What are Risks and Issues?.. in 60 seconds

The video tutorial explains the difference between risks and issues in project management. A risk is an uncertain event that may affect the outcome, with a probability of occurrence and potential consequences. In contrast, an issue is a certain event that will impact the project and must be addressed immediately. The tutorial emphasizes the need to evaluate risks by considering their probability and impact, while issues require immediate action.

What is a key characteristic of a risk?

• It is always positive.

• It has no consequences.

• It has a probability of occurring.

• It is certain to happen.

How does an issue differ from a risk?

• An issue is uncertain.

• An issue can be ignored.

• An issue has a probability of occurring.

• An issue is certain to impact the project.

Why must issues be addressed immediately?

• They might not happen.

• They have already occurred or will definitely occur.

• They are optional to address.

• They have no impact.

What should be considered when deciding how to handle a risk?

• The certainty of the risk.

• The cost of ignoring the risk.

• The number of people affected by the risk.

• The probability and impact of the risk.

What is the main action required when dealing with an issue?

• Ignore it until it becomes a risk.

• Evaluate its probability.

• Consider its potential impact.

• Address it immediately.