Taking task of risks Many project managers perform a risk evaluation of their project in accordance with the best practices of the PMBOK. They dutifully record the potential risks to the success of the project: what might cause the project to miss its deadline, what might cause the project to overrun its budget, and what might stand in the way of the project achieving its stated goals. This is good, but may not be enough.
Over and above the success of the project there is a risk to the organization in running the project. The first risk to evaluate is what is the risk to the organization of not delivering the product resulting from the project? Knowing the overall risk to the organization provides an additional motivation to the whole project. On the other hand, if the risk is minimal or non-existent, you may be leading a project that has a low priority and will thereby be at risk itself.
What is the risk of successfully executing the project? This is a way of evaluating the impacts a successful implementation will have on other areas of the organization. The project may be successful but cause an unforeseen organizational impact. Again, knowing that impact up front might result in a different approach to the execution of the project.
By simply evaluating the overall risks of the project to the organization helps you understand where the project fits in the scheme of things which gives you information about the importance of the project and its priority and dependencies.
Once you and your team has that understanding, the evaluation of risk to the project itself flows easier.  ¶ 10:20 AM