Assessing Schedule Risk


This blog originally appeared on the Humphrey & Associates website and is authored by Yancy Qualls, PSP, Engagement Director and Schedule Subject Matter Expert at Humphrey & Associates.

Why Perform Schedule Risk Assessments? EVMS and Agile implementations within the same company or on the same project.

Before a project is ready to be baselined, a typical question the customer asks the project manager is, “How confident are you that the project will finish on time?”

This is a more difficult question than you might think. In competitive environments, guessing is not an option. The probability of success on a project must be quantified. The risks that impact the odds for success must also be quantified. If the risk is managed, the probability of completing the project on time and under budget is improved.

Customers are not blind to the importance of risk management. This is evidenced by recent changes in government contracting requirements that call for formal risk assessments of project schedules. Even if risk management were not a contractual requirement, it would be irresponsible for any project manager to ignore the need for risk management and proceed without identifying and assessing the project’s risks.

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Tags: Risicomanagement , Projectmanagement
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