Project Hazards

Problems brought on by outside sources can negatively impact a project or even jeopardize its feasibility. Before deciding to undertake a project, the sponsor may assess these potential problems or require that the project manager do so as a part of the statement of work. Either way, a project should not get underway without some assessment of potential problems stemming from events in the external world, in either the environment of project development or the application of project outcome.

Another type of problem to be considered beforehand is that the project will not be well planned and executed. This, however, can be mitigated by IPM procedures, especially internal risk analysis.