Risk management is central towards eliminating as many obstacles that can derail your project as possible. If you can’t eliminate them fully, then you’ll plan for them. One of the two concepts that trip most people up is the difference between risk versus issue. Knowing the difference between these two are huge!
The Project Management Body of Knowledge (PMBOK) defines risk as ‘an uncertain event or condition that, if it occurs, has a positive or negative effect on the or more project objectives.
PMBOK defines issue as ‘a current condition or situation that may have an impact on the project objectives.’
See there is a very big difference between the two. A risk hasn’t happened yet. An issue is something that has already happened. In risk management, you and your project team want to make sure that you properly identify risks before they become issues.
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