First we need to look at the various sources of risks. There are many sources and this list is not meant to be inclusive, but rather, a guide for the initial brainstorming of all risks. By referencing this list, it helps the team determine all possible sources of risk.

Various sources of risk include:

  • Project Management
    • Top management not recognizing this activity as a project
    • Too many projects going on at one time
    • Impossible schedule commitments
    • No functional input into the planning phase
    • No one person responsible for the total project
    • Poor control of design changes
    • Problems with team members.
    • Poor control of customer changes
    • Poor understanding of the project manager’s job
    • Wrong person assigned as project manager
    • No integrated planning and control
    • Organization’s resources are overcommitted
    • Unrealistic planning and scheduling
    • No project cost accounting ability
    • Conflicting project priorities
    • Poorly organized project office
  • External
    • Unpredictable
      • Unforeseen regulatory requirements
      • Natural disasters
      • Vandalism, sabotage or unpredicted side effects
    • Predictable
      • Market or operational risk
      • Social
      • Environmental
      • Inflation
      • Currency rate fluctuations
      • Media
    • Technical
      • Technology changes
      • Risks stemming from design process
    • Legal
      • Violating trade marks and licenses
      • Sued for breach of contract
      • Labour or workplace problem
      • Litigation due to tort law
      • Legislation
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