Risk Categorization

We can categorize the risk under external, internal, project management and technology. External is something where we don’t have any control. For example Government approval, vendor supply dates. Internal which we can have control over it. For example resource, funding, etc…Project management risks like bad planning, poor estimation, etc.. Technology risks like requirement is not clear, technology is changing. Further it can be decomposed to cost, schedule, scope, quality… using Risk Breakdown Structure (RBS). Categorization helps in understanding the areas affected which could be phases, work packages, activities or even roles and helpful in taking further action of risk response planning.

Risk Categorization technique is used under the process Perform Qualitative Risk Analysis.