Project Risk Management Assignment Example | Topics and Well Written Essays - 1000 words

Project Risk Management - Assignment ExampleProject description The saucy intranet communion system is computer based and it helps to link different departments within the guild. This has been necessitated by the fact that the companys operations have been negatively impacted by poor communication systems. Poor coordination mingled with different departments has led to poor products which do not meet the needs of the customers. This project is anticipated to distinguish 6 months in order for the new system to be fully operational. Project argonna and objectives The scope of the project is to revamp the communication system of Furniture World in order to improve its communication system. The broad objective of the project is to improve the effectiveness of communication among employees so that they pull their efforts towards the attainment of the resembling goals. The other objective is to improve coordination among the employees so that they are aware of their role expectatio ns. This can significantly conduct to improvement of the products manufactured. Project overview Basically, a project can be described as a series of linked activities that are carried by an organisation and they are aimed at achieving a specific objective (Hellriegel, 2001). In this case, the aim of the project is to computerise the communication system of Furniture world. ... There is also need to mature software that supports the intranet communication system and there is need to train the human resources to use the new system. The cypher for this particular project is set at $2 000000 and it is expected to be completed in six months. Probable bumps and their impacts consort to Yeates & Cadle (1996), risk in project management is inevitable and it has to be taken into shape when implementing a project in order for it to be a success. This assertion is also supported by Morris (2008) who posits to the effect that some situations are unavoidable due to uncertainties that may be encountered in the environment in which the organisation operates. In this case the following risks are expected to be encountered during the implementation of the project. Budget constraints are likely to be encountered since there may be need to hire more human resources in the implementation of this project. Jones (2007) posits to the effect that financial risks are a major threat to the implementation of any disposed project since it may fail to reach its objectives. The source of this risk is mainly as a direct of poor project management. Resistance to change by the employees is another risk that is likely to affect this project. According to Werner (2003), resistance to change is mainly a result of general fear for the unknown or want of information about the new initiative among the employees. This can derail the project according to (Rossouw et al, 2003). The other risk is related to drop of technical knowledge among the people involved in the implementation of the p roject. According to Waring & Glendon (1998), lack of knowledge about a particular project is a risk that may affect its