Project Management Part 2: Risk Register, Project Closure, and Methodologies

PROJECT MANAGEMENT PART 2

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................4
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
Project management is process of leading the work of team in order to accomplished
goals with given constraints. It is mainly known as project documentation that is created at the
beginning of the project development process. Along with this, the study will discuss about risk
register as well as methodology related with project management.
MAIN BODY
Part A
Risk Management Register for Launch Event of QAHE
Risk Identification Assessment
Serial
Number
Risk Event Cause Effect Probability Impact Risk Score
1 External
Environment
Risk
The taste
and
preference
or the nature
of the
targeted
audience
might
change
Project
failure
1 3 3
2 No control
over staff
priorities
The project
manager
have not
define roles
and
responsibility
to staff
Project
Delay
2 1 2
3 Ill Defined
Scope
The purview
of the
affected
parties was
not
formulated
properly
Project
Delay
1 3 3

4 Inappropriate
Budget
management
expenditure
is much
more then
estimated
costs
Increased
Project
Costs
1 3 3
5 Communication
Barrier
Team
members are
not
performing
their tasks
with
expected
efficiency
and
performance
is lower
Project
failure or
Project
Delay
2 3 6
6 Legal action
delays
Not
following
legal law
while
working in
project
Increase in
project
costs and
delays
1 2 2
7 Natural
Calamities
Landslide,
earthquake,
floods, heavy
rains etc.
Project
cancellation
1 3 3
8 Stakeholder or
Sponsor
disengagement
The sponsor
is no longer
interested in
the project
due to its
non-viability
Project
delay and
increase in
cost
1 3 3
9 Theft of
material
Theft of
intellectual
property or
raw material.
project
delay and
unnecessary
expenditure
1 3 3

Project 2

Table of Contents
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3
Risk Register..........................................................................................................................3
Project closure........................................................................................................................6
Methodologies........................................................................................................................7
Recommendations............................................................................................................................9
Conclusion.....................................................................................................................................10
REFERENCES..............................................................................................................................11

Introduction
Project planning refers to the process in which several tasks are being taken into
consideration for completion of a project with specified period of time and with given resources.
In the given report which is a continuation of project 1 in which development of an application
called “QAHE mobile application” was being described. The respective project will undertake
several associated risks in carrying operational work of the project by developing a suitable risk
register and will define scope of project closure with relevant to the specified project. In the
presented report evaluation of different types of methodologies like Waterfall, Agile and Prince 2
is being taken into consideration (Monteiro, 2017).
Main Body
Risk Register
Risk register is a document in which list of risk associated to a given project is being
outlined. It is an important document which provides its important contribution in decision-
making process of the business firm. For carrying a project work it becomes important for a
project manager to take considerations of various associated risks for achievement of project
goals and objectives. In regards to the given project a risk register is being maintained by
managers of the given project. By maintaining such documents completion of project goals and
objectives can be assured and damage control strategies can be initiated for completion of project
within the investment of provided resources. For the given project project managers have taken
into considerations of 10 risks, these are as follows (Marnewick, Silvius and Schipper, 2019);
1. Technological failures
2. Staff priorities
3. Market uncertainties
4. Limited resources
5. Natural disaster
6. Unexpected requirements of funding
7. Funding requirements on the project that is already completed
8. Appointment of incapable production manager
9. Money invested in worthless software
10. Terrorist attack in the premises

Description of
risk
Chances of
occurrence of
the risks
Impact Severity Owner Mitigating
action
Technological
failures
The
possibilities of
occurrence of
this risk stays
at high
frequency.
This might
largely impact
over project
activities. As
due to high
dependency of
project work
over such
technologies
over time have
created its
negative
impact if they
are not
available at
the required
period of time.
It is high while
considering
both the
aspects
Technological
department
In order to
overcome such
risk, suitable
backup plan
can be
formulated by
project
managers.
With the fact
that respective
backup plan
would not
derive that
better scope of
effective
working but it
might be
useful by
limiting the
scope of the
project.
Staff priorities The chance of
such type of
risk stays at
moderate
frequency.
This could
lead to
possible
conflicts and
disputes in the
The severity
is low while
evaluating
both
likelihood and
Human
resource
This could be
solved through
use of
appropriate
human