All project management best practices introduce breakdown structures as a proven technique to decompose the project into smaller components that can be managed, monitored, controlled and reported on. Those breakdown structures include Work Breakdown Structure, Organization Breakdown Structure, Cost Breakdown Structure, Location Breakdown Structure, Document Breakdown Structure and Risk Breakdown Structure among others. In addition, projects’ intensive organizations would also have Enterprise Projects Structure or Portfolio Breakdown Structure.
The WBS is the most important and used breakdown structure in managing, monitoring, evaluating and reporting project performance. For example, each project activity, each project cost estimate, budget or commitment, each risk event, each project communication needs to have a WBS level assigned to it.
How to Ensure that all Risks that Could Impact our Project are Identified?