Origin of Risk

Kanav Gupta
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Where do risk come from? 
Let's understand this risk comes from all. It comes from the people involved, the structure that is the management structure and the systems of the organization the technology and the tasks that you are planning to work. Risk are induced by the stakeholders it could be the employees the contractors, competitors, financial institutions, regulatory agencies the whole lot of works around Everybody induces risk in any project.
Clarifying the difference between a risk and problem because of intermixing the two:
Risk is a possibility of something that may occur in the future it has its origins as explained earlier in uncertainty and as on today you have to identify for the future so that you take some actions as on today.
Problem is a certainty it has already happened because it was not anticipated earlier and requires immediate action.

If risk is not identified and managed surely it will lead to a problem, factors influencing a typical project to risk, of course as I said the uncertainty it can be high uncertainty, low uncertainty it can be few unknowns or lots of unknowns as seen again it comes down to a 4 by 4 matrix when it is a low uncertainty and few unknowns that kind of a project requires a process definition that means the project processes and outcomes are certain all have to control is project processes and outcomes as long we has the uncertainty increases and lots of unknowns coming you are slowly moving towards understanding what has happened earlier or similar projects.
That means focus shifts to knowledge management, that needs to have knowledge base of similar projects to predict what can possibly go wrong with the project that you are going to handle today.

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