Categorizing project risks.

• External risks:
  • Economic recession
  • Change in donor priorities
  • Natural disaster
• Technical risks:
  • Failure of online fundraising platform
  • Data breach
  • Technical problems with event management software

By risk impact:

• Cost impact:
  • Unexpected expenses, such as a venue rental increase or a change in printing costs
  • Loss of donations due to a negative public relations incident
• Schedule impact:
  • Delays in obtaining permits or approvals
  • Bad weather on the day of an event
• Quality impact:
  • Failure to meet donor expectations
  • Poor attendance at an event

By risk probability:

• High probability:
  • Technical problems with the online fundraising platform
  • Volunteer burnout
• Medium probability:
  • Loss of donations due to a negative public relations incident
  • Change in donor priorities
• Low probability:
  • Economic recession
  • Natural disaster

Questions a project manager could ask when reviewing the project charter and WBS to help identify risks:

• What are the key goals and objectives of the project?
• What are the project's deliverables?
• What are the project's dependencies?
• What are the project's constraints?
• What are the project's stakeholders?
• What are the project's assumptions?

By asking these questions, the project manager can start to identify potential risks that could impact the project's success.

Three common quantitative risk analysis techniques:

• Monte Carlo simulation: This technique uses random sampling to generate thousands of possible outcomes for the project. This allows the project manager to estimate the probability of different outcomes, including the probability of the project meeting its goals and objectives.

• Decision tree analysis: This technique uses a tree-like diagram to map out all of the possible outcomes of a decision and the likelihood of each outcome. This allows the project manager to identify the best course of action based on the desired outcome and the likelihood of each outcome.

• Sensitivity analysis: This technique is used to identify which variables have the biggest impact on the project's outcome. This allows the project manager to focus on managing the most important risks.

Under what circumstances would you find each one useful:

• Monte Carlo simulation: This technique is useful when there is a lot of uncertainty about the project's variables. It can also be used to estimate the probability of different outcomes, such as the probability of the project meeting its goals and objectives.

• Decision tree analysis: This technique is useful when there is a need to make a complex decision. It can help to identify the best course of action based on the desired outcome and the likelihood of each outcome.

• Sensitivity analysis: This technique is useful when there is a need to identify which variables have the biggest impact on the project's outcome. This allows the project manager to focus on managing the most important risks.

It is important to note that there is no one-size-fits-all approach to quantitative risk analysis. The best technique to use will depend on the specific project and the needs of the project manager.

There are many different ways to categorize project risks, but three common methods are:

• By risk source: This method categorizes risks based on where they come from, such as internal risks (e.g., team member turnover), external risks (e.g., economic recession), and technical risks (e.g., software failure).

• By risk impact: This method categorizes risks based on the potential impact they could have on the project, such as cost impact, schedule impact, and quality impact.

• By risk probability: This method categorizes risks based on how likely they are to occur.

Here are some examples of fundraising project risks using each categorizing method:

By risk source:

• Internal risks:
  • Key team member turnover
  • Volunteer burnout
  • Lack of internal communication