Question

Assignment Content Potential risk factors are found in every project. Although individual projects have different risks, there are several common risk factors. Create either a list or chart of 5 common potential risks. In 1 to 2 sentences, briefly explain why each of these risks are so common. How are they measured? Why are these important to consider when evaluating an organization’s strategic plan? Submit your list or chart.

Answer 1

Answer and Explanation:

The common risk factors into the project are shown below :-

a. Most of the projects are at risk from the budget. In which the organisation estimates the budget is inaccurate or less for the project.

b. One of the important risk organizations that the project faces is that there is a conflict between the parties concerned. That could affect the project.

c. Technology risks one of the threats, too. Where service outrage interferes with or affects a project.

d. We face the threat of schedule even during the project. Where it's not finishing the project on time. That will improve the company's costs.

e. In the project health and safety is a common threat that each organisation or initiative has to face and make the threat a priority.

All those risks are normal, Since expense, technology, and manpower are important in any project period. That allows us to finish the tasks and how that affects other factors. It can represent a risk to the project.

There are plenty of risks in the project which are normal to some of them. Measuring all of those threats. We need to audit the project in a timely manner by analyzing the project situation and that we can also do a project performance management to evaluate all the project risks.

Understanding these risks can be a powerful and significant consideration for the company in the strategic preparation of the organisation.

Through taking those risks into account. Organization can accurately foresee the potential problems, the project situations.

It should help the company overcome the problem as quickly as possible. That helps save the business time and costs.