Project Manager Tips & Hints

06 May 2008

Identify Risks Using Project Management Software

Identify any Risks Using Project Management Software

Risks are defined as “any event which may adversely affect the ability of the solution to produce the required deliverables”. Summarize the most apparent risks associated with the adoption of each solution. For each risk, identify the mitigating actions required to reduce the likelihood of it occurring, as well as reduce the impact on the project should the risk actually eventuate. Complete the following table:

Risk Description	Risk Likelihood	Risk Impact	Actions Required to Mitigate Risk
Inability to recruit skilled resource	Low	Very High	Outsource project to a company with proven industry experience and skilled staff
Technology solution is unable to deliver required results	Medium	High	Complete a pilot project to prove the technology solution will deliver the required results
Additional capital expenditure may be required	Medium	Medium	Maintain strict cost management processes during the project