I think it is just sloppiness and a lack of understanding what RISK is. If you want to consider an ‘issue’ to be something small then you probably have not identified it yet. If you have identified it through the risk identification process, you have determined that the probability times the potential is so low, you can accept it. Therefore, it is a risk that has been accepted because it will not affect the project.

If you have not identified it and it happens and it will not affect the project, calling it an issue is okay. If it happens and does affect the project, it should be placed on the risk register as an ‘unknown’ risk for future projects.

So, the easiest thing to do in project management is to only have risks. If some things are risks and some things are issues, then they will not be tracked, identified, prepared for and or corrected properly.

C Franzoso, MBA, PMP

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?

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!