Projects at Work

What Is Your Biggest Risk?

Beyond probability and impact, there are several other important characteristics of risks that project and portfolio management leaders can use to more instructively answer this seemingly simple but all-important question.


 
It should not be too hard to answer the question “What is the biggest risk in your project or business?” Most of us know what keeps us awake at night, either worrying about what could go wrong (threats), or getting excited about possible improvements (opportunities). But how do we decide which risk is the “biggest”? Is it just an intuitive feeling, or are there measurable parameters we can use?
 
It is very common to use just two factors to size risks: probability and impact. These factors estimate how likely the uncertain risk is to occur, and how significant its effect would be if it actually happened. Probability and impact are related …


Please login or register below to read the rest of the article

Subscribers login here:

OR

OR

Not a subscriber yet? Sign up here:

    You must have JavaScript and cookies enabled to use this website. Please enable javascript and refresh this page.
    How do I enable JavaScript in my browser? | How do I enable cookies in my browser?
  • First Name
    Last Name
  • Choose a password (at least 4 characters)
    Confirm your password
  • ProjectsAtWork is accredited under Return Path's Sender Score Certified™ Program. The Sender Score Certified Program helps to increase successful email delivery by requiring senders to adhere to a set of specific email standards. For more information, please see www.senderscorecertified.com.
  • please enter the text below:
  • You must have JavaScript and cookies enabled to use this website. Please enable javascript and refresh this page.
    How do I enable JavaScript in my browser? | How do I enable cookies in my browser?

ADVERTISEMENT

IN PARTNERSHIP WITH:


SPONSORS

EVENTS

Tanya E. J: "As a 'newbie' in the industry and still in training, I found this article quite …" on 5 Ways to Improve Time Tracking
July 29, 2014

Rich M: "If you are interested in our book (as referred to by Dave, Green Project Managem…" on Sustainability Rising
July 29, 2014

Anju A: "Good video and Goodest idea of correlating it to the project/program perspective…" on Good, Gooder, Goodest
July 26, 2014

Zachary M: "Pictures are extremely valuable tool for cross cultural teams! Thanks!" on Don’t Fear the Blank Canvas
July 24, 2014

 

TOP CONTRIBUTORS

Dave Prior

Agile Consultant, BigVisible Solutions
Dave Prior, PMP, CST, MBA is an Agile Consultant for BigVisible where he…

Andy Jordan

President, Roffensian Consulting Inc.
Andy Jordan is a well known author and speaker on project management and…

Bart Gerardi

Sr. Technical Program Manager, Amazon.com
Bart has been an ecommerce program manager for 15 years, and can’t…

Vicki Wrona

President, Forward Momentum, LLC
Vicki Wrona is the founder and President of Forward Momentum, a PMI Regi…

Janis Rizzuto

Contributing Editor, ProjectsAtWork
Janis has been writing for ProjectsAtWork for more than a decade, starti…

Aaron Smith

Editorial Director, ProjectsAtWork.com
Aaron has been the editor of ProjectsAtWork since 2001, leading its evol…

BLOGS

TOOLS & TRAINING

project management software
     

AtTask: the only project and portfolio management software that meets the business intelligence needs of executives, the planning needs of managers, and the collaboration needs of project teams, helping organizations get jobs done on time, on budget.

project management software
     

Changepoint helps businesses gain competitive advantage and increase profitability through complete portfolio visibility, planning insight, process automation, and improved resource utilization throughout a customer’s lifecycle. Changepoint’s busine

project management software
     

Sciforma provides a flexible and easy to use Enterprise Project and Portfolio Management software solution for industries and companies of all sizes.

ADVERTISEMENTS