Project Risks
CS 410
Risk Topics
Risk Identification
Risk Impact Assessment
Methods for Risk Management
Risk Identification
Schedule Risks
Financial Risks
Technical Risks
Customer Risks
Schedule Risk
Not enough people
Too much parallelism - dependencies
Equipment delays
Information delays
Permission delays - export license
Management pushes too much
Financial Risks
Austere (bare bones) budget
Additional and unforeseen expenses
Inflation issues due to schedule issues
Contract penalties - late on delivery
Reduction of funding
Availability of necessary equipment
Technical Risks
Just can’t be done
- equipment availability
- technology availability
Technology has surpassed your assumptions
Availability of technically competent People
Customer Risks
Sophistication of customer
Major Risk Factors
Resources not yet part of project inventory
Possibility of changes in project requirements
Potential alteration of fixed project dates
Unexpected losses of critical personnel
Reduction of funding
Technological achievements not realized
Improper budgets or scheduling factors
Identifying Project Risk Factors
Project plan evaluation - Q & A
Answer the "What if" questions
Review of test plan
Listing of all things that could go wrong
Risk Prioritization
Greatest damage
Longest delay
Highest cost increase
Largest detraction of project goals
Greatest disruption of project organization
Schedule Risk Management
Reduce scope of work
Extend schedule
Do more work in parallel
Jump start project by purchasing technology
Financial Risk Management
Find ways to cut corners
Less expensive hardware
Reduce overheads
Negotiate additional funds
Change labor mix
Technical Risk Management
Invest in Research and Development
Hire experts
Change approach
Don’t do it!
Customer Risk Management
Formal reviews
Specific agreements in writing