Question

Research problem in performance appraisal

Answer 1

Identification of Risk Factors
Risk factors are the issues, topics, or concerns that may ultimately drive the behavior of the top-level schedule and cost performance measures for a given activity. The aim of the RFA is to systematically search the selected project activities for the presence of such risk factors. To aid in the identification of relevant risks, the risk project spectrum first is divided into four broad categories of risk generally found to be relevant to all LANL projects.

1. Technical Risk. Technical risks are those events or issues associated with the scope definition, research and development (R&D), design, construction, and operation that could affect the actual level of performance vs. that specified in the project mission need and performance requirements documents. Examples of technical risks include new and changing technology and changing regulatory requirements.

2. Schedule Risk. Schedule risk is the risk associated with the adequacy of the time allotted for the planning, R&D, facility design, construction, and startup operations. Two major elements of schedule risk are (1) the reasonableness and completeness of the schedule estimates for the planned activities and (2) the risk that schedule objectives will not be met because of a failure to manage technical.