Rishil Patel Assignment 17.2 Paul Cannon
M2 – 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.
M2 – 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.
