Risk Evaluation

The basic risk evaluation stages are:
1. Identify risks from all shareholders
1.1 Requirement
1.2 Knowledge gap (company and customer)
1.3 Infrastructure requirements
1.4 Recourse capabilities
1.5 Inexperienced managers and leaders in the specific knowledge domain
1.6 Language Problems
2. Evaluate its probability to appear
3. Estimate the consequences and implication on the project
4. Analyze them and propose a way to cope with the risks
5. Set a track and control plan to review periodically
There is no easy way to handle risks. Most managers think it a waste of time and money. Well, if there were no problems, then fine. Imagine that one tiny issue arises at nearly at the delivery phase and most of the project was delivered due to the transfer date requirements with fewer quality assurance tests - would you then think again on this issue?
Not many like to be the gatekeepers of the project especially when this task is bothering everybody. Surveys on this issue show that a large firm, that had several problems in projects, tends to do so even if it rarely shows effectiveness. But when it does, it pays off. Today, many customers require some risk management plan as part of the project management tasks.