From the course: Project Management Foundations

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Identify project assumptions and risks

Identify project assumptions and risks

From the course: Project Management Foundations

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Identify project assumptions and risks

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- [Narrator] Another aspect of defining a project is to identify project assumptions and risks. Let's start with assumptions. During project initiation, there's a good chance you won't have all the information you really need. Don't worry. You can make assumptions about that info so you can move ahead with the project. Later when the project picture becomes clearer you can revisit your assumptions and modify them if necessary. For example, with the scheduling project you won't know how much system customization is needed until you choose the vendor, and that could affect how many in-house resources you'll need which could affect how long the project takes. You get the idea. You might assume that the system won't require much customization. From that, you estimate that you'll need three in-house IT resources and they'll need a month to finish their part of the project. Assumptions can be tricky when people don't realize they're assuming something. In that case, they assume something is…

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