All language subtitles for KU PMGT 823 Session 3 (Part C)-Identifying Schedule Risks - Copy

Hello everyone and welcome to Part C of
our third session in Project Risk

Management. In this part, we will
explore schedule -related risks, what

them, how to identify them early, and
why they can significantly impact your

project timeline and so forth.

Let's dive in and see what makes
schedule risk one of the most critical

challenges in project planning.

Schedule risk are often underestimated,
but as we will see, even small timing

issues can have major consequences for
project success.

According to the PERIL database,
schedule risk represents slightly less

% of all recorded risks.

On average, these risks delay projects
by more than six weeks, a delay

comparable to that caused by resource
risks.

Even more importantly, schedule -related
risks account for about one quarter of

all total project impact in the
database.

Schedule risks can be grouped into three
main categories, delay, estimate, and

dependency. Let's review each of them.

Delay -related risks are the most common
one.

These involve a slippage caused by
factors that are within the project

control. Second, estimate -related risks
tend to have the highest average

impact. These risks arise when not
enough time is allocated for activities,

often due to poor or optimistic
estimating.

And finally, dependency -related risks
stem from external causes outside of the

project's direct control, such as delays
from third parties, infrastructure

readiness, or legal approvals.

Now let's explore 10 common reasons for
scheduled risks that can impact project

timelines.

First, we have incorrect estimation of
new work. Often due to the learning

curve, teams assume tasks are easier
than they are, leading to

and major scheduling impact.

Second, legal dependencies, changes in
regulations or standards can introduce

long unforeseen delays, especially when
approvals or compliance are involved.

Third, project interdependencies. Delays
in one project can ripple into others,

particularly when multiple initiatives
are connected or share resources.

Fourth, unrealistic deadlines.

When deadlines are imposed from the top
without detailed scheduling analysis,

they tend to lead to inevitable delays.

Five, lack of sufficient information.

Without the right data or input,
planning becomes guesswork.

And that uncertainty almost always leads
to schedule problems.

Number six is poor estimation or
inadequate analysis.

This often comes down to human judgment
errors.

If tasks are misjudged in terms of
duration, it directly disrupts the

Number seven is unready infrastructure.

When essential systems like IT support,
logistics, or printing services aren't

in place on time, everything gets
delayed.

Number eight is waiting for required
components.

It is a very common risk.

Missing materials or parts can halt
progress until they arrive, especially

manufacturing or construction projects.

Number nine is delayed decision making,
whether it is slow approvals or internal

indecision. Every delay in making heat
choices can cascade across the schedule.

And finally, number 10 is late or faulty
equipment.

When tools or hardware arrive late or
don't work as intended, your timeline

takes an immediate heat.

This bar chart illustrates the impact of
various schedule -related risks on

project timelines.

As you can see, the two biggest
contributors to delays are estimates and

in parts.

In other words, underestimating how much
effort new work requires or waiting for

essential components are the top items
in a schedule overrun.

Next, we have risks like missing
information and project dependencies.

These also cause significant delays,
especially when teams don't have access

complete data or when they rely heavily
on other projects or teams to proceed.

Let's walk through this example.

David was managing an IT project to set
up a secure internal network for three

of his branches.

At first, he thought configuring the
switches and firewalls would be quick

easy, but the team ran into unexpected
technical issues that took much longer

than planned.

This delay happened because the work was
more complex than they had assumed

first. Later, they had to stop progress
because the shipment of important

routers was stuck in customs.

While waiting for the parts, another
problem came up when an internal

for a data sharing agreement took too
long to finalize.

These delays weren't part of the
original plan, but they had a real

the schedule.

David quickly realized that even small
misjudgments can turn into big timeline

problems when multiple risks show up at
once.

As mentioned before, Blackstone risks
are rare but extremely damaging events

that can seriously impact the project
schedule.

In the PERIL database, they refer to the
worst 20 % of all recorded risks.

These events usually cause delays of
three months or more and are difficult

predict or control.

Out of 206 major risks studied, 46 were
related to schedule issues and made up

half of the total delay impact.

As you can see in the table, risks like
Poor estimates and missing parts are

among the top contributors to this
schedule -related black swath.

When reviewing your schedule, look
closely at estimates that feel vague or

uncertain. Be cautious with any time
estimates that aren't backed by real

Watch for dependencies, especially where
tasks come together, as they often hide

risks. Try to tackle high -risk tasks
early in the project. Keep an eye on

critical parts because having too many
of them can create pressure points.

Also remember that longer projects
usually come with more uncertainty and

issues.

And that wraps up Part 3 of our session
on identifying project scheduling.

We have explored where schedule risks
come from, what forms they can take, and

how to recognize them early. Now please
continue on to Part D.