What are some sources of risk in a systems analysis and design project, and how does a project manager cope with risk during the stages of project management?
Project Risks might arise from the use of new technology, functional users’ resistance to change, critical resource availability issues, competitive reactions or changes in regulatory actions due to the construction of a system, or team member inexperience with technology or the business area. Project manager should continually try to identify and assess project risk. The project manager should try to assess its probability of occurrence, understand its impact, and create a contingency plan. Risk mitigation plan should be created and project manager should share it with all the stakeholders at the beginning of the project. Project risks are inevitable but they should be managed well and each project should have a mitigation plan to deal with them. Project risk management stages are as follows:
- Risk Identification
- Risk Analysis
- Risk Response Planning
- Risk Monitoring and Control