Which is the least risky phase of a project?

 

Which is the least risky phase of a project?

Is that Planning or Closing ? 

 

Thanks for the response !!

 

I would go with planning.

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Risk level is highest towards the start of the project because there are many unknowns and uncertainties, as the work completes the unknowns become knowns and tasks are completed, towards the closing phase there is almost zero or little risk.

 THanks for the response ...My answer too closing. But some mock exam says it is planning.  

closing sure, check pmbok guide

stakeholder influence, risk and uncertainty are highest at the beginning.

The cost of making changes is the highest in the closing phase, however, closing is less riskier compared to Planning!

As per my old post, you will have to trust PMP person like me. You would NEVER know the right answer PMP is looking for. Here is my perspective:


 


Business is all about money. Planning phase has least money involved because it’s all about making various baselines (scope, cost, time, risk, quality etc) and getting it approved. The worst case is the plan rejection, but this is iterative as you can re-plan your baselines as per PMBOK. Hence planning process should be least risky.


 


All other phases like initiation, execution, M&C, closing has huge impact on budgets. Many people might say its “Closing Phase”, but keep in mind during closing process all claim process comes in picture and it’s a huge gambling. Closing process also involves product acceptance, it’s again a very big risky task i.e. you are selling your product for which you have invested about 95% of project cost.

Planning phase has least money involved because it’s all about making various baselines (scope, cost, time, risk, quality etc) and getting it approved. The worst case is the plan rejection, but this is iterative as you can re-plan your baselines as per PMBOK. Hence planning process should be least risky.

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PMBOK never talk or recommend Planning and Closing are phases.


people are confusing , because many times question itself is framed on misconceptions.


PMBOK says all proccess groups throughout the project life cycles become active and interrelated.


Closing and Planning are part of project intregation mgt.


Where as PMBOK narrated Risk scenario would be more in start and lesser in the end of project time.


who are believing that Planning is only at the time start , doing mistakes.


As such planning process have no risk .


While Initiation  process have the highest risk


Execution process also have higher risk


Monitor and control process is as such risk control .


Closing process have no risk, it is exit gate process just like cosing of opened files of your system safely.

What if during closing the client refuses to accept your deliverables? In that case your entire work and money invested is on risk, isnt't is? Closing process should have very high risk.


Saket, PMP

Justification:


The RISK means deviating from the plan. For example, the schedule variance, cost variance, time variance, scope variance etc.


It is assumed (PMisms) that the selected processes for the project will be done properly and managed as per the PMBOK.  That mean the client requirements are collected properly and signed off properly for each milestones.  This is done through the process "control scope".  If any problem it will be highlighted during the project.  All the PMP aspirants to understand the PMisms (please refer Rita Book).


It is also assumed that the plans are regularly updated for any changes.  Hence the change to the plan at the closure stage is less and hence low risk.


I hope it helps.


Thanks,


Abdul Khadar,PMP


 


 


 


 


 

I would always see business with money involved. End of day, business is all about money at risk. For me, in reality the project has the higher risk with higher money at stake. I would always choose the more risky phase as project ends as I see money stake involved around the end is very high.


An incident – during Microsoft ME edition press release the system crashed. Whatever the reason was (simple or big), it has been the biggest disappointment and business loss with Microsoft. Microsoft-ME had the highest loss to Microsoft as an OS product.


I would not care which book and which author says what, as those authors are people like me i.e. involved in PMP education and learning. I would definitely refer PMBOK as I know it’s a research book from PMI where thousands of people have contributed. PMBOK does not mention anything about which is the risky phase, because they know you are asking a mother which of the child you love the most.


Such questions are debatable and hence what matters more is what is the situation given to evaluate risk. Straight question like this is purely ambiguous and senseless but at the same time it’s available from all mock providers because they know they have to keep PMP preparations common for all.


Saket, PMP
 

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