Mastering Microsoft Project 2002

Overview

Risk refers to events that introduce an element of chance into a project. You can’t predict the future, so every project involves risk. Projects that include something innovative and therefore less predictable—for example, a new product design or a development process that you haven’t used previously—have a higher chance of failure than a project implementing a procedure that’s tried and true. In this chapter, we’ll discuss strategies to analyze and manage project risk. We’ll cover the following topics:

• Assessing risk

• Identifying high-risk project activities

• Using PERT to estimate duration

• Viewing the critical path

• Using the network views