In addition to all previous comments, it is also important (and time saving) to use the historical list of risks for similar projects. If a Risk Breakdown Structure has been done in past projects, then risks may be classified into Organizational, Technical, Financial, etc. which might make easier to pick out for on-going/future projects.
As a final check for risks, I review each task and thin "What could I do to sabotage this task?" I find it helps change my perspective, which helps me see risks I previously overlooked.
Good question
The following aspects to be taken care.....
1. To check project/program/portfolio related risks
2. To check with team by briainstroming method
3. Organisation level/team level (new technology, training etc)
4. Earlier project risk from peer team
Through this exercise, potential risks are identified and mitigated for the project.....
Nice approach Eric, and i think you could also take a look at the external risk factor, like market conditons and law regulations. That said, the approach is pretty dependent on the business segment tyou are in and the external factors may prevail. Cheers,
The best way to identify risk to have everyone who has a stake (passively and actively) in the project involved. Everyone has their own perspective which can add value in identifying opportunities and threats.
Thank you for making me think about the possible approach to this topic. There are several factors that must be considered prior to have the risks of a project. The next three lines could help identify risks:
- Calling meetings with the different subject matter experts for risk gathering.
- Call a meeting with main stakeholders and perform risk gathering.
- Meet with sponsor for risk gathering.
- Send risk register to stakeholders and project team involved in the project. .
- Risk register can now be sign off. Saving Changes...
Arif PUNJWANIProject Manager| skeyesMechelen, Antwerpen, Belgium
Brainstorming with your project team is the first thing. Check also with subject matter experts (SME) as this could could in any of the domains (legal issues in contract, financial issues for example bank warranty, technical issues, quality). Do a follow-up an keep risk register alive. Besides identifying don't forget to have a risk respons plan. Talk also outside your project team / stakeholders to have an different (outside) approach for possible risks. Good luck! Saving Changes...
Diego FerrerManaging Principal| Quant16Chicago, Il, United States
My recommendation would be to bring in subject matter experts, do some brainstorming, look at lessons learned, review previous documentation and do a SWOT Analysis. Saving Changes...
You first need to make sure there is an openness on risk identification. Any technique will have low impact if people don't understand and the PM and sponsor are not supporting the activity.
Each project may require a different approach it is not a one size fit all discipline. Various technique identified here are all valuables. Saving Changes...
