Comprehensive Project Log and Risk Log Book for Business Projects

This document presents a project log and risk log book that meticulously tracks potential risks and their impact on a business project. It identifies risks such as unreliable primary source information, limitations in sample size due to time constraints, potential underestimation of project activities, and employee dissatisfaction with new changes. For each risk, the log proposes mitigation actions, including thorough analysis of primary source data, focusing on smaller, more manageable sample sizes, prioritizing project activities, and training employees to adapt to new modifications. The log emphasizes proactive risk management to enhance project efficiency and overall success. Desklib offers this document alongside numerous other solved assignments and study resources.

Project Log
Project & Risk Log Book
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 1 June to
21st June
(3 Weeks)
Collection of first-hand
information through primary
sources
Primary sources
can sometimes
provide invalid
and unreliable
information
H The invalid and unreliable
information can lead the
organization to financial loss
Business enterprise should collect
and use only those primary sources
which provide right information such
as interview and focus group
Analyse each and every data collected
from primary sources
2 22 June to
28 June (1
Week)
Increase sample size for
collecting more valid and
reliable information
Within a limited
time, a period
organization
cannot cover
large sample
size
M Due to the problem of limited
time period organization
cannot collect responses of a
huge population
Instead of large size, the
organization should focus more on
small sample size so it can easily
collect valid information
Manage a time schedule so that
responses from large sample size can
be collected
3 29th June
to 5 July
(1 Week)
Focus on selected tasks
rather than all project
activities.
This can affect
the overall
business project
and result in
project failure
H This can underestimate most
of the project activities
Business enterprise should divide all
project activities and give importance
to all activities
Manage project activities as per priority
level
4 6 July to
12 July (1
Week)
Make modification in the
current project
management plan
Dissatisfaction
of employees
L If employees will not
cooperate with new changes
then it can affect the overall
efficiency and sales revenue
of the business enterprise
Train and motivate people so they
will get influence to adopt new
modifications
Determine all the advantages and
disadvantages of new modifications and
tell them to employees
8465052166487220296.docx: 19-Jun-18 1 of 1