RISK ANALYSIS REPORT
Risk is defined as the possibility of any negative occurrence that may happen due to external or internal factors, and that may be mitigated through preventive actions. There is no projects that would not have risk. So, every projects should be prevented from risk to deliver our products with no risk. There are many aspects that we can manage the risk factors and short it out through different ways.
According to classic PMBok guide, risk management can be divided into for process:
1. Identification: it refers to the detection of risk, which will help you to prevent from achieving your goal.
2. Analysis: it refers to, what are the risks that are most dangerous
3. Planning: it refers to, you will plan for the most dangerous risks.
4. Monitoring and control: work continually on your project to avoid the risk and continually identify the risks.
The list of risks that may come across while working on the projects are listed :
Risk: scope of work:
This is most important part to which the project manager must work on efficiently. Scope of work defines, what are the things that should be included or be within the scope or not.
· Scope of work is poorly specified: it may result in risk if the scope of work is not defined properly while getting all the necessary information from the client to whom the project is concern. If so, it may result in missing of important details that may cause issue on delay of projects and other factors, later on while submitting the project to the client.
· Scope creep: it refers to the unexpected changes and uncontrolled growth to a projects scope. If the scope of work is well deined, I don’t think scope creep will arise.
· Adding unnecessary features: adding of unnecessary that is not already defined in the project scope will arise a risk later on while working on the projects. Adding unnecessary feature result in cost expensive, and also might need more human resource to solve out that specific features.
Remedies:
-scope of the work must be efficiently defined, so that later on you will not face problem what to include in the scope and what not to.
Risk: Human resource/team
This risk is more reflected upon the human resource.
· Team change-over: Its unpredictable that some of your developers or any staffs working for the particular projects would want to leave your team or would want to take a break for any certain reasons regarding health. In this case, your project would get in halt which would result in delay of the project submission to your client.
· collaboration: if there is no good collaboration inside the team, it will result in breakage inside the project that.
· Hiring process: if any of the staffs left uncertainly, then you need to hire someone with that particular skill, which would take time. As a result, you product would get delay in delivery.
Remedies:
-make strong dedicate team who will consistently put their effort until the projects get submitted.
-Hiring process would get creepy in between, so you must be pre-prepared for this with strong and effective plan, so it will not effect your project submission.
Risk: Technical
This is more inclined toward the technical aspects that would come across while working on the project. Some of the technical risk is listed below in the points:
· Application isn’t scalable: Scalable means if you want your product to scale it further to more users , nationwide or in an international level, you would need a good irresistible code to scale your product with no risk.
· Application isn’t stable: there are lots of factors your product will not be stable, may be it’s the reason of lack of proper use of memory, browser incompatibity, fatal production bugs.
Remedies:
-the developer should be aware of scalability of the products and should work likewise.
-the project that you are working on should be tested for various factors, like whether the project is compatible to all the websites or not , since our end users would be using different platforms to access the products.
CONCLUSIONS:
The above discussed are the some common risk that could arise while doing the projects. If we did work on remedy for each of the risk, then we can get the well defined projects with minimum risk.
