evaluate a project
evaluating a project, how does it work?
After a project is closed, time should be taken to evaluate the project and the risk management activities. Evaluations are necessary to improve future projects; what would you do differently in the next project?
Project evaluation can be done by asking customers, suppliers and team members how they assess risk management. A questionnaire is a possibility. This could aid in making comparisons across projects. A group discussion with a number of stakeholders is another possibility. Analyzing project information is a third option. A number of criteria that could be useful to evaluate the quality of the risk management efforts are given below:
- Number of undiscovered risks: how many risks occurred that were not known to the project team prior to their occurrence?
- Understanding causes: were causes of risks known and could risks that occurred be traced back to those causes?
- Understanding effects: were effects of risks known? Did the effects that occurred correspond to the expected effects?
- Quantitative assessment: are chances of occurrence in line with the predictions? If not, how do they differ?
A project may also be compared to other projects. Are project results better or worse in comparison? This is a valuable exercise, especially if risk management is used for the first time and proper information is available about other projects.
other questions about project risk management
- What is a project risk?
- How can I detect risks?
- What is the essence of risk management?
- How can I analyze risks?
- How can I prioritize risks?
- What is a risk status?
- What is a risk class?
- Risk identification methods
- monitoring a project
- the role of team members
- What role do projectpartners have in managing project risks?
- How can I setup risk management in my company?