We are looking for any OBJECTIVE suggestions (Checklists, value assignments, etc.) to be able to help categorize risk consistently across projects in the PMO. Thanks. Saving Changes...
Without sufficient historical data, probability assessments will always be subjective. Impact assessments on the other hand could be made slightly more objective by introducing thresholds.
For example, if the realization of a risk will result in a cost variance of $5K AND 5% of the approved budget, that's Low.
You'd want to explore methods such as Delphi to overcome some of the biases which will plague group-based assessment of risks.
Kiron Saving Changes...
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
That´s must be decided at organizational level because it depends on the organizational strategy. For example, some organizations consider that risks that contribute to cost variance of 20% and schedule variance of %10 (both up) must be high level risks. Saving Changes...
Thomas WalentaGlobal Project Economy ExpertHackenheim, Germany
There is an example in PMBoK, table 11-1 Saving Changes...
