Abdulrahman AbuhayahP.M.O Director| Adaptive TechSoftRiyadh, Riyadh, Saudi Arabia
Hellow everyone, I had the following discussion with my colleague:
Friend: "what is the relationship between risk and issue?"
me: "what do you mean? they are two different things?"
My Friend repeated his question...
Me: "an issue is an existing problem recorded in the issue log and must be followed out by the project manager. a risk is an anticipated uncertainty that has a response plan associated with it, once a risk occurs, it can be mitigated, accepted, avoided...etc."
Friend: "when the risk occurs, it becomes an issue and it can be registered in the issue log"
Me: "No, when the risk occurs, it will be handled (supposedly) differently, there is a risk response plan in place, why it is needed to put it in an issue log, moreover, risks are handled differently than issues. I don't agree that risks can be input to the issue log, I don't see why."
The risk management should have identified action to try to avoid the risk. Once it has occurred, the plan to manage the risk should be applied. In case there is no such plan in other there is a detail plan that may include crisis management.
The way the plan is executed is to the PM, that will have to answer on the result. If the plan is applied or not and according to result the PM will get proper evaluation. Saving Changes...
Dear Kiron,
Thanks for your prompt replay. However, what do you mean by "realized" do you mean to know that's it's going to happen, or it started already?
Can you please be more specific
The term "realized" is used when a previously identified risk has occurred.
As Andrew mentioned, they are likely a different set of processes for managing issues (e.g. updating issue logs, informing certain stakeholders) but some of the resolution activity might have been already planned as part of your risk management activities.
Kiron Saving Changes...
Dinah YoungProject Manager / Software Asset Manager| Prince William CountySpringfield, Va, United States
As has been stated a risk is something that may occur. You may have put in place process to avoid the risk, mitigate or accept with a contingency plan.
Issues are items that occur outside of your risk processes often. Bugs in the software, change of scope etc.
If a risk occurs and is not handled by a contingency plan then it can become an issue. There may be secondary risks that were not planned for. This is an issue and a workaround is needed. The contingency plan may not have fully resolved the risk that then the remnants become an issue. There are residual risks that may be added to the issue log. Saving Changes...
Manoj BankalSr. Director, Project & Program Management| NTT DataRiverton, Nj, United States
Risk and issue differ on - Probability of occurrence and response plan. PM's "plan" to address risk if and when they occur whereas Issues are addressed when they occur based on their severity and impact. If a risk is logged in a risk register with NO Risk response plan for it, then obviously when it materializes you have NO plan to deal with it and hence has to be addressed as an Issue. Saving Changes...
Good discussion now what if the realized risk is bigger than an issue, it becomes a problem?
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1 reply by Kiron Bondale
Mar 06, 2018 12:56 PM
Kiron Bondale
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Riyadh -
A realized risk might result in more than one issue, but your issue classification should handle differing issue severity levels. As I mentioned in one of my earlier responses, the realization of a risk is a good opportunity to revisit the qualitative or quantitative analysis which was done earlier.
Good discussion now what if the realized risk is bigger than an issue, it becomes a problem?
Riyadh -
A realized risk might result in more than one issue, but your issue classification should handle differing issue severity levels. As I mentioned in one of my earlier responses, the realization of a risk is a good opportunity to revisit the qualitative or quantitative analysis which was done earlier.
