Common risk scenarios in project management are as follows:

1) Data security: If project team is working on a project which can affect data security it is very important to track and reduce that risk.

Unmanaged risks may result in:

• Information being stolen: Without proper mitigation, the business could become vulnerable to private information being stolen. This is especially harmful if it’s customer information being stolen.
• Credit card fraud: This is dangerous for a number of reasons, but could result in a loss of revenue and potentially require legal action.

Data security is a top risk and should be prioritized accordingly in order to prevent long-term security issues.

2) Communication issues: Communication issues can arise no matter the size of your project and team. While a risk register can help identify where communication areas live, it can be helpful to also implement work management software to streamline communication at work. Creating a perfect communication plan can help to eliminate communication issue.

3) Scheduling delays: If scheduling errors and delays go unnoticed, they can become a big problem when deadlines are missed. Tools such as timelines and team calendar software can help prevent scheduling errors in the first place.

Scheduling delay in project can result in:

• Rushed deliverables: If the project hasn't been executed and the final result of the project has been made eagerly due to lack of time. The main goal of project may miss due to this and the efforts may become worthless.
• Confusion: Teams can become overwhelmed and confused without a proper schedule in place.

4) Unplanned work: All the work to be completed should be properly planned. Unplanned work may cause in more delay and and more resources used than the normal.Catching unplanned work early on allows to properly delegate it to the project lead.

5) Theft of materials: Business that has large inventory of products could run the risk of theft. By tracking inventory consistently and frequently can help project management to catch risks early on to determine the cause.