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7 Common Sources of Risk Cause Many Projects to Crash

Risks can certainly be specific to different situations, but there are seven common sources of risk, according to an article by Vin D’Amico on BrainsLink, that are to blame for many project failures.  These risks occur in different areas in different ways, so it is important to able to recognize danger before your organization falls into an old trap.  The sources are as follows:

·         Unknown Stakeholders

·         Fuzzy Project Scope

·         Gold Plated Requirements

·         Inappropriate Staffing

·         Infrequent Deliverables

·         Inadequate Controls on External Providers

·         Disastrous Events

The truth of the matter is that many risks are often ignored and put off because they are so common.  The mindset there is that, since these risks seem to happen all the time, there must be a system in place to deal with them.  The best method, however, of dealing with these risks is to recognize from D’Amico’s list exactly what they are and attacking them head on.  Granted, tackling all seven of these risks at one time may prove difficult, but focusing on a few at a time will surely lead to fewer project failures in the long run.

About Anne Grybowski

Anne is a former staff writer for CAI's Accelerating IT Success, with a degree in Media Studies from Penn State University.

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