Risk Assessment

Overview

In risk assessment, there are many ways to drive clarity. First and foremost is doing the exercise in the first place! We’ve seen plenty of projects that treat issues and risks synonymously—as in, an active issue is just a risk to the project, and risks are an issue that causes timeline issues. However, a risk is something that might happen and impact the project timeline, scope, or resourcing, but hasn’t happened yet. In a textbook world, meaning in theory, an issue is just a risk that has been realized—as in a risk that was already captured, and with a strategy in place to deal with it. By knowing ahead of time that something might happen, you have a better chance of avoiding it or at the very ...