Risk Prioritization
Once you've created the list of schedule risks, the next step is to prioritize the risks so that you know where to focus your risk-management efforts. Projects typically spend 80 percent of their money fixing 20 percent of their problems, so it's useful to be able to focus on the most important 20 percent (Boehm 1989).
While it is futile to try to eliminate risk, and questionable to try to minimize it, it is essential that the risks taken be the right risks. | ||
| --Peter Drucker | ||
Once again, the job is easier if you're focusing solely on schedule risks than if you're concerned with all kinds of risks. After you've computed the risk exposure by multiplying the probability of the loss by the size of the loss, sort the risks in your ...
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