2018 5:11 PM
Rami Kaibni
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LOL
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May 09, 2018 5:08 PM
Replying to Sante Vergini
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lol Rami, cover all bases huh ;-)
LOL
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May 09, 2018 2:00 PM
Replying to Kiron Bondale
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Sante -

More important would be, what percentage of impactful issues were originally identified and managed through your project risk management practices?

Kiron
Some risks that actually occur are also managed yes, but this is more about finding an average risk occurrence percentage across all (of those surveyed) projects,whether they are managed or not.
Network:12233



May 09, 2018 9:49 AM
Replying to Dinah Young
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That may depend on the type of projects. I am not sure the percentage would be the same for a software project vs a construction project. Of course, I only know software projects.
If you do your Risk Management properly, I would hope that the majority of risks would be avoided, transferred or mitigated. The ones you accepted and the ones you did not identify would be in this category. Therefore, 10% or less is my guess.
Risks that were for example mitigated (or rather a risk plan that mitigated the risk), doesn't really tell us if that risk actually occurred. 10% sounds like a reasonable number.
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