Valuing Agile

6 Managing uncertainty

All projects face a variety of risks, the most common of which arise from clarification of requirements (including identification of customer needs), technical implementation, people, suppliers, project approach and scheduling (i.e. resources and finances). The last two risks affect how projects are appraised, which in turn determines whether or not funding is provided. Thus it becomes necessary first to understand in general terms what is meant by risk and how it is managed. Thereafter, the project manager can turn their attention to the many sources of financial risk and consider the options available. Risk management is therefore a holistic practice that must continually re-evaluate the project by framing each increment ...