Managing project risk
A risk is an uncertain event that would affect the project if it happened. The point is to think about it before it happens. It's the same likelihood–impact matrix from the governance track, applied to a project.
| Response | Meaning | App example |
|---|---|---|
| Avoid | Change the plan so the risk can't happen | Drop in-app payment from version 1 |
| Transfer | Shift the impact to a third party | A contract with late-delivery penalties |
| Mitigate | Reduce likelihood or impact | Early load testing before Ramadan |
| Accept | Live with it and keep a reserve | A small delay in designs |
Watch outRisk isn't always bad! There are opportunities too: “if we finish early we can launch before the competitor”. They have mirror responses: exploit (make sure it happens), enhance (raise its odds) and share it with a partner.
Each risk goes into the risk register with its description, likelihood, impact, response and owner. Most important: review it weekly, because risks change.