Unknown knowns are risks that are known to exist, but their potential impact is unknown. For example, a project manager might know that a particular supplier is unreliable, but not know how often they will fail to deliver on their promises.
Unknown knowns can be difficult to manage because there is no way to predict when or how they will occur. The best way to deal with unknown knowns is to have contingency plans in place so that the impact of these risks can be minimized.
What is unknown known risk? Unknown known risks are risks that are not yet known, but which could become known in the future. These risks may be difficult to identify and quantify, but they can have a significant impact on a project. Unknown known risks can include things like new technology, changes in the market, or unforeseen political or economic events.
How can you identify unknown unknowns?
There is no definitive answer to this question, as it depends on the specific project and situation. However, there are a few general tips that can be useful in identifying unknown unknowns:
1. Pay attention to gaps in your knowledge. If there are areas of the project that you are unsure about or that you don't have complete information on, it's likely that there are unknown unknowns lurking there.
2. Be aware of changes or new developments that could impact the project. Unknown unknowns are often the result of changes in the environment or new information that comes to light.
3. Be prepared to ask questions. If you're not sure about something, don't be afraid to ask questions. This can help to uncover unknown unknowns.
4. Be flexible and open-minded. Be willing to consider new information and new perspectives. This can help you to identify unknown unknowns that you may have otherwise overlooked.
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What is a known known in project management?
In project management, a known known is a factor that is known to have an impact on the project, and which has been taken into account in the project planning.
A known known can be either a positive or a negative factor; for example, a known positive known might be that the project team has experience with the relevant technology, while a known negative known might be that the project is reliant on a single supplier.
Project managers need to be aware of all known knowns that could affect the project, so that they can plan for them and mitigate any risks.
What is a known unknown in project management?
A known unknown in project management is a risk or potential issue that is known to the project team, but the extent or severity of the risk is not yet known. This type of risk can be difficult to manage because it is not possible to plan for or mitigate against an unknown risk.
There are a few strategies that can be used to manage known unknowns:
- Make a list of all known unknowns and track them over time. This will help the project team to identify trends and patterns.
- Make a contingency plan for each known unknown. This plan should be designed to minimize the impact of the risk if it materializes.
- Communicate regularly with stakeholders about known unknowns. This will help to ensure that everyone is aware of the risks and can provide input into the management of them.