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Topics: Risk Management
Urgency, Proximity and Dormancy as risk prioritization factors
Network:0



Dear Friends,

Need some clarity on Urgency, Proximity and Dormancy as risk prioritization factors. For me its confusing. Request some insights on this with examples please.
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These are all related to timing of the risk being realized. Basically, is the train miles away or round the corner, and is the big hungry wolf sleeping or wide awake...

Kiron
Network:503



@narendera yadav -Some projects classify risks as within 7 days; over 7 days. That's example of proximity .
Bird hits are something a pilot can never escape, because it takes less than a second to react. Thats example of urgency.
If you update cost baseline, only once in 3 months, you might allow risks to lie latent for too long and suddenly one fine morning find an explosive situation. Thats dormancy - a risk that lies latent for too long.

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