Project Management Assignment with Tips and Techniques

Project Management Assignment1
Project Management Assignment
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Project Management Assignment2
Table of content
Contents
Cover Page.............................................................................1
Question 1
1.1.......................................................................................3
1.2................................................................................3
Question 2
2.1........................................................................................4
2.2........................................................................................4
2.3........................................................................................4
Question 3
3.1........................................................................................4
3.2........................................................................................5
3.3.......................................................................................5
3.4.......................................................................................5
Question 4...............................................................................6
Question 5
5.1.....................................................................................7
5.2.......................................................................................7
5.3.......................................................................................9
References ...................................................................................10

Project Management Assignment3
Project Management Assignment
Question 1
1.1
"Projects operate in an environment composed of uncertainty. There is uncertainty regarding
project funding, availability of resources and potential technical problems.
Project management deals with projects that have a long time span and at the beginning of the
project, it is impossible for the project manager to have exclusive data on all the factors that
affect the progress of the project. The funding of the project may face some uncertainty due to
the fluctuating economy situations and the managers should make estimations considering the
economic projections. The resources available for the project depend on several factors that are
correlated and it is a complex system to understand therefore managers have to operate in
uncertainty environment. During the project, a lot of technical problems are bound to occur and
they have a risk implication on the entire project. The success of any project is determined by
how well a project manager is going to manage the risks that are likely to arise during the
project.
1.2. The difference between the various categories of risks
There several types of risks that are likely to occur in project management and a
good project manager should be able to differentiate them so as to deal with them. The various
common categories of risks include executive support, scope, change management, stakeholders,
technical, design and many more. A good project manager should be good at identifying,
accepting, accessing, documenting, mitigating and controlling all the risks in a project.
Executive support is one of the biggest risks that a project manager can encounter and it can be
difficult to document. This is displayed where the project manager is denied executive support
from the executive board of the project. Scope as a risk can be documented when the project
team is not sure on a given estimate and therefore the scope risk relies on the quality of
dependencies and your estimates. Change management is a risk that is associated with the
complexity of change that may add the budge of the project and time taken to complete a project.
Stakeholders risk is a type of risk that arises due to the negative attitude of some shareholders
and they may create roadblocks at various stages of the project intentionally. The design of a
project is also as a risk since a low-quality design will be less flexible to some unexpected