Delivering Projects On Time

OVERVIEW: Meaningful risk analysis can dramatically improve the likelihood of project managers delivering major system development projects on time. At issue are the questions, “Which risk events are most likely to occur?” and “Which risk events will have the most severe impact on the project schedule?” A study of 22 major aerospace system development programs produced a prompt list to support project managers engaged in risk identification. The study also yielded a risk map based upon an empirical study of the reasons for adverse schedule variances on the 22 programs over a ten-year period. The lack of required parts and materials when needed, a lack of requisite information, design changes, and difficulty starting, are among the risk events that most warrant managerial attention and appropriate risk mitigation and control.