By DaveLevy on Jan 14, 2005
I was preparing a project proposal before christmas and we were trying to define what a risk was (Again!). Some mediocre (if the cap fits......) project managers think to improve their credibility by saying risk every other word. I offer you (& them) the following, although its not original,
"A risk is an event that is futuristic, uncertain and detrimental.
Its a new FUD!
One important corollory (for which I thank Andy Murray recently of WPM) is that effort estimation variance is not a risk, since its not uncertain. - You will be wrong!