Identifying and Managing Project Risk Assignment

Identifying and Managing Project Risk - Assignment ExampleThis is implemented using a project plan.The project I was tasked to plow was to create a stock management system for a owner who sells computers and other accessories. The appreciation of risk management assists in getting the knowledge of the situation and probabilities of certain risks, planning for them and mitigation techniques to counter them. Risk management takes the step towards managing risks through selection, implementation, and control measures. This creates assurance and confidence in the project team in the event of any uncertain events occurring. Risk management has enabled the creation of control measures in the project that was universe created for the proprietor. Knowledge of risk enabled the creation of proper feedback mechanisms for the exploiter of the system such that any problems encountered are directly communicated to the project team through the provided means.The project implementation encounte red several surprise events that I will mention. This being an I.T system being built on an I.T environment, the users of the system is always bound to change requirements or the scope of the project. In this case, the proprietor had asked for a system that manages the entropy he uses, later he noticed that he needs some analytical tools that he did not mention. That had to be accommodated by the project team in the allocated time for a change in requirements. As we discussed the project requirements, there were no provisions for the security of the system by the user, which the project team identified. This prompted consultations with the proprietor about the importance of a secure system and this was handled effectively. This actually enhanced the user and developer communication for the effectiveness of the system.