It's the project manager's responsibility to review all the risks, and then determine which will be added to the risk registry. One risk is schedule risks.
Schedule risks are issues with the actual development of the project schedule, such as risks associated with estimates or dependencies, or issues that could occur along the critical path.
EXAMPLEA manager of a project with the goal of creating a new shopping website for an organization will have tasks associated with payment processing.
|1/10||Inexperience with online shopping systems will cause variability in effort estimates||HIGH||MEDIUM||Have additional programming resources available if schedule slips|
Resource risks are any issues that might arise with people or any other resource needed to complete the project.
EXAMPLECreating a shopping website will require experienced programmers, and there could be a risk that those programmers will not be available when needed.
|2/18||Senior programmers may not be available when needed for project||MEDIUM||MEDIUM||
Contact department leads two weeks prior to the time programmers are needed to confirm availability
Provide junior programmer more training
Deliverable risks are risks with the actual deliverables. These involve possibilities such as the deliverables not performing as expected, or an organization having issues creating a deliverable with which it has little experience.
EXAMPLEA shopping website project will need reliable backup systems as a deliverable, and there's a risk that the equipment chosen fails to operate as needed.
|2/18||Backup system does not perform as expected||LOW||HIGH||Move the installation of backup system earlier in the schedule so changes can be made if validation fails|
Assumption risks are risks involving the assumptions that are made about a project during the creation of a project scope.
EXAMPLEThe shopping project assumes that PayFast will be the method used for all payment processing. If a decision is made to change from that system, there will be an impact on the project in terms of schedule and cost.
|3/05||PayFast is not used as the payment processing system||LOW||MEDIUM||Code should be designed and programmed to allow use of another payment system, if needed|
The project manager should review the project scope, schedule, and plan to discover any risks, such as the ones we just discussed.
Anything that might impact the time, cost, or scope of a project should be considered. Remember that any impact on one of those variables will likely impact the other two.
Source: This work is adapted from sophia author jeff carroll.