Project Management Report: Risk Analysis, Communication, Methodologies

This project management report provides a comprehensive overview of project management principles, focusing on risk assessment, risk registers, communication strategies, and methodologies. The report analyzes various types of risks, including technical, external, and time-related risks, and suggests mitigation strategies. It includes a detailed risk register with rankings, mitigation measures, and avoidance techniques. Furthermore, the report emphasizes the importance of effective communication in project success, discussing communication frameworks and leadership techniques. The report also covers the use of methodologies, such as qualitative governance, to facilitate project development and achieve desired outcomes. The report concludes with insights on the importance of regular risk log reviews, the role of risk managers, and the necessity of understanding both negative and positive risks within a project lifecycle. The project focuses on the creation of a modern cell telephone program to provide daily information and allow students to report events independently.

Project Management

Table of Contents
INTRODUCTION...........................................................................................................................1
PROJECT 2......................................................................................................................................1
a) Number of risks..................................................................................................................1
b) Risk Register......................................................................................................................1
Short report.............................................................................................................................5
a) Communication..................................................................................................................5
b) Methodologies....................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Project management framework chiefly designed to help mitigate the risks of failure during
project operations form beginning to end. The study project covers comprehensive Risk register
and related project management aspect. This will help project managers to complete project
operations satisfactorily. The good and consistent results could be effectively accomplished
with support of this
PROJECT 2
a) Number of risks
During the project, focused on the creation of a modern cell telephone programme, it
aims to provide accurate information concerning everyday experiences and also allows students
the opportunity to report their individual events independently. Some of the risks include success
risk, external threat, contact risk, business risk, technological risk, operational risk, etc. Both of
these will have detrimental impacts on the current project. Therefore, it is important that project
manager handles and conducts successfully with a view to risk control. This could be achieved
by evaluating same and enhancing prospects for better outcomes. at the very same moment. This
is followed by the preparation of an appropriate risk register related to a project, which can help
to control risk considerations through project growth (Pinto, 2014). The following aspects should
both be comprehended:
b) Risk Register
Here ranking is given from 0 to 5 in which 0 reflect to the Nil and 5 is relate with high
Risk Reason Mitigation/ Acceptance
measure/ Avoidance
Ranking
Technical risk Reasonable and proper
application design is beneficial
for project managers as it lets
them accomplish the entire
project within a given timeline.
In comparison, it would be
more expensive to create the
Throughout the
deployment of an
existing project, project
manager should focus
solely on software
design. This should
contain the coding, the
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new smartphone app because
more time as well as resources
is needed.
application and the
graphical layout. This
are all task leaders who
promote professional
risk control and assist in
the achievement of
established objectives
(Portny, 2017).
External risk The latest application on market
entails a number of external
threats. Therefore, it is
important for this operation to
function properly.
Proper market analysis
developments can be
seen as a vital way to
counter emerging risks
through more efficient
mobile app creation.
1
Time related risk Limited duration is one biggest
threat when project is
undertaken. There are 1.5
months to complete this
mission. If the entire project is
not executed on schedule, the
effect on project operations is
detrimental.
Gantt Chart viewed a
crucial tool in dealing
with this issue or threat,
that allows project
practises to be handled
in a specified timeline.
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Risk related with
customers
The varying expectations of
clients are still a big concern in
the creation of a new mobile
framework for project
managers.
Proper consumer review
and concerns are
important, as they tend
to minimise risks and
boost the project's
beneficial outcome.
4
Performance
related risk
It is necessary to be able to cope
with privacy concerns resulting
A new platform to better
handle the performance
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from external influences during
the production of mobile apps.
In this initiative, managers
perform their new applications
at greater risk (Rasnacis and
Berzisa, 2017).
threat of mobile devices
is important to resolve
this sort of problem. As
various things such as
Rim are included,
Android, apple iOS and
many more, they assist
project managers to
lessen the risk
considerations that
negatively affect mobile
app efficiency.
Conflict
management risk
The project practices would
also be directly affected as
disagreement is handled
amongst the group members by
this form of risk. Fresh mobile
device creation ought to be
properly altered across
effective, unsafe platforms and
characteristics.
Proper management
process of such a form
of threat is important
because it allows project
managers to control
project operations
systematically.
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Fund related risk Expenses/costs and budgeting
are important to the production
of modern smartphone apps.
Offering students with
sufficient knowledge and costs
about new applications. As is
found in mobile device
applications.
In determining the
fund's origins, any
project operation shows
a professional.
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Risk related to Reasonable resource allocation Trained workers and the 3
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the resources remains essential for project
management focused on the
creation of the modern mobile
telephone app. There is a need
to build a new project with
adequate money, materials,
machinery and some legislation.
right resource
distribution are more
efficient or supportive in
designing the cell
telephone application
effectively. As it allows
students to report their
own activities while still
getting all the details
they need within
QAHE.
Market risk A thorough market research is
needed for the production and
initiation of mobile applications
to help prove the requisite
knowledge on mobile
applications. It will help to care
efficiently for all consumer
demands
Proper consumer
research would be
useful to better assess
consumers' real
expectations and
preferences for the
current cell telephone
technology.
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Communication
related risk
It is essential for project
managers to interact
appropriately with workers aim
of providing knowledge about
the mobile app efficiently. The
team leader may effectively
fulfil clients' desire for the
specific aspect by handling
team collaboration.
For the availability of
accurate knowledge,
college administration
distributes brochures on
the creation of a new
smartphone app.
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Most Risk Managers occasionally try to reduce the likelihood of the risk or the impact if the risk
occurs. Comments are recorded in the risk log and the log should be reviewed regularly to
monitor progress. It is best to check the risk log at each campaign group meeting. It should be
positively tested towards the end of each phase of the business cycle. The risk board should be a
regular cycle with the firm taking the risks with the Risk Manager or Project Manager who is at
that level recording the risk and differentiating trends which can be done to reduce the risk. In
order to appropriately address a risk, the Risk Manager may need to acquire experts to
understand the actions that can be taken to reduce the likelihood of the risk or the impact in the
event of a risk.
The rationale behind a risk register in the board's campaign is to document the
appropriateness of each risk identified during the audit and plan how to address those risks.
Indeed, it is a log that identifies the risks associated with severity and the actions and measures
that should be taken to reduce the risk. Business knowledge base managers see a risk log as an
administrative tool to monitor the risk measured by executives within the company. It is the
responsibility of the head of operations to ensure that the risk log is updated at any critical time.
The risk register update effort is usually assigned to the activity control function.
In the Perform Qualitative Analysis process, subtleties are added to the existing risk cycle
in the risk log, including the usefulness of the risks, the absence of the risks, the form of the
risks, and any patterns observed during this cycle. Hazards that have been studied, avoided or
were less important at this stage can be removed from the risk register. The associated risk action
plans can be deleted from the risk register. In the Increase Risk Analysis step, the risk log is
updated with probabilities for each specific risk and the probability of meeting the cost and time
projections. In addition, the risk requirements have been updated and the trends identified are
also noted. To the extent of the risk response plan, a specific response plan has been developed
to address each risk. These risk response plans are updated in the risk log as a result of this cycle.
When monitoring risks, remember that not all risks are negative, there are positive risks. Ideally,
a business administrator should devise procedures for monitoring negative risks or risks just like
some risks or openings.
According to the PMBOK Guidelines, the risk register is the performance of the Risk
Identification step in the risk management information section. A risk organization circle is an
organizational circle used to differentiate risks, which can affect the level and perception of those
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risks. Despite the fact that the Identify Risks measure is performed almost immediately in the
campaign, the risks change over the long term and new risks may emerge. As a result, it may be
very important to reproduce a number of specific probabilities several times across the company.
Risks can nullify a business's benefits right now or they could be gradually eroded through
waste management forecasts. At a time when an organization is not working productively, all
additional administrator actions add cost and time to the transaction, thus impacting speed as the
benefits can be realized past - on the off chance that they are in no way passed. Board risk costs
money. In any case, the cost of risk management is useless to operators if a risk arises and
becomes a major problem for the usually long, unparalleled sector. Spending costs arise when
opportunities and associated activities are not planned and identified through appropriate
monitoring. Consumption costs are constant even when a risk is not recognized in any way, after
which the corporate agency has to withdraw money somewhere to take care of business before it
can do so.
Short report
a) Communication
Good relevant communication amongst project managers and members is crucial in
creating an efficacious new cell phone app, since it allows to include all the knowledge required
for the team members regarding cell app creation. To this end, administrators often use one
approach to convey knowledge to project administrators with the intention of easily doing the
similar. As an efficient communication framework, information reception, proper teamwork, and
many others are useful in communicating. This is why good coordination is important when
creating a new smartphone app that facilitates the achievement of defined outcomes in stated
time frames.
Furthermore, efficient leadership techniques are also essential in the productive
development of a modern mobile app. This helps to provide students with daily information. In
this respect, the college project management should use or adopt a qualitative governance
method to establish or develop linnet structures. Especially in a versatile way, all potential
improvements can be included. This allows project management to create and achieve a new
application quickly and achieve their goals (Sanchez and Terlizzi, 2017).
Successful project management communication is about being there for everyone,
communicating the real problems of the job, understanding the key issues within the organization
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that the industry should take as well as understanding supporter issues that the organization is
campaigning for. It is important to be accessible, visible and engaging to everyone, in times of
crisis and crisis. Communication is not limited to dealing with and connecting with people, it is
about understanding the whole message. Whichever language you use, how you apply the
message in terms of tone, mood and non-verbal communication are all very much involved in the
letter circle. On the off chance that they are not misused, the result is often a garbled message
and a misdiagnosis of major problems.
So a successful project manager can only maximize the effectiveness of communication
within the organization by being set up to show others how it's done. There is a core part of the
administration, which will be set up to speak to all attendees at their specific levels. Campaigns
regularly "fail" because we simply neglect to clearly articulate the vision and measures of
success. This vision should be communicated effectively to all participants and colleagues. The
whole group should have a chance to see the final result, pursuing a common goal. Regular
disclosure of progress and status is essential to the success of the campaign. This is given to all
participants in a reasonable and concise way, so that everyone understands what the key
messages are. Summaries, diagrams, graphs and tables should be expanded here. The famous
phrase "words of justice usually cannot make a picture" is less obvious than to indicate the
progress or status of an enterprise.
Communication is feasible and able to provide management communication by first
considering the needs of the population aimed at dialoguing with them, approaching the situation
from their perspective and being predicting what they need to understand and then give that
vision so to speak. Strong start-up skills are key to driving the company's progress and status.
Audiences should be locked in to these presentations to see key messages being received and
seen.
The business manager and the executive team work together to identify who needs what
data. At the end of the day, the board needs to understand what the prerequisites for fertilizing
matches are to expect how to meet those needs. Using the equation, let's take a model with a
small group of five where the recipe estimates that there are 10 matching channels such as: 5 (5-
1) / 2 = 5 (4) / 2 = 20/2 = 10. The campaign administrator should then make sure that there are
five people in the group giving continuity and that there are no holes in everyone's agreement
that only need to monitor letter channels between the groups. Participants will request different
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types of data, depending on how they benefit from the campaign and the need for the action. The
head of the assignment should complete a review of the various partners to understand what data
they require as well as the regularity with which the data will be requested.
b) Methodologies
There are different frameworks to enhance the end results of a given initiative, which
serve as a guideline and checklist for the effectiveness of the pre-determined target. Besides that,
in terms of rules, functions, protocols and methods, each of these techniques is distinct and has
its own effectiveness and weaknesses. The position of project leader is still perceived an
influential position, since an effort is taken to evaluate and assess the entire essence of the
project, using the necessary methodology or means. This allows them to execute their activities
without any challenges in an enhanced way. Any of the approaches listed as following, alongside
their strength as well as weaknesses:
Agile: This technique component is reshaped as an iterative technique that deals
with project on the grounds of its entire life period. Furthermore, the central feature of this
technique is the development or creation of applications in a changed format to increase the
speed and resilience of project amongst competitors. Moreover, the main big
benefit/strength of agile approach is that this provides advantages during the procedure instead of
at ending of the job/task. However, its drawbacks are that it requires tremendous time to
overcome this challenge in period to hit the target (Silvius, 2017).
Waterfall: This approach involves forging the entire project into separate phases or parts
to satisfy the needs effectively. Some of the processes include the detection, validation,
execution, concept creation and management of specifications. In turn, the key advantage is that
it avoids flaws or delays during the project development, while the main shortcoming is that
focused on expectations at the critical level concerned with scheduling. This decreases the
average production level of the given work.
Prince 2: This is most efficient and productive methodologies for a well-designed
project. This predominantly involves managed and managed facets that lead to the progress
of project. In comparison, it is modular in design and can help boost the overall efficiency of the
entire project and then also help to gain further results.
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Prince 2 is, among these approaches, best method of proactive project management including
scheduling. Moreover, it provides sufficient versatility in project operations that tend to reduce
the potential for mistakes inside a project (Too and Weaver, 2014).
CONCLUSION
From above study this has been articulated that helps to successfully finish project tasks.
There are also some techniques to understand Gantt charts, WBS and the essential means of
effectively executing the project planner. In addition, a risk assessment strategy is being
established to determine the threats and factors behind them. With the aid of this project planner,
the cumulative results will be increased and all milestones accomplished in the specified time
span.
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REFERENCES
Books and journals
Pinto, J. K., 2014. Project management, governance, and the normalization of
deviance. International Journal of Project Management. 32(3). pp.376-387.
Portny, S. E., 2017. Project management for dummies. John Wiley & Sons.
Rasnacis, A. and Berzisa, S., 2017. Method for adaptation and implementation of agile project
management methodology. Procedia Computer Science. 104. pp.43-50.
Sanchez, O. P. and Terlizzi, M. A., 2017. Cost and time project management success factors for
information systems development projects. International Journal of Project Management.
35(8). pp.1608-1626.
Silvius, G., 2017. Sustainability as a new school of thought in project management. Journal of
Cleaner Production. 166. pp.1479-1493.
Too, E. G. and Weaver, P., 2014. The management of project management: A conceptual
framework for project governance. International Journal of Project Management. 32(8).
pp.1382-1394.
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