{"id":11106,"date":"2017-11-14T04:46:19","date_gmt":"2017-11-14T04:46:19","guid":{"rendered":"https:\/\/www.proprofs.com\/c\/?p=11106"},"modified":"2025-03-05T12:12:20","modified_gmt":"2025-03-05T12:12:20","slug":"project-risk-assessment","status":"publish","type":"post","link":"https:\/\/www.proprofsproject.com\/blog\/project-risk-assessment\/","title":{"rendered":"Project Risk Assessment: All You Need to Know About"},"content":{"rendered":"\n

If I were to give one project risk assessment example that ultimately led to project failure, it would be the launch of Samsung Galaxy Note 7.<\/span><\/p>\n\n\n\n

Do you remember that launch?<\/strong><\/p>\n\n\n\n

The Samsung Galaxy Note 7 was launched on Aug. 2, 2016. It was said to be \u201cthe best smartphone the world will see\u201d for that year. But, in just twenty it went from \u201cthe best\u201d to \u201c<\/span>the most deadly<\/span><\/a>\u201d smartphone that year!<\/span><\/p>\n\n\n\n

The phone had a battery issue that led many products to burst when people used the phones. It was a disaster!<\/span><\/p>\n\n\n\n

This ordeal lasted for forty-seven days, after which Samsung completely stopped the production of the Note 7. The loss for this project was estimated to be $17 billion. <\/span>Ouch!<\/span><\/i><\/p>\n\n\n\n

This is precisely the kind of damage companies tend to face if they don\u2019t pay attention to project risks. They may seem petty or irrelevant, but in the long run – <\/span>they bite!<\/span><\/i><\/p>\n\n\n\n

Before we get into risk analysis in project management, we first must know what it is.<\/span><\/p>\n\n\n\n

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