Definition Of Risk And Issue

In addition the paper discusses the confusion around the term risk and addresses how risk differs from an issue it then details the issue management process.

Definition of risk and issue. An issue is an event or condition that has already happened and has impacted or is currently impacting the project objectives. I think it is just sloppiness and a lack of understanding what risk is. All defined governance arrangements for risk and issue management are implemented. Issue debate some project managers and risk managers are not convinced that the differentiation between risk and issue adds any value.

It defines a risk as an event that has not happened yet and an issue as something that already has happened. We do not have issue action plans we have risk action plans. Risk vs issue a risk is something that hasn t happened yet but has some probability of occurring. No this is not correct.

Even though the risk has occurred i e. Risk and issue register are set to record risks and issues are recorded. It is now an issue in terms of the differentiation there is still uncertainty regarding the impact and the objectives that will be impacted. Poor risk or issue management can lead to project failure.

There is no uncertainty or probability aspect associated with an issue. This article features a program manager at ibm bangalore india and a project management consultant ceo of refinem springfield mo debating whether project managers should treat risks and issues differently. The difference between a risk and an issue. In other words risks are potential future problems and issues are current problems.

If a risk occurs we execute the risk action plan. Most people think that an issue is a risk that has happened. So my take is a risk is a risk if it happens or not. Since a risk once it has occurred becomes an issue the definition and management of issues is also addressed to bring it in line with the new definition of risk.