CHAPTER 32
Declare Your Project’s Risk Value
Assigning a risk value is a means of gauging the likelihood of a project achieving a designated key commitment. The commitment could be, for example, the next major milestone or the delivery date for the product being built or the service being offered.
Defining Levels of Risk Value
Risk values that can be assigned to a project vary widely in practice. Some examples are:
- Low, medium, high
- Green, yellow, red
- One, two, three
- Up arrow, down arrow, sideways arrow.
The risk value reveals the current state of the project through the assignment of a relatively simple measurement mechanism; in most cases, three levels of risk are sufficient.
Figure 32-1 presents an example of definitions that could be applied ...
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