43 Risk Categories: Complete List + Explanations of Risk Categories

A list of risk classifications is a powerful and simple method of risk identification.
It is even more valuable if there are no robust risk management processes.
A risk category is a way to group project risks and highlight potential threats. To identify common risks in a project, a project manager uses risk classifications. Usually, risk categories are represented by a Risk Breakdown structure.
I believe that risk categories are the most important part any lessons learned.
This list should also be shared with all projects within an organization.
But there’s a catch.
This is something that not many organizations realize.
This is why I will share with you a list of potential risks in this article.
It can be used as a starting point.
Risk management was one of my most difficult areas as a junior PM.
I read many books and posts about the topic.
Only one person was able to resolve the situation. It was Rita Mulcahy’s book.
It did not clarify the timing of risk management.
However, I was able to understand the practical application of these concepts after I created a list of possible risk categories.
It was eye-opening.
Keep this in mind:
Your plan is as important as your risk management efforts. Here’s my Risk Management Plan Template.
Risk Management Plan Template
(For Software Projects).
Software project managers are often unaware of the contents of a Risk Management Plan. They simply don’t know how to write it. This can lead to many problems. Get my template and use it for a starting point. You also have access to all my risk management resources. This template will take the guesswork out of your project. You can easily make minor adjustments and present your risk management plan to the stakeholders and team.
Get the TemplateProject Risk Management Overview
This video will help you if you’re not a great risk manager.
It will give an overview of the Risk Management Framework as well as the role of Risk Categories within it.
Project Management Risk Category
A significant risk is the lack of project management.
It may seem absurd and unimportant. You, as a project manager are also a source for risks.
There are many subcategories:
1. You may not be able to effectively manage your project. There may be many reasons. You may be working on multiple projects at once and not having enough time to manage each one.
2. Stakeholders lack knowledge This is something I stress constantly. Don’t assume that all stakeholders are proficient in managing a project.
They pay you to be the expert, aren’t they?
Stakeholders who don’t know much about project management can cause problems.
They may not be supportive of the approach you choose. They might not be familiar with the processes you use.
Stakeholders can also cause delays and havoc in your plans.
What more?
3. Project management approaches that are subject to imposed requirements. Stakeholders and project managers are less familiar with one approach to project management.
This is a problem.
They will insist on the method they are familiar with. It is not the best approach for the project.
4 Project schedule. Project schedules are by nature to include risks from other knowledge areas.
A poorly defined scope can pose risks to the project’s timeline.
There are risks associated with the scheduling method you choose. I have written before about project schedule concepts. Failure to follow these guidelines could put your project at risk.
A too strict schedule is the most common risk factor.
5. Quality. Quality management plans should outline how to ensure quality in a product or service.
Some products can be very complex. Some products may have very high quality standards.
In fact, inefficient quality assurance is always possible.
Another risk category is the support of stakeholders.
6. Executive Support. Executive Support.

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