Divide and conquer
Ineffective project risk management may result by not distinguishing between risk priority and risk urgency. This article features two project professionals discussing how to distinguish priority risks from urgent risks. It begins by defining priority and urgency and explains how both risk priority and urgency are qualitative dimensions of project risks. It then details how project managers should treat priorities and urgencies, noting that they should be differentiated into four categories. The article also looks at the probability/impact matrix to assess priorities. In addition, it explores whether a risk can be both a priority and an urgency. It concludes by examining the danger when failing to distinguish between urgencies and priorities.