Risks represent potential future events or circumstances that could have an impact on your project. Generally we think of risk having a negative impact. However, what if the impact on your project was positive? In that case you would have an opportunity risk. Continue reading Should You Factor Positive Risk into Project Planning?
After you identify project risks, you need to analyze them to see which ones are important enough to manage. The most common form of analysis is called qualitative risk analysis. The risk level is referred to as “qualitative” since it is a quick approximation and does not reflect the rigor of a detailed, numerical analysis. The overall risk level can be as simple high, medium, or low, depending on the severity of impact and the probability of the event occurring.
There are many techniques for performing qualitative risk analysis. Here are two examples. Continue reading Two Techniques for Qualitative Risk Analysis