3.1 Differentiate Between Projects and BAU Flashcards
Are projects risk aware or averse ?
Aware
Is BAU is risk aware of averse ?
Averse
If BAU activities are generally low risk what about project ?
Projects carry more risk and may require extensive risk management
What are BAU activities in relation to risks ?
Generally low risk
Why would project require extensive risk management and how does this affect project in relation to risks ?
Because project are something new that have never been done before
Therefore they are open to new and unknown risks
Why is BAU generally aware of potential risks?
Because BAU work is a repetitive process where they are generally aware of potential risks.
Why do project carry a higher degree of uncertainty and complexity and how does this relate risk associated with projects ?
Because they are temporary endeavours
Risk associated with projects are more difficult to manage
What are types of risk associated with projects ?
Schedule or scope risks
What are the characteristics of risks associated with BAU ?
Predictable and manageable
Types of BAU risks ?
Compliance and operational risks
What are the differences between projects and BAU?
Risks
Timeframe
Teams
In relation to timeframe what do projects have ?
Projects have a specific start and end date and temporary
What is the aim of projects and within what ?
The aim to achieve particular objectives within a variable time frame
How long can a projects duration last and dependant on what ?
A project duration can last from a week to several years depending on the scope and complexity
What are BAU activities in relation to timescales ?
BAU activities are ongoing , continuous and do not have a fixed endpoint