| Being optimistic is a wonderful thing, but being overly | | | | So, of all of the risks you've identified, you might |
| optimistic -- in the face of unrealistic odds -- can | | | | label one of them "Too Many Features/Too Little |
| sabotage a project's success. Over-optimism abounds | | | | Time." This means that the project requirements are |
| when people view every project as a "must-win" | | | | too numerous, too complex, or both, given the time |
| effort while failing to flag potential problems. In Part 2 | | | | available. |
| of this series, we identified 10 types of risks related | | | | 1b. Next, describe the kinds of problems this risk |
| to choosing, estimating, and staffing your projects. | | | | could cause. |
| After identifying the potential risks, the next phase | | | | Also ask how likely it is to occur. For instance, if |
| entails assessing to what extent the risks can | | | | you're concerned that you won't have enough time in |
| negatively affect your project in areas such as cost, | | | | the schedule to incorporate everything requested, |
| schedule, quality, or features. This article (Part 3 of | | | | what problems might it cause whoever will be using |
| the series) explains how you can quickly evaluate any | | | | the product, system, or solution? Are those chances |
| risks you've identified to see whether they're likely to | | | | fairly high? Describing these concerns can help |
| overwhelm your project. | | | | everyone on your team agree on just how serious |
| Risks You May Have Flagged | | | | that potential risk is. |
| Using the ideas in Part 2 of this article series, you and | | | | Example: Your relatives might arrive while the work is |
| your team may have identified one or more concerns | | | | still in progress, and the kitchen will be unusable. Also, |
| related to a project you're weighing. Ten | | | | if you bow to the pressure to hurry, the quality of |
| considerations appear below; you might think of | | | | the work may be low. Both of these problems are |
| many others. If your answer to any question is "yes" | | | | likely if your family members try doing the work |
| -- or even "maybe" -- in relation to your project, it | | | | themselves, since they're not skilled in home |
| means that you've flagged a risk: | | | | improvements. |
| 1) Is the project non-compelling or a bad fit for the | | | | 2. Give each identified risk a "potential impact" score |
| project team? | | | | or rating. |
| 2) Will the project scope entail operating in unfamiliar | | | | You can give each risk a High Impact, Medium |
| territory? | | | | Impact, Low Impact, or No Impact score, based on |
| 3) Are project requirements, such as product | | | | simple numbers you can derive easily. One way is to |
| features, complex? | | | | assign relative values to the negative impact a risk |
| 4) Are the requirements pitted against an aggressive | | | | may have on the project cost, schedule, quality, and |
| schedule? | | | | features -- with a different value possible for each of |
| 5) Are too few personnel and resources available for | | | | these four areas. For example, a high negative impact |
| the project? | | | | might be a 9, a medium impact a 5, a low impact a 1, |
| 6) Will coordination with many different collaborators | | | | and no impact a zero. |
| be needed? | | | | Example: Your kitchen redecorating project might |
| 7) Are the primary collaborators unfamiliar to the | | | | earn scores like those below. |
| project team? | | | | * Cost - You estimate that by doing the work |
| 8) Are project team members discouraged from | | | | yourselves, you'll possibly save money (if you don't |
| raising concerns? | | | | botch the job). So your "Too Many Features/Too |
| 9) Are there insufficient review and test cycles in the | | | | Little Time" risk might have a medium negative |
| schedule? | | | | impact on cost, for a score of 5. |
| 10) Are there no standard protocols for managing | | | | * Schedule - Since you feel backed into an almost |
| scope changes? | | | | unworkable time frame, you expect a high negative |
| Assessing the Risks You've Identified -- How | | | | impact on schedule, for a score of 9. |
| Worrisome Are They? | | | | * Quality - Because you expect to rush through the |
| Once you have a list of risks, you can next assess | | | | project, you anticipate a high negative impact on |
| them to find out whether they will be mildly annoying | | | | quality, for a score of 9. |
| or could wreak havoc on your project. This is a quick | | | | * Features - Some features probably can't be |
| and simple process for evaluating them: | | | | completed, regardless of how fast you go. You |
| 1a. Start by giving each risk a name or label. | | | | foresee a high negative impact on features, for a |
| Example: Imagine that your family has approached | | | | score of 9. |
| you about redecorating your kitchen because your | | | | The total score for all four areas in this example is |
| relatives are coming for a family reunion the week | | | | 32, very close to the maximum. When you complete |
| after next. Your family believes that several changes | | | | the process for any other risks you identified, you |
| are needed, as follows: | | | | can compare this score with the others to see which |
| Project requirements: | | | | risks are of greatest concern. You can then |
| * New faux paint treatment on the walls | | | | determine the priority order in which to mitigate |
| * Resurfacing all of the kitchen cabinetry | | | | them. |
| * Laying new tile on top of the vinyl flooring | | | | When you are finished with this phase, you'll have a |
| * Installing crown molding around the ceiling | | | | set of named and assessed risks. Following this, Part |
| Time available: Two weekends (four days) within the | | | | 4 in the series will explain how to brainstorm ways to |
| next 10-day period. But you don't believe that's nearly | | | | avoid, eliminate, work around, or otherwise mitigate |
| enough time to complete the job! | | | | each risk. |