Give me your thoughts.....Do you think proper risk assessments is done at the beginning and during projects? If so, how do we account for project failure?
Tamekia WilliamsAdministration| Regional Municipality of DurhamToronto, Ontario, Canada
Do you think proper risk assessments is done at the beginning and during projects? If so, how do we account for project failure? Saving Changes...
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
Thinking about anything you do into your own personal life. How do you make risk assessment? Or let me say, how do you think about "what if"? The same in projects. Saving Changes...
Eugene FranksProgram Manager| US Transportation CommandSaint Louis, Mo, United States
Risk management needs to be performed throughout the project from beginning to end . Success or failure should be defined by the project sponsor In conjunction with the customer the project manager and the project team . It should also be able to be measured against the project scope statement . Saving Changes...
Not all projects fail due to ineffective risk management but it certainly does increase the likelihood of failure, especially as project complexity increases.
If you read the articles in PM Network of mega-projects which have succeeded, every one of them highlights risk management as a key contributor to the project's success.
However, just because we are responding to risks, doesn't mean our responses will always be effective.
We can account for project failure because it can be due to many other factors in addition or inappropriate risk management, or while including effective risk management. Saving Changes...
Mansoor MustafaSenior PM| Government DepartmentRawalpindi Punjab, Pakistan
Proper risk management should have to be done through out the execution of project, project usually not fail due to proper risk management, it is failed for not doing it properly, any project have 5 or more workaround (unplanned response to risk management) must be re planned. Saving Changes...
Risk assessment should be carried out as regularly as possible when resource is permitted during the life cycle of project. However, it is more important to add risk identification as Must Agenda in every project team meeting. New risk may be identified during the course of project life cycle - in Control Risk. Project may still failed even risk assessment or risk response planning & control risk process is exercised accordingly. In my opinion, it is the "unknown magnitude" of risk impact that after risk response - residual risk. Is the existing project capacity ready & able to handle a workaround with "unknown magnitude" of residual risk that is never expected for. You could not quantify the magnitude until it happened. Saving Changes...
Projects are often a balance of what can you do within a given amount of time and an amount of money.
You could identify all the risks that affect your project. You may be unable to implement all risk actions because of insufficient time or money. You do the higher priority risks first. Saving Changes...
You need to make a distinction between Risk Identification/assessment and Risk Management. The project fails due to improper response to the risks including identified or unidentified. You always need to identify the risks and plan to deal with them. Failing to do so, may lead to project failure. Nearly all of the risks can be identified in a proper time. This increase the chance of success. Saving Changes...
Interesting data point - I am teaching a PM foundations course this week, and I asked my class of accidental PMs to come up with coming causes for project failure. Out of 20+ causes, the only one related to risk management which they came up with was "Unforeseen circumstances". The majority of the others were related to unrealistic constraints, poor communication, poor requirements management, poor project definition and ineffective staffing or sponsorship.
Kiron
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1 reply by Vincent Guerard
Nov 23, 2017 7:40 PM
Vincent Guerard
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The risk of poor requirement management, poor definition....
Interesting data point - I am teaching a PM foundations course this week, and I asked my class of accidental PMs to come up with coming causes for project failure. Out of 20+ causes, the only one related to risk management which they came up with was "Unforeseen circumstances". The majority of the others were related to unrealistic constraints, poor communication, poor requirements management, poor project definition and ineffective staffing or sponsorship.
Kiron
The risk of poor requirement management, poor definition....
