Risk analysis and management

Risk Analysis

One of the things we should not forget in project management is how to prevent or avoid risk because just one risk can spoil everything. This has been a bug in the minds of project manager and finding solutions to these are painstaking. So, first we will analyse all the risks and solutions to tackle these kinds of risks so that we can finish all tasks without any interruption.  An assessment of the risks involved will be analyzed in the table below.


Risk Analysis and Management

	Type of Risk	probabilities	effect		Solution
Project Organization
	Problem in communicating client.	High		high	Scheduled timings for discussions
	Meeting cancelled	Very low		Low	Multiple dates, arrange in advance unless trivial.
	Changes in project direction	Low		High	Stick to plan
Experience with technology and methods
	Files lost/	low		huge	Multiple copies on computers/flash sticks
	Loss of software/hardware	low		huge	Store copies on multiple locations
	Use of new technology/software	Medium		Medium	Arrange tutorials at school
Scope
	Inability to reach deadlines	high		serious	Keep tight schedule, check on work