In my view the most appropriate differentiation is:

An event (current or future) when realized, will impact the Project (objectives/ estimates etc), is a RISK.

An event (only current) if is not addressed, will impact the Project, is an ISSUE. i.e. if an Issue does not get addressed timely and appropriately, may turn into a Risk.

What would you then call a Risk that has been realized?

I understand Risk Management as the process of managing the risk (i.e. through mitigation, prevention, acceptance) to prevent it from becoming an issue, while Issue Management is the process of managing the issue (a risk that has been realized).

I don’t have time for small hiccups – don’t sweat the small stuff.

Thanks.

S.

Again, there is Risk Management and Issue Management for a reason, the difference between an issue and a risk is not restricted to the timing, in other words, issues are not risks that have already happened. An issue is a small hiccup that already occurred in the project, and is handled by the Issue Management Process.

Going back to the example of the client not honoring the payment, this is a risk that is managed by the Risk Management Plan. If you’re saying is correct then there would be no such thing as Risk Management, it’d be only Issue Management.

Think about it…

And if issues are “current events that have little effect on the project and solving them is usually easy”, what do we call current events that have severe effects on the project and solving them requires ingenuity?

really appreciate your reply, yes i agree that it would be a really steep ascend to pass the exam as I am going through Kim Heldman’s book, and i found there are 90 % terms are unique and unknown to me.

But ther are things which are common on the macro level with my MBA syllabus, that is – Initiating, Planning , Executing, Monitoring/controlling and closing.

i have to be honest what i beleive, that it would be more of a memory test rather than the test of experience as i will have to mug up a couple of books.

Lets try

thanks

Azeem

Some of your activities may quality as project management experience. For example, making budgets (cost management), feasibility study, portfolio management.

I still do think though that you need to study a lot in order to be able to pass the PMP, as there are some basic Project Management concepts that might be unknown to you. It is up to you to decide whether to apply or not, there is no harm of stating your experience and see what PMI decides (whether you’re eligible or not).

Issues are not risks, that’s why you have Issue Management and Risk Management, they’re totally separate things. What you’re stating is that the only difference between issues and risks is the timing, which is not enough.

Feel free to provide an example of an issue that has a similar impact to a risk, and we’ll debate it!

thanks for the comment, may be my designation seems ordinary on the first instance, but i head the sales of a zone which is a whole country. (Precisely – Regional Sales Manager)

Apart from Sales, my responsibility also involves,
Market research as well as feasibility study
Demand forcasting as well as making budgets.
Portfolio management as well as its enhancement.

please let me know if i can go for some other reputed certification related to my experience.

thanks

Azeem

I’m afraid you’re not. You need to have a documented project management experience for the PMP, your experience is restricted to sales.