Determine the criteria that must be considered to perform the project sizing. Create one additional factor with a rationale.

Please respond to the following:

  • One of the most important aspects of managing risk for a project is to accurately define the size of the project. Determine the criteria that must be considered to perform the project sizing. Create one additional factor with a rationale.

Be sure to respond to at least one of your classmates’ posts.     

The  size of a project is a mixture of subjective and objective criteria. The  subjective aspects of determining project size may relate to the size  of the organization and its experience with projects.  A project may be  small for a large organization that performs a great many projects, but  the same project may be large for a smaller organization that does not  do many projects. A good example of that might be the development of  parts storage system. A large company with many divisions that each has  its own parts storage system may find it relatively easy and simple to  develop a new system for a new branch. A new company that is just  developing its first parts storage system may find such a project  expensive with many elements of uncertainty.

There are many aspects of a project that are relatively objective.   Such criteria include the strategic importance of the project to the  organization, its commercial complexity, restrictions imposed by or  dependence on external factors, the stability of the requirements, the  technical complexity, regulatory considerations, its financial value,  duration, resources, and post-project liabilities (Hillson, 1). Scoring  these criteria leads to a relatively objective assessment of the size of  the project.

Another criterion that may be added is the need to acquire new  talent. If the organization already has all of the talent required to  complete the project, the project is that much simpler. If the project  requires talent that the organization does not already have, it has to  hire new staff, hire outside organizations, or train its current staff,  all of which make the project that much more complex.

  1. David Hillson. 2012. Practical Project Risk Management: The ATOM Methodology, Second edition. Berrett-Koehler Publishers.

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