Project Management

Think of a project manager as a person who wears many hats. This someone is the ultimate business expert and makes sure a project is accomplished in a set time. This same person will also plan the budget and scope of the project with its team. Project Management deals with defining and managing every stage of a project from planning to execution while ensuring all business goals and strategies are met.

Questions

Project Management Risks

How to Identify risks that can have an impact on the project.

Risk is often seen as a negative aspect when referring to a project. Risk can be defined as an uncertain event or condition that will have either a positive or negative impact on project objectives. Some risks could have disastrous impacts to the project. However there are some risks that actually open up unseen opportunities. For example, a positive risk might be that your servers crashed because demand suddenly spiked for your project. That’s a good problem to have.

Risk itself is not necessarily a bad thing. However as a project manager, it is very important that you are aware of the different type of risks and develop a plan of action accordingly, in order to prevent the risks.

Below are some specific tools and techniques for identifying risks:

Documentation Reviews

Information Gathering Techniques - Brainstorming, Delphi Technique, Interviewing, Root cause analysis

Checklist analysis - previous similar project, lowest level RBS

Diagramming Techniques - cause and effect diagram, system and process flow chart, influence diagrams

SWOT Analysis



Question 1

Which of the following techniques are used to identify the risks? Select only one answer.

  • Diagrams
  • Root Analysis
  • Checklist Analysis
  • All types of projects