The Risk Statement: Bringing Clarity to Project Uncertainty
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is a Project Leadership SeriesSM Web’n Learn designed to help project management stakeholders better identify and describe the project risks. Participants will learn how to better articulate the nature of project uncertainties (risks) by formulating a risk statement. A risk statement provides a template to outline the conditions, consequences, and quantifiable measurements for an identified uncertain event that, if it occurs, could have an impact (positively or negatively) on a project.
Course Baseline
The construction project manager, in the monthly project review meeting with the sponsor, announces that “there is a risk that we will encounter some weather challenges during this project.” The sponsor, genuinely intrigued by this statement asks the project manager to be more specific. “Well,” the project manager says, “any weather issues can delay the delivery our project.” The sponsor, wanting to understand what this really means to his project, presses on. “I understand that”, the sponsor responds, “however; I need to understand what extent this could impact our project. In other words, what are the extremities of the weather impact? Are we talking about a normal rainstorm or are you meaning that we will encounter a monsoon of biblical proportions that will wash out our entire project? I really need to understand the overall likelihood and potential impact before I can take any relative action.”
This exchange, though hypothetical, reflects a common scenario while managing risks in a project environment. Project practitioners may conduct risk management processes as part of the project life cycle; however, all too often team members do not adequately describe the nature of the risk.
PDUs or Project Management Education Contact Hours: 1.5
This session will be facilitated by Chris Wright, CPLP®, MPM, PMP®. To learn more about Chris, check out his bio.
All Project Leadership SeriesSM instructors are certified Project Management Professionals (PMP)® with many years of hands-on project leadership experience in a multitude of industries.
This session is powered by Tanden LLC, a Global Registered Education Provider (R.E.P) of the Project Management Institute (PMI)®
PMP and PMI are registered marks of The Project Management Institute, Inc.
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