In week 4, we explore the project execution phase. Assessing project risk and developing both a contingency plan and a change control plan are critical elements of successfully executing a project. Realizing that there is no perfect plan, or an unchanging scope is critical for a project manager's success. A project manager must prepare a plan for managing changes; and it is important not to underestimate the magnitude of this effort as it is an ongoing part of most projects.
Respond to the following topic:
· How are the project risk factors assessed and managed in your organization? What would you recommend be done differently to mitigate risks?
· A project can have either authorized or unauthorized changes. Provide one or two examples that would fall in each category?
· Describe some of the common sources of change in a project by providing examples.
· While we most frequently focus on risks that have a negative impact on a project, there are also risks that may impact positively the project processes, objectives or the project outcome; in this case the project manager would want to take advantage of that opportunity. Provide one or two examples to illustrate a potential risk opportunity; maybe draw suggestions from projects in your organization.
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