Project Management For Dummies, 4th Edition

Chapter 8

Venturing into the Unknown: Dealing with Risk

In This Chapter

Coming to terms with risk and risk management

Taking a closer look at risk factors

Examining risk likelihood and effects

Strategizing to stay on top of the risks

Drafting a risk-management plan

Your first step in managing a successful project is to develop a plan to produce the desired results on time and within budget. If your project lasts a relatively short time and you’re thorough and realistic in your planning, your project will most likely be a success.

However, the larger, more complex, and longer your project is, the more likely you are to encounter some aspects that don’t work out as you envisioned. Thus, you have the greatest chance for success if you confront the possibility of such changes head-on and if you plan to minimize their undesirable consequences from your project’s outset.

This chapter discusses how to consider potential risks when you’re deciding whether you’ll undertake your project, when ...