In my last ProjectBrief post, I talked about the importance of clearly identifying risks as events and making sure they aren’t simply stated as facts.  Here I’d like to briefly highlight the importance of including the consequence of those identified risks in the risk register.

Risk registers often include risks with little or no indication as to the consequence. Take a look at the register below, for example:

These next few weeks I will be sharing thoughts about Project Risk Management. 

In my training experience, I find that most people know what risk management is, but many people struggle with identifying risks.  Often, people create a list of risks that includes things like “The infrastructure is outdated,” or “We aren’t sure how much Sam will be available for the project.” 

These are certainly concerns that we should be thinking about, but are they risks? I would suggest that no, they aren’t.  The first one is simply a statement of fact; the second one is an uncertainty.  Risks may derive from circumstances or uncertainties like these, but the most effective way to articulate a risk is to express it as an event.  It’s something that could happen.