Reading and Organizing Risk Data

1a) Pareto charts are often called histograms and show most frequently occurring risks to projects in descending order. “Aggregating” these is totaling by category (such as all scope risks) and organizing data in a descending bar chart. Aggregate data refers to numerical or non-numerical information that is (1) collected from multiple sources about differing multiple risks, variables, or data and (2) compiled into data summaries or reports, typically for the purposes of statistical analysis—i.e., examining trends (see Kendrick, 2008 on project risk aggregated data from 600 projects into his PERIL database). How many weeks of “impact” did poor schedule estimates in 600 projects trigger?

Sample Solution