From the course: Project Management Foundations

Identify project assumptions and risks

From the course: Project Management Foundations

Identify project assumptions and risks

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- [Narrator] Another aspect of defining a project is to identify project assumptions and risks. Let's start with assumptions. During project initiation, there's a good chance you won't have all the information you really need. Don't worry. You can make assumptions about that info so you can move ahead with the project. Later when the project picture becomes clearer you can revisit your assumptions and modify them if necessary. For example, with the scheduling project you won't know how much system customization is needed until you choose the vendor, and that could affect how many in-house resources you'll need which could affect how long the project takes. You get the idea. You might assume that the system won't require much customization. From that, you estimate that you'll need three in-house IT resources and they'll need a month to finish their part of the project. Assumptions can be tricky when people don't realize they're assuming something. In that case, they assume something is true without confirming it. Different people can make different assumptions. If those assumptions aren't brought into the open someone will end up disappointed. For example, say that you assume that the system vendor is going to load data into the database, and the system vendor assumes your internal IT group will do that task. If that assumption isn't identified the system might miss an important deadline. The key is to get assumptions out in the open. That way you can make sure everyone is on the same page. Think about uncovering unspoken assumptions as you define and plan the project. Ask people what they expect and what they envision when they think about the project. Don't be shy about asking more than once. Now let's look at risks. A risk is a situation or event that might occur that could affect your project positively or negatively. What makes a risk a risk is that it's uncertain. Early on in a project, spend some time identifying risks that could affect the project mainly so the management team can make an educated decision about whether or not to invest in the project. If you identify numerous risks and several are quite worrisome management might decide it would be better to forego the project for another one. Assumptions and risks are manageable as long as you identify them upfront. For practice, try identifying a few assumptions and risks that could arise in the hospital scheduling project.

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