Essay
Unit 17 - Project Planning in IT - P4
- Course
- Institution
Will achieve this task - use to help.
[Show more]
Seller
Follow
rishilpatel08
Content preview
Rishil Patel Assignment 17.2 Paul CannonM2 – Assess the impact of potental risks to a project
1. Introduction
1.1. In this report, I will be assessing the impacts of potental risks that can happen in the
project. The risks that can happen can either be during the project process or maybe even
before startng it. The following risk that I will be talking about is project budget – budget
over-run; time – ail to lmp ement; technlci skl s; and ess ivil ibl lty oa key users.
Within this report, I will discuss:
1.1.1. Whit ls the rlsk?
1.1.2. Whit lmpict cou d occur?
1.1.3. How to mltigite the rlsk? hhow to reduce the rlsk)
2. Project Budget – Budget Over-run
2.1. Whit ls the rlsk?
This can be a potental risk when it comes to the project because it all depends on how
consistently the team take money out from their budget and so the project team will need
to take special care. In this case, Computer Crazy have a budget of £48,000 available and
they reckon this would cover for the developmental costs along with the cost of hostng the
website for their frst year. The project manager must be aware of how ofen the money is
being used and that they don’t go on an overdraf as for future they may not be able to
purchase resources and etc. for further implementatons towards the website.
2.2. Whit lmpict cou d occur?
The impact that could occur will afect the project team in terms of tme. The project could
face tme issues as they would need more money added to their budget and because of
that the project tme will be lessened, tme will be wasted which could have been used for
something useful. Moreover, the team will not have enough money lef in their budget to
purchase more material and resources especially of they are worth a lot of money.
2.3. How to mltigite the rlsk?
In order to mitgate this risk, as a whole, the project should make agreements to what can
be done within the project in terms of their project and they must set aside any constraints
as well as to plan what items to purchase in order for the project team to strive through.
Another way to mitgate this risk is by frst focussing on the resources that are most needed
and then proceed to purchase other things if needed to. The most important thing is that
the purchases should be monitored so that the Computer Crazy project team can prevent
themselves from going over the project.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller rishilpatel08. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.66. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53068 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now