As a project manager, how do you identify risks and how do you determine which risks are most important to the project?
Each project has a level of risk. However, there are some ways to avoid the risk or come up with strategies that will help the project to be completely accomplished. The characteristics of each project will help the project manager to identify and determine which risks may affect and impact the project objective. A good way to identify the risks would be the risk categories approach. By dividing the project in categories and assessing each one of them it would be easier to establish the level of importance and the potential impact. After identifying the risk, the project manager should be able to estimate aspects such as schedule delays, additional costs etc. and then establish the level of importance of each risk.
8-2.What is the use of a risk assignment matrix? How can this be ...view middle of the document...
8-3. How does project risk change as a project progresses? What changes are made to the risk assessment matrix as the changes occur?
Although the Risk Management Process is addressed during the ‘Execution’ phase of the project where the deliverables are produced, project risks may be identified at any stage of the project lifecycle. It should be important to identify the risks, but more important to be able to manage them during the life of the project. Here is when risk monitoring takes place. This process must continue for the life of the project because risks are dynamic. The list of risks and associated risk management strategies will likely change as the project matures and new risks develop or anticipated risks disappear.
Frequent project risk reviews repeat the tasks of identification, assessment, analysis, mitigation, planning, and allocation and also will create changes to the risk management matrix.
9-1. What are some ways you can obtain feedback from a customer after a project has been completed? How would you use this information?
With the customer feedback it is possible to collect data from customers about their perceptions and experiences. This information it is typically gathered either directly by the project’s team and can take different forms and cover a wide range of topics. Feedback is often structured and gathered via meetings but there are also other ways such us surveys conducted by mail, phone, or over the web. It is typically focused on aspects of the customer experience believed to be most critical to customer satisfaction and loyalty. The customer feedback can be obtained at different times, depending on the project’s characteristics. For instance is a customer needs to try a machine that was part of the project deliverables, the feedback will take more time to be obtained. The customer feedback will facilitate the team to analyze information that will be helpful for future projects and business relationships with same or new customers.