Risk management is a critical part of project management. However, in the real world, it's simply not cost-effective to manage risks thoroughly over all aspects of the projects. Similarly, when configuring the project management processes, we have to determine which areas deserve more attention than others. The more risks in a given area, the more controls we need.

When initiating a project, I always thought it would be great if we had some kind of guidelines as to what areas we should focus on based on the characteristics of the project. Indeed if we look at a project management method such as PMBOK, RUP, or Prince2, we notice it's rather exhaustive, if not abstract, compared to our specific needs. The task of customizing the method according to our needs can be daunting. Hence the idea to look at how risks affect different project management areas based on characteristics. More generally, the characteristics typically translate into increased workload, higher occurrence of changes, and of course increased risks.

For example, a project with a large team might require more work in managing communications, schedule, costs, human resources, and execution, while a project with high technical complexity will require special attention to manage quality, schedule and costs.

The following table summarizes my first thoughts on the subject.

* Relatively to team's experience.

Low indicates that the area deserves some specific attention. High indicates that it requires great attention. Otherwise (no indication), the are doesn't deserve any special attention.