PMP - Risks | Issues | Assumptions | Constraints - Page-19

📘 Risk vs Issue vs Assumption

vs Constraint

PMP's Most Important Project Concepts

These four concepts are commonly tested in PMP exams. A simple way to remember them is:

📊 Quick Comparison

Term Meaning Future or Present?
Risk An uncertain event that may affect the project Future
Issue A problem that has already occurred Present
Assumption Something believed to be true without proof Future / Present
Constraint A limitation or restriction on the project Present

📘 Key Concepts

🔴 Risk

A risk is an uncertain event or condition that, if it occurs, can have a positive or negative effect on project objectives.

Examples
  • A key developer might resign.
  • Material prices may increase.
  • A new technology may improve productivity.
Keywords
  • May happen
  • Uncertain
  • Future event
PMP Tip

Risk = Potential Problem or Opportunity

🟠 Issue

An issue is a current problem that has already occurred and requires action.

Examples
  • A key developer has resigned.
  • A server has failed.
  • A vendor missed a delivery deadline.
Keywords
  • Has happened
  • Current problem
  • Needs immediate attention
PMP Tip

Issue = Risk that has occurred

🟡 Assumption

An assumption is a factor considered true, real, or certain without complete proof.

Examples
  • Customer will provide requirements by June.
  • Skilled resources will be available.
  • Funding will continue.
Keywords
  • Believed to be true
  • Not yet verified
PMP Tip

If false, it can create a risk or issue.

🟢 Constraint

A constraint is a limiting factor that affects project execution.

Examples
  • Budget limited to ₹10 lakh.
  • Project must finish within 6 months.
  • Only 5 developers are available.
Keywords
  • Restriction
  • Limitation
  • Boundary
PMP Tip

Scope, Schedule, Cost, Quality, Resources, and Risk are common project constraints.

🧠 Simple Example

Project: Build a Mobile Banking App

🔴 Risk
The security audit may fail.

🟠 Issue
The security audit has failed.

🟡 Assumption
The cybersecurity team will be available next month.

🟢 Constraint
The app must be completed within 4 months and ₹20 lakh.

🧠 Easy Memory Trick

🔴 Risk → Might happen
🟠 Issue → Has happened
🟡 Assumption → Believed true
🟢 Constraint → Must work within it

R - I - A - C

🎯 PMP Exam Cheat Sheet

Question Answer
Could happen in future? Risk
Already happened? Issue
Believed true without proof? Assumption
Limits the project? Constraint
Remember: Risk is future, Issue is present, Assumption is belief, Constraint is limitation.

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