Chapter 5. Managing Project Risks

In this chapter:
What Is Risk (and Why You Should Care)?	99
MSF Risk Management Process	110
Summary	140

With so many really smart and methodical people on project teams, why are there still so many projects over budget and blowing schedules? It is hard to believe this is technology related because technologies have come and gone with little difference. In discussions with project teams as to why this is likely to have occurred given their best efforts, most of them attribute it either to unplanned events disrupting progress or planned events not going as planned. Although Microsoft Solutions Framework (MSF) does not eliminate these types of things from happening, MSF does offer a means to minimize their impact through proactive management.

As do most frameworks and methodologies, MSF recommends that it is far easier to minimize project-impacting events and conditions proactively before they become project issues. Potential issues that have yet to materialize are classified as project risks. This chapter discusses how to assess risk and proactively handle it.