University Project: Risk Assessment of Ecommerce Website

This report presents a risk assessment of an ecommerce website project, focusing on the design and development of a retail platform. The project aims to create an online store for 'fashion online' to expand their reach and increase revenue. The report outlines project scope, including features like product viewing, cart management, and secure online payments. Key stakeholders, potential conflicts, and project constraints are identified. The assessment delves into risk treatment methods, such as risk avoidance (removing Windows compatibility), a combination of risk acceptance and residual risk, and risk transference (outsourcing for specialist knowledge). The report highlights the differences between risk avoidance and acceptance, emphasizing strategies to minimize project risks and ensure successful execution. The analysis covers various potential risks including stakeholder conflicts, website performance issues, and security vulnerabilities, along with mitigation strategies.

Running head: RISK ASSESSMENT OF PROJECT
RISK ASSESSMENT OF PROJECT
Name of the Student
Name of the University
Author Note

RISK ASSESSMENT OF PROJECT
Question1
Project Scope
Part 1:
Organisation
Design of an ecommerce system Date
Project Description In this project an ecommerce website will be designed to sell retail products
online
This ecommerce website will help “fashion online”, client organisation for
this project to reach to wide range of consumers through online platform for
showcasing various retail products and sell it online to increase revenue
A complete ecommerce website
 Ecommerce website should have all the basic feature such as option
for viewing products online, adding product to the cart , modifying
product cart and playing online after product purchase
 Website should have proper loading speed
selection of appropriate technology for website design
delivering project within time and budget
ensure stakeholder satisfaction while fulfilling stakeholder requirements
stakeholder satisfaction does not change without proper reason and even it
is need to be changed it is properly communicated so that each part is aware
of the process
there will be no issues regarding resource allocation and investment
throughout the project execution
project will be completed within the approved timeline and the budget
Key Stakeholders
conflict with stakeholders regarding project requirements and project budget
website might not perform as intended and might crash as well sometime

RISK ASSESSMENT OF PROJECT
due to technical faults
website might be hacked and data might be stolen due to lack of proper
security process
28/03/2019 15/04/2019
Part 2:
Question 3
Risk Treatment Methods:
1.As Windows phones occupy just a tiny portion of the world market (0.7%), and are being
deprecated by Microsoft, hence execution of the project with windows platform increases risk for
the project as it is difficult for the project to ensure success. hence when it is recommend to the
client that “Windows” compatibility should be removed from the project, it is to avoid the risk by
excluding the aspect of the project that is responsible for the risk in the project. hence the risk
treatment method that is followed here is the risk avoidance method as it reduce project risk with
elimination of the risk factor for the project.
2. A combination of risk acceptance and residual risk as the risk treatment method should be used
when a section of the project is too difficult for the company to perform.
While risk acceptance provides context for risk mitigation, it is then treated with possible risk
mitigation techniques that is available for the project so that the effect of the risk is minimized as
low as possible and the remaining risk is known as the residual risk.

RISK ASSESSMENT OF PROJECT
3. When the HR department is suggested to employ someone with specialist knowledge in the area
it is intended to reduce the project risk due to lack of skill and knowledge. Hence this an example of
“Transference” as part of the risk of the project is transferred through outsourcing.
4. The main difference between “Avoidance” and “Acceptance is that in risk avoidance, strategies
are developed to exclude factors that is responsible for project risk and in risk acceptance, project
plan is executed with the risks as those risks are not easy to avoid, but possible to minimize that
ensure optimum project execution.