Project & Risk Log Book: Activity Tracking and Risk Management

This document presents a project and risk log book, showcasing the activities undertaken and risks encountered during a project's lifecycle. It highlights the importance of identifying, assessing, and mitigating potential risks, emphasizing that the specific risks, their probabilities, and impacts can vary significantly from project to project. The log details various risks identified, their impact levels (low, medium, high), effects on the project timeline and objectives, risk reduction actions taken, and tasks planned for subsequent weeks. Key areas of focus included learning aspects of cloud computing, communication technology, the Internet of Things, and artificial intelligence, with particular attention given to the challenges and complexities associated with AI algorithms. The log also documents the team's efforts to finalize the project report, addressing issues related to data organization and presentation. This project log serves as a practical example of risk management and activity tracking, illustrating how teams can proactively address challenges and maintain project momentum. Desklib provides a platform for students to access similar documents and solved assignments for academic assistance.

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 Project Risk Reduction Actions
Proposed & Actual
Tasks for next week
1 29-Jan-18 Project started No risk No
impact
No effect on the project No risk reduction or action required
to counter this effect
The preliminary research for the project
was done by every member of the team
2 29-Jan-18 The preliminary research
for the project was done by
every member of the team
Time delay Low Minor 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
3 2-Feb-18 Parameters were set for
the project describing about
the necessary easy and
difficult tasks
Minor High Time 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
4 2-Feb-18 Learning 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
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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 Project Risk Reduction Actions
Proposed & Actual
Tasks for next week
5 9-Feb-18 Learning aspects of
Communication
Technology
The
communication
used by every
user is different
as per his or her
own
convenience
and preference
High A 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
6 16-Feb-18 Learning aspects of
Internet of Things
The different
devices that are
connected and
integrated in the
‘Internet of
Things’ were to
be studied
separately
Low Not 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
7 18-Feb-18 Learning aspects of
Artificial Intelligence
The Artificial
Intelligence was
the most
important part
of the project
and difficult too
High This 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)
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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 Project Risk Reduction Actions
Proposed & Actual
Tasks for next week
8 23-Feb-18 Learning aspects of
Artificial Intelligence
(continued)
Majority of the
Artificial
Intelligence
parts were
algorithms that
made it very
difficult and time
consuming to
be studied
High The 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
9 26-Feb-18 Finalize the report Arranging and
organising of
data needed to
be done that
took long time
Low Finalising 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
10 15-Apr-18
11 15-Apr-18
12 15-Apr-18
13 15-Apr-18
14 15-Apr-18
15 9-Jun-18
16 9-Jun-18
9-Jun-18
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