Change vs Risk Project Management
Change versus Risk: The quick and straightforward definitions for “Change” and “Risk” are as follows: changes are usually unexpected, and almost always unwelcome, though they need not be. More on that later. “Risks,” on the other hand, are usually identified, qualified, quantified and planned for, to some extent, within the “planned risk response” process. However, there still could be some unforeseen aspects (i.e. changes) in identified risks. Our qualification and quantification of the probability of a risk occurring, as well as their impacts, are, as we all know, estimates and not an exact science. We truly do not know how bad or good a risk will be until it appears and we address it. On the other hand, “changes,” when they occur, almost always automatically come with risks. These can…
