Project & Risk Log Book: A Comprehensive Guide to Managing Project Risks
Verified
Added on  2024/05/21
|3
|1058
|439
AI Summary
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Project Log Project & Risk Log Book This document contains examples of activities that you undertake and log risks that you may encounter during the course of your project. Clearly it is not a template – you can’t just take the risks and assume that they will be the ones you will encounter.Also the probability and impact of risk will vary from project to project, as well as the risk reduction and contingency actions you can take. The ‘High High’ risks are made bold in the list below as clearly it is these risks that should get most attention in terms of analysis, monitoring and risk reduction effort. Live Risks Week No.Date Identified Update on weekly research (including new ideas or change in project direction) Risk identified or Problem encountered Impact (L,M,H) Effect on ProjectRisk Reduction Actions Proposed & Actual Tasks for next week 129-Jan-18Project startedNo riskNo impact No effect on the projectNo risk reduction or action required to counter this effect The preliminary research for the project was done by every member of the team 229-Jan-18The preliminary research for the project was done by every member of the team Time delayLowMinor effect on the project due to delay in time No risk reduction or action required to counter this effect Parameters were set for the project describing about the necessary easy and difficult tasks 32-Feb-18Parameters were set for the project describing about the necessary easy and difficult tasks MinorHighTime was taken beyond expected to set the parameters about in scopes and out scopes Actions The team needs to ensure that proper communication is established among every member so that the time taken to set the parameters and describing about the areas to be considered while carrying out the research can be reduced Learning aspects of Cloud Computing 42-Feb-18Learning aspects of Cloud Computing The structures about functioning of cloud computing was not very clear Moderat e Extra research needed to be done by taking references from videos Actions Referring to video tutorials to understand the cloud computing structure in layman's term is the best possible option available to the teammates in order to learn about the basics of cloud computing. Moreover, internet articles are helpful to know the significance and current implementations of these technologies Learning aspects of Communication Technology 17175165151028904055.docx:20-Apr-181of3
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Week No.Date Identified Update on weekly research (including new ideas or change in project direction) Risk identified or Problem encountered Impact (L,M,H) Effect on ProjectRisk Reduction Actions Proposed & Actual Tasks for next week 59-Feb-18Learning aspects of Communication Technology The communication used by every user is different as per his or her own convenience and preference HighA common communication form was to be chosen for the rectification of communication issue Actions The communication needs to be established in a common platform so that everyone is convenient with it and the overall communication can take place without any hindrance Learning aspects of Internet of Things 616-Feb-18Learning aspects of Internet of Things The different devices that are connected and integrated in the ‘Internet of Things’ were to be studied separately LowNot much effect but the team members had to spend extra hours in learning the specifications of the integrated devices and the time was later compensated in the form of weekends working Actions Using The Reader manuals of smart electronic devices and watching advertisement of those particular devices can prove to be very helpful in knowing the aspects of internet of things and the devices connected to them in an integrated manner Learning aspects of Artificial Intelligence 718-Feb-18Learning aspects of Artificial Intelligence The Artificial Intelligence was the most important part of the project and difficult too HighThis affected the project very badly because the algorithms of artificial intelligence for very much confusing to learn and there was minor details available about the actual application and significance of artificial intelligence in business organisation to carry out activities like marketing and Advertising through digital and artificial intelligence methods Actions Due to the difficulty level of Artificial Intelligence and the lack of link of the entire syllabus to that of the academic syllabus of college, the data and algorithm part was bypassed by team members after deciding mutually about different possible solutions Learning aspects of Artificial Intelligence (continued) 17175165151028904055.docx:20-Apr-182of3
Week No.Date Identified Update on weekly research (including new ideas or change in project direction) Risk identified or Problem encountered Impact (L,M,H) Effect on ProjectRisk Reduction Actions Proposed & Actual Tasks for next week 823-Feb-18Learning aspects of Artificial Intelligence (continued) Majority of the Artificial Intelligence parts were algorithms that made it very difficult and time consuming to be studied HighThe team had to research through multiple items like books, online article, and even YouTube videos in order to find out the best way Artificial Intelligence can function. However, it was of not very good results because the understanding of artificial intelligence algorithms and the ways to implement them on any system was to be studied from the beginning of coding theory. Actions Only the applications of artificial intelligence in business marketing which are used by some selected organisations have been studied and mentioned in the project Finalize the report 926-Feb-18Finalize the reportArranging and organising of data needed to be done that took long time LowFinalising the report did not have in high degree of adverse effect on the project because every research was done by then and the team members just needed to organise the data and reports according to the serial and pattern of research. Actions The team has learnt to arrange the data necessary for project formulation in a sequential order from the beginning of the project 1015-Apr-18 1115-Apr-18 1215-Apr-18 1315-Apr-18 1415-Apr-18 159-Jun-18 169-Jun-18 9-Jun-18 17175165151028904055.docx:20-Apr-183of3