Do you need customer support or technical assistance? Click here to submit a support ticket...

TOPIC: Variability risk Vs Ambiguity risk

Variability risk Vs Ambiguity risk 10 months 6 days ago #16177

  • Ximena Laveglia
  • Ximena Laveglia's Avatar Topic Author
  • Offline
  • Fresh Boarder
  • Fresh Boarder
  • Posts: 4
  • Thank you received: 0
Hi,

I 'm having a hard time understanding the difference between variability risk and ambiguity risk. Can you please explain these two concepts with examples if possible?


Thank you!!

Ximena.

Variability risk Vs Ambiguity risk 10 months 1 day ago #16235

  • Joe Pang
  • Joe Pang's Avatar
  • Offline
  • Moderator
  • Moderator
  • Posts: 194
  • Karma: 12
  • Thank you received: 58
Hi Ximena,

I strongly suggest reading this PMI article about risks, it does a good job explaining various types of risks:
LINK

In essence:
Variability risk: There is a set number of possible outcomes but we don’t know which one will actually occur.
(ex. The number of errors found during testing may be higher or lower than expected)

Ambiguity risk: Come from uncertainties arising from lack of knowledge or understanding.
(ex. New disruptive technologies or market conditions)
Toronto-based project manager, currently engaging in paperless transformation projects for utilities companies

I welcome all types of collaboration opportunities, feel free to connect with me on Linkedin

Variability risk Vs Ambiguity risk 7 months 5 hours ago #17062

  • Arjita
  • Arjita's Avatar
  • Visitor
  • Visitor
Yes this is very helpful Joe Pang.

In my understanding also, simple way to remember is:

Variability means - Inconsistent ( So Variability risk means key characteristics of planned event to be uncertain- The Planned event here is "productivity", it will be there but will it be above target or below target or just the target ).

Ambiguity means - Inexactness or fluctuation which is kind of similar to inconsistent but here it the key word is "Imperfect knowledge " . Example - Future Development in Audit process.
Moderators: Yolanda MabutasScott GillardMary Kathrine PaduaCynthia Lim Louis, PMPTracy Shagnea, PMPPatrick Floris PhD PMPJoe PangJohn Paul BugarinAmy MartinezEmily RiveraLisa Sweeney PMPHarry ElstonMani Selvan

OSP INTERNATIONAL LLC
OSP INTERNATIONAL LLC
Training for Project Management Professional (PMP)®, PMI Agile Certified Practitioner (PMI-ACP)®, and Certified Associate in Project Management (CAPM)®

Login
Boost Your PMP Exam Prep in Only Eight Hours! Join the Live PMP Coaching Class on November 23/24 for just $179. Click to learn more... OR Click to watch a free session...