part 1 risk project
Jessica1990
projectrisknotes2.docxThe purpose background should also talk a bit about the specific project (what it is and what we hope to accomplish).
Make certain that the approach is your approach. You as the PM get to decide how best to manage risk for your project and the process. Same for the roles, tailor those to your specific needs and add/delete as appropriate for your project. Same for the frequency of updates and the table below should be specifically tailored for your needs.
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Likelihood |
Low |
Medium |
High |
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Unlikely |
Likely |
Almost Certain |
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Impacts |
Low |
Medium |
High |
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Schedule |
Less than 5% impact on the completion date of major phases and the critical path |
Between 5% and 40% extension on the tasks along the critical path of the construction project |
Over 40% extension on the tasks along the critical path of the construction project |
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Cost |
Less Than |
$500 |
$500 |
to |
$100,000 |
Greater Than |
$100,000 |
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Quality |
Minor impact on the constructed office that can be changed without reconstructing or redesigning the office. |
These are impacts that will require redesign and reconstruction of minor parts of the office, such as one of the washrooms or a window. |
These are impacts that will require major redesign and reconstruction of the building’s main parts such as the roof and the floor. |
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Safety |
These are impacts that will affect the workplace safety of workers without causing major injuries. One can be treated on the site and continue the work. |
These are moderate safety issues that will make a worker to seek medical attention for some hours before resuming work |
These are major impacts that will require a worker to seek medical attention for more than a day, cause a disability, or even death. |
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Scope |
<1% change on the scope |
2% to 5% change of the scope |
>5% change of the scope |
