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Inherent (or Business) Risk

Then this will create a higher inherent risk of poor communication, if you have a fragmented business (either geographical or functional), for example. It's culture and politics; it will tend to be unique to your organisation. Inherent Risk is the risk that exists in the environment around your portal project.

Project (Specific) Risk

The level of governance effectiveness and so on, for example the skills of the project team, most project risk is under your direct influence; however. The unfamiliarity to users of the technology you are deploying). There are certain risks common to any project (e.g; some Project Risk stems from the nature of what you are doing. Project Risk is the risk specific to your project.

Stage Risk

There is 'stage risk' which is the risk associated with the particular activity of any given phase of the project plan, finally.

The Risk Log and Risk Plan

You might use a formal workshop to first populate the log. To which anyone involved with the project is entitled to add, it makes sense to have a formal log of all risks, in order to stay in control of the risks to your portal project.

Assessing Risks

Whereby the probability of the risk being realised ('likelihood') and the size of the impact on the project objectives ('severity') can be measured, each risk (however derived) can be assessed using a simple methodology.

The importance of each risk can be measured as the product of likelihood and severity, from these scores. The simplest system (based on the PRINCE project management method) is to give a score of 1-3 for likelihood and severity (where 1 is low and 3 is high).

Followed by risks rated 6 and so on, any risk of importance 9 demands immediate attention, clearly.

Risk Counter-measures

Based on the extent to which the likelihood and severity of impact change over time, the importance of each risk should be regularly maintained.

Then risk mitigation actions will be the most appropriate, where it cannot be fully eliminated. Then this will be the counter-measure, where a risk can be eliminated. One should enter a counter-measure in the risk plan, for each risk.

Issues Log

Issues will generally fall into one of the following categories: It may well be convenient to use the Risk Log to also track any issues on the project. Whilst an Issue is something that has already happened, a Risk is something that is yet to happen.

(R) - Request for a change (in the scope of the project);

(O) - An item has been identified that is Off-Specification;

(Q) - A Question has been raised that needs to be resolved;

And (S) - A Statement of Concern has been raised by someone;

(I) - Other issues.

Just ascribe an importance score (of between 1 and 9), to score issues.

Managing Risks and Issues

Then it is important to regularly monitor and report on the counter-measures that have been deployed and whether or not they have been successful in reducing the overall risk profile of the project, once you have put a Plan in place.

Please check out my chapter on http://www.viney.com/DFV/intranet_portal_guide/during/managing_risks_issues.html"> Managing Risks and Issues in the (free to access) Intranet Portal Guide, for templates and examples of risks and issues pertinent to intranet portal deployment projects.

You will have substantially improved your chances of project success, manage and report regularly on risks and issues, if you act!