Risks¶
There are many different risks related to an engineering project. It can be helpful to consider all of them, which ones your team is responsible or liable for, and how to best mitigate the impact on the overall project scope.
Project Risk¶
Project risk is an uncertain event or condition that, if it occurs, affects at least one project objective.
| Example | Mitigation strategy |
| Run out of time | Use additional labor or overtime |
| Run out of time | Schedule tasks in parallel rather than serial efforts |
| Unavailable test facilities or resources | Talk to the facility early and reserve time on equipment |
| Team does not have required skills | Leverage the web, talk to course faculty/CE/PE Schedule tasks for learning required skills |
| Can't get materials in time (supply chain) | Look for alternate materials or explore alternate concepts |
| Cost overrun / approach too expensive | Look for alternate materials or explore alternate concepts |
| Potential Regulatory challenges | Look for alternate materials or explore alternate concepts |
| Scope creep / new features | Work with client/PE/CE to prioritize towards MVP (minimum viable product) |
| Market/Sales related | Consider exploring alternate concepts or re-scope with client/PE/CE |
See this page for additional details on Risks Associated with Project Plans
Product Risk¶
Failure in a physical item or through its use which could damage property or people.
Undesirable recommendation, action, or outcome of a process or software system which causes damage, injury or loss.
| Example | Mitigation strategy |
| Lever breaks during use | Conduct physical testing on prototype |
| Injury to user due to improper use | Explicit warning in manual and 'caution sticker' (legal mitigation) |
| Injury to user due to improper use | Add guarding or redesign housing (engineering mitigation) |
Technical Risk¶
Confidence whether a particular requirement is achievable given the constraints of existing technology or knowledge.
| Example | Mitigation strategy |
| Cannot meet response requirements in a real-time system | Identify alternative hardware or control methods |
| Designed component fails during use | FEA analysis under anticipated loading conditions |
Resources for more information¶
- Risk Worksheet Template available here - Templates and Forms
- Failure Modes and Effects Analysis
- Introduction to Engineering Design lecture on "Robust Design and Risk Management" - Useful books and references
- video from ENGR-1400 Engineering Communication - 10c-02: Risks (6 mins)