Risk analysis

Identify the main things that can be seen as possibly going wrong. Typically this might include:

• unavailability of resources (as with a delay in getting a software package);

• unavailability of key client personnel;

• technical problems (such as software bugs).

A priority can be given to each risk by allocating a probability rating (I -10) and a seriousness of impact rating < 1 — 10). Multiplying the two together gives an overall score for priority purposes.

For the most serious risks (those w ith the highest scores), preventive measures to reduce or remove the risk should be specified. For example, in order to prevent problems with the unavailability of key client personnel, meetings must be arranged with them at the planning stage and holiday plans may be ascertained. In some cases contingency measures (hat can be undertaken once the risk has actually materialized are more appropriate.

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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