, Project Risk Management.
• Every project is risky, meaning project outcomes would
not turn out as planned.
• The project could significantly overrun cost or schedule
targets; the end-item may fall short of requirements.
• Project outcomes result from many things, including
some that are rather unpredictable and over which
project managers have little control.
• Risk level is associated with the certainty that outcomes
will be as expected.
• High-certainty outcomes have low risk; low-certainty
outcomes have high risk.
• Certainty derives from knowledge and experience
gained in prior projects as well as management’s ability
to mitigate anticipated risks and respond to emerging
problems.
• Every project is risky, meaning project outcomes would
not turn out as planned.
• The project could significantly overrun cost or schedule
targets; the end-item may fall short of requirements.
• Project outcomes result from many things, including
some that are rather unpredictable and over which
project managers have little control.
• Risk level is associated with the certainty that outcomes
will be as expected.
• High-certainty outcomes have low risk; low-certainty
outcomes have high risk.
• Certainty derives from knowledge and experience
gained in prior projects as well as management’s ability
to mitigate anticipated risks and respond to emerging
problems.
