PM Earth

Risks with Project Management Software

11 July 2007

Project Management Software

Risks: A risk is a possible future event that could have an adverse impact on the initiation, planning, or execution of the PMO. A major risk may prevent the PMO launch or significantly interfere with PMO operations. The PMO Manager can identify risks by reviewing the business plan and the initial interviews used in creating the business plan. It is also valuable to ask key stakeholders to identify significant risks.

A minor risk might delay a service or increase costs. In creating the charter, it is sufficient to prepare an initial list of the most important risks. Full risk management will continue later in the planning and execution phases.

Obtain Sponsor Approval

Once the draft PMO Charter is written, it is reviewed by the PMO sponsor. When he is satisfied with it, he signs it off, officially launching the PMO. Now that the PMO exists on paper, it needs funding, a steering committee, a staff, and physical premises.


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