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Project Risk

In: Business and Management

Submitted By lilhawk915
Words 1155
Pages 5
Project Risk and Risk Management
Ryan Hawker
AMGT440-E1WW (F14)
Susan Craver
9/18/2014

For this assignment we will be discussing the project risks and how to appropriately manage those risks. We will specifically identify three possible risks to my team project and how this risk will impact the quality of my product. After this is accomplished we will take these individual risks and discuss how to manage them and possibly prevent the risk from becoming a reality. For every project there is some amount of risk but minimizing these risks is a job to which everyone should focus. The project that I am working one is project 2. My company provides web hosting services. A startup company has approached us asking for an online store offering the apps it is developing. There are a few major tasks to be accomplished in this scenario. The first one is to procure and configure web server. The next step involves developing the website and configuring a payment processing solution. Lastly we need to launch a promotional campaign for the website. During this project a lot of small things can go wrong so we need to predict the risks that are associated. The first and possibly one of the worst risks that would be associated with this project is procuring the web server. When ordering this web server we need to obtain it in less than a week so we can configure it by weeks end. If this shipment is late we would need either a backup web server that has already been configured or our client will be receiving their project late. An alternative would be having the employees work overtime for the rest of the project to get it completed on time, if it is even possible. This external risk could arise for a number of reasons. Firstly would be that the delivery itself was late, so they received the project late. Secondly, the order for the server could have been input too late.

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