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• Technical, quality, or performance risks Technical risks are associated with new, unproven, or complex technologies being used on the project. Changes to the technology during the project implementation can also be a risk. Quality risks are the levels set for expectations of impractical quality and performance. Changes to industry standards during the project can also be lumped into this category of risks.

• Project management risks These risks deal with faults in the management of the project: the unsuccessful allocation of time, resources, and scheduling; unacceptable work results (low-quality work); and poor project management as a whole.

• Organizational risks The performing organization can contribute to the project's risks through unreasonable cost, time, and scope expectations; poor project prioritization; inadequate funding or the disruption of funding; and competition with other projects for internal resources.

• External risks These risks are outside of the project, but directly affect it—for example, legal issues, labor issues, a shift in project priorities, or weather. "Force majeure" risks can be scary, and usually call for disaster recovery rather than project management. These are risks caused by earthquakes, tornados, floods, civil unrest, and other disasters.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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