Assigning Local and Global Risks
Project Risk Management Solutions
Global risks (seen in the Global Risk View) are created based on a generic risk template. These risks are applied to all tasks or resources. They include potential natural disasters, budgetary problems, and potential changes based on client requests.
Local risks are assigned to the specific tasks or resources. For example the task "Secure financing" has the risk "Delay with financing". The resource "Concrete subcontractor" has the risk "Low qualification of the subcontractor". This risk will cause a delay for the task(s) that this subcontractor is involved in.
For some tasks we know, based on our previous experience, that task duration will be within a certain time period. For example, the task "Framing Second Floor" can be completed between 10 and 17 day. Uncertainty is defined using a triangular distribution.