Assumption is a positive condition which is necessary for successful project implementation. On the other hand risk is a negative condition which is a threat towards implementing a project successfully. An example of assumption is “Local leaders are cooperative” regarding the implementation of a road construction project in a particular locality. Here the positive condition is that the local leaders are cooperative. This support in the form of cooperation is very much necessary for implementing the proposed road construction project; otherwise, the project management will face problems and difficulties in doing their job properly. Experiences indicate that the project implementation may be suspended or even stopped in the face of violent non-cooperation of the local leaders.On the contrary,Risk is branded as just the opposite view of the assumption. An example of risk is “Flood may occur” during the construction period of the particular road.This risk condition remains as a threat for the project management.
Justifiably, the planners and the decision makers must consider to identify the underlying assumptions and risks involved in the planning stage of any project. The assumptions and risks so identified then need to be incorporated in the planning document namely project planning matrix and the logical frame-work accordingly.Separate working strategies should be formulated to influence the assumptions to happen/remain stable; and to take contingency measures to minimize/reduce the impact of risks, if at all so occur.
Both assumptions and risks are needed to bring under the preview of regular baseline-survey-through-impact-assessment-and-benefit-audit-as-linked-to-project-cycle-management/”>project monitoring system in order to oversee the status and update the project management accordingly.