Who can help identifying and managing risk in a project other that the PM?

Thanks for the invitation

Good question

Well..............It,s the team leader  and sure the 

commander task force & implementation

  .with all the project,s team members as well too

 

I agree, it should be the team which should make the PM aware of any arriving problems, however the PM is still obligated to monitor any problems which could occur

"Ownership also exists on another level. If different business units, departments and suppliers are involved in your project, it becomes important who bears the burden. An important side effect of clarifying the ownership of risk effects, is that line managers start to pay attention to a project, especially when a lot of money is at stake. The ownership issue is equally important with project opportunities. 

All the stakeholders should contribute in identifying the risks. Each risk should has an owner to apply the risk response plan in case it happens. PM is responsible for monitoring and controlling the risks and take the proper action to prevent them prior to happen(acting proactively).

All Project Stakeholders can help in identifying the risks.  

Other than PM, it's project team members.

Project Risk Identification Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project. The objectives of project risk management are to increase the likelihood and impact of positive events, and decrease the likelihood and impact of negative events in the project. Project Risk identification is the most important process in the Risk Management Planning. Risk Identification determines which risks might affect the project and documents their characteristics. After the list is made, qualitative and quantitative analysis is done to figure out which risks you spend time and/or money on. There are some specific tools and techniques for identifying risk as listed below:1. Documentation Reviews2. Information Gathering Techniques - Brainstorming, Delphi Technique, Interviewing, Root cause analysis3. Checklist analysis - previous similar project, lowest level RBS4. Assumption analysis5. Diagramming Techniques - cause and effect diagram, system and process flow chart, influence diagrams6. SWOT Analysis7. Expert Judgment The risk identification method suggested in this article is to compliment the existing tools and techniques. The common Project Risk List Reference below which are divided into a number of risk categories are samples of potential risks of a project may be exposed to and should only be used by the Project Team as a reference and starting point for risk identification during the project risk management planning. Risk Category : Schedule1. Schedule not realistic, only "best case".2. Important task missing from the schedule.3. A delay in one task causes cascading delays in dependent tasks.4. Unfamiliar areas of the product take more time than expected to design and implement Risk Category : Requirement Risk1. Requirements have been base lined but continue to change.2. Requirements are poorly defined, and further definition expands the scope of the project3. Specified areas of the product are more time-consuming than expected.4. Requirements are only partly known at project start5. The total features requested may be beyond what the development team can deliver in the time available. Risk Category : Project Management Risk1. PM has little authority in the organization structure and little personal power to influence decision-making and resources2. Priorities change on existing program3. Project key success criteria not clearly defined to verify the successful completion of each project phase.4. Projects within the program often need the same resources at the same time5. Date is being totally driven by need to meet marketing demo, trade show, or other mandate; little consideration of project team estimates Risk Category : Product/Technology Risk1. Development of the wrong user interface results in redesign and implementation.2. Development of extra software functions that are not required (gold plating) extends the schedule.3. Requirements for interfacing with other systems are not under the team’s scope.4. Dependency on a technology that is still under development lengthens the schedule.5. Selected technology is a poor match to the problem or customer Risk Category : Customer Risk1. Customer insists on new requirements.2. Customer review/decision cycles for plans, prototypes, and specifications are slower than expected.3. Customer insists on technical decisions that lengthen the schedule.4. Customer will not accept the software as delivered even though it meets all specifications.5. Customer has expectations for development speed that developers cannot meet. Risk Category : Human Resources & Contractors Risk1. Critical development work is being performed by one developer2. Some developers may leave the project before it is finished.3. Hiring process takes longer than expected.4. Personnel need extra time to learn unfamiliar software tools, hardware and programming language.5. Contract personnel leave before project is complete.6. Conflicts among team members result in poor communication, poor designs, interface errors and extra rework.7. Personnel with critical skills needed for the project cannot be found.8. Contractor does not deliver components when promised. Conclusion Risk Identification in the project is critical in order to manage and complete the project successfully. The earlier the risk can be identified, the earlier the plan can be made to mitigate the effects of the potential risks. There are a lot of tools and techniques or method available to identify the project risks. The method suggested in this article will complement the existing risk identification method to get a more comprehensive risk list for Risk Management Planning. Identifying the risk is an iterative process, and the entire project team should be involved from the beginning of the project. Comprehensive and good risk identification will produce a good project results.

As mentioned above, Project Risk Identification and Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project. In Large Scale Organisation, one can have a separate group or department for Risk Management where every project need to go through/ conduct on itself Project security life cycle processes.

Hence it will be independent in nature where all risks for project can be identified, closed or exceptions ratified from senior management.

Similarly in small organisation we can have a Risk Consultant working with Project manager to analyse risks for a project.

Security Life Cycle Processes will also be conducted with every change after a project is complete and this should be tested with earlier identified and closed points/ checklists followed during the project life cycle. 

Dear Ms. Sameer,

The best person other than the PM who can help in identifying the risk is your execution team leader. In any construction projects, as we work on the specification, IFC drawing and tender document which was prepared based on several assumptions about the site conditions, which might have differed during the construction progress. This may demand a change in design which had been over viewed and pose a risk.

Once you prepare a WBS and follow it thoroughly it can act as a quick reckoner to any immediate risks. Also your procurement head can help in identifying the procurement related risks.

Having said this your own experience will give a better idea about risks.

 

I surmise that its not much critical issues if the PM is in contact with all the stakeholders and they discuss the project in appropriate manner.almost all stakeholders keenly study a project before investment.and the responsibility should goes to the PM.this is what he offer for services in return.

Project management involves a full SCM ,so the teamembets,the contractors, the vendors,the beneficiaries ,the management ,the statutory bodies. What I feel a risk assessment is very important to the art away the issues and bottlenecks. So if one involve every one in the loop and do a proper risk assessment then no projects can fail

Risk can be identified and highlighted during project review meeting and day to day internal meeting with team memebers (Project and Business).