{"id":1338,"date":"2021-07-13T07:14:21","date_gmt":"2021-07-13T07:14:21","guid":{"rendered":"https:\/\/centurion-pm.com\/how-to-analyze-project-risk\/"},"modified":"2023-01-27T19:47:49","modified_gmt":"2023-01-27T19:47:49","slug":"how-to-analyze-project-risk","status":"publish","type":"post","link":"https:\/\/centurion-pm.com\/how-to-analyze-project-risk\/","title":{"rendered":"How to Analyze Project Risk"},"content":{"rendered":"<div style=\"float:right; margin: 10px 0 10px 10px;\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/centurion-pm.com\/wp-content\/uploads\/2023\/01\/how-to-analyze-project-risk.jpg\" alt=\"How to Analyze Project Risk\" width=\"668\" height=\"445\" class=\"alignright size-full wp-image-1318\" srcset=\"https:\/\/centurion-pm.com\/wp-content\/uploads\/2023\/01\/how-to-analyze-project-risk.jpg 668w, https:\/\/centurion-pm.com\/wp-content\/uploads\/2023\/01\/how-to-analyze-project-risk-300x200.jpg 300w\" sizes=\"(max-width: 668px) 100vw, 668px\" \/><\/div>\n<p>Any project would do well with professional risk analysis. It\u2019s the process of figuring out how likely risk will occur in a specific project. It helps project managers and employees identify potential risks and how they would impact project results in terms of schedule, costs, and quality.<\/p>\n<p>Besides that, there are several reasons why a company would want to conduct a project risk analysis, such as:<\/p>\n<ul class=\"bullet\">\n<li>Avoid potential litigation<\/li>\n<li>Address regulatory issues<\/li>\n<li>Comply with new legislation<\/li>\n<li>Reduce exposure<\/li>\n<li>Minimize impact<\/li>\n<li>Gather important input for decision making during all stages of <a href=\"https:\/\/centurion-pm.com\/project-management-in-winterville-nc\" rel=\"noopener\" target=\"_blank\">Project Management in Winterville, NC<\/a><\/li>\n<\/ul>\n<p><b>Risk Analysis Process<\/b><br \/>\nThere are three main steps to risk analysis:<\/p>\n<ol>\n<li><b>Identifying potential risks.<\/b>Gather your team and brainstorm on possible risks and opportunities linked to your company\/organization. Some of the most common risks are:\n<ul class=\"bullet\">\n<li>Ill-defined project scopes<\/li>\n<li>Inaccurate cost forecasts<\/li>\n<li>Stakeholder conflict over proposed changes<\/li>\n<li><a href=\"https:\/\/www.thestreet.com\/personal-finance\/education\/what-is-a-stakeholder-14859681\" rel=\"nofollow noopener\" target=\"_blank\">Stakeholder<\/a> turnover<\/li>\n<\/ul>\n<\/li>\n<li><b>Identify risk probability.<\/b>Calculate the odds that a certain risk will occur in your organization. Rate each risk you\u2019ve listed with low, medium, and high probability.<\/li>\n<li><b>Identify risk impact.<\/b>How much will this risk affect your overall operations? One way your organization can stay <a href=\"https:\/\/centurion-pm.com\/project-management-consulting-services\" rel=\"noopener\" target=\"_blank\">Agile in North Carolina<\/a> is to build a solid impact analysis to identify which risk will have the biggest impact on your project\u2019s outcomes.<\/li>\n<\/ol>\n<p>Once all steps have been properly executed, you and your team can move on to planning risk management.<\/p>\n<p><b>Services and Assistance You Need<\/b><br \/>\nHere at <span class=\"comp\">Centurion Project Management<\/span>, we do our best to provide our clients with top-notch project and Product Management services to help them reach business and organizational goals more easily and effectively. To find out more about our services, please <a href=\"https:\/\/centurion-pm.com\/project-management-consulting-contact-us\" rel=\"noopener\" target=\"_blank\">contact us<\/a>, today!<\/p>\n<p><script type=\"application\/ld+json\"><br \/>\n{<br \/>\n\"@context\": \"http:\/\/schema.org\",<br \/>\n\"@type\": \"NewsArticle\",<br \/>\n\"mainEntityOfPage\": {<br \/>\n\"@type\": \"WebPage\",<br \/>\n\"@id\": \"https:\/\/centurion-pm.com\/how-to-analyze-project-risk\"<br \/>\n},<br \/>\n\"headline\": \"How to Analyze Project Risk\",<br \/>\n\"image\": [<br \/>\n\"https:\/\/centurion-pm.com\/wp-content\/uploads\/2023\/01\/how-to-analyze-project-risk.jpg\",<br \/>\n\"https:\/\/centurion-pm.com\/wp-content\/uploads\/2023\/01\/how-to-analyze-project-risk-300x200.jpg\",<br \/>\n\"https:\/\/centurion-pm.com\/wp-content\/uploads\/2023\/01\/how-to-analyze-project-risk-150x150.jpg\"<br \/>\n],<br \/>\n\"datePublished\": \"2021-07-13\",<br \/>\n\"dateModified\": \"2021-07-13\",<br \/>\n\"author\": {<br \/>\n\"@type\": \"Person\",<br \/>\n\"name\": \"Louise Savoie\"<br \/>\n},<br \/>\n\"publisher\": {<br \/>\n\"@type\": \"Organization\",<br \/>\n\"name\": \"Centurion Project Management\",<br \/>\n\"logo\": {<br \/>\n\"@type\": \"ImageObject\",<br \/>\n\"url\": \"https:\/\/centurion-pm.com\/wp-content\/themes\/centurionprojce142\/images\/main-logo.png\"<br \/>\n}<br \/>\n},<br \/>\n\"description\": \"Gather important input for decision making during all stages of Project Management in Winterville, NC\"<br \/>\n}<br \/>\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Any project would do well with professional risk analysis. It\u2019s the process of figuring out how likely risk will occur in a specific project. It helps project managers and employees identify potential risks and how they would impact project results in terms of schedule, costs, and quality. Besides that, there are several reasons why a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[29,26,37],"_links":{"self":[{"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/posts\/1338"}],"collection":[{"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/comments?post=1338"}],"version-history":[{"count":2,"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/posts\/1338\/revisions"}],"predecessor-version":[{"id":1376,"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/posts\/1338\/revisions\/1376"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/media\/1318"}],"wp:attachment":[{"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/media?parent=1338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/categories?post=1338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/centurion-pm.com\/wp-json\/wp\/v2\/tags?post=1338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}