When to deploy?

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It is essential that risk management be deployed throughout the project lifecycle.

But the level of uncertainty is at its highest in the early phases of a project ( i.e. Strategic Assessment & Concept) when the degree of influence on uncertainty is higher but the cost of change is minimal.

MAJOR UNCERTAINTY DRIVER

  • -Degree of project definition

SECONDARY UNCERTAINTY DRIVERS

  • -Estimating techniques employed, time & level of effort to prepare estimate and the experience and skill of the estimator.
  • -Quality of:
    • -Assumptions used in preparing the estimate.
    • -Reference cost estimating data.
  • -Complexity of project and the level of familiarity with technology deployed.
  • -Unique/remote nature of project locations & conditions.
  • -Maturity of the project management system and the execution team.

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