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Risk is an uncertain event or condition that if occurs, has a positive or negative effect on meeting the project objectives related to components such as schedule (time), cost, scope or Quality.

Without a proper plan to handle the risk, the chances of project success are pretty limited

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14y ago

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Related Questions

Why are there project Managers in IT?

The question is very general. Project management process is required in every projects. in IT most of the projects are huge , doing by several employees, from several places, using different tools and also with huge budget. and The projects are supposed to deliver in high quality , So there should be a perfect project management needed for most of the IT projects. For doing this task project managers are there in IT . They will manage the entire project from planning to implementation.


What questions should be considered for projects?

When planning a project, it is important to consider questions such as: What is the goal of the project? What resources are needed? What is the timeline for completion? Who will be involved in the project? How will progress be monitored and evaluated? These questions can help ensure that the project is well-planned and executed successfully.


What are the functions of project planning?

A project plan should contain the goal and objectives and the steps to achieve them. The main function of project planning is to ensure success and save time.


What is processed planned?

Every projects need to be planned prior execution. A planning process may be defined as the development of goals, strategies, task lists and schedules required for achieving the objectives set for the business. The planning process is a fundamental function of management and should result in the best possible degree of need satisfaction given the resources available. Project Planning involves 4 important phases. They are: 1. Planning the project scope. 2. Planning the project resources 3. Planning the project schedule 4. Planning Quality and Risk Management Each of these 4 phases is equally important and have a significant impact on the success of the project.


Why should project managers be concerned about project schedule issues?

Communication


When should planning be done?

Planning depends on the Project you are into. Planning should be done in much advance before the execution of the initial Phase of the Project Starts. Planning should essentially take-into consideration of the factors like Unexpected Issues, Slight Deviation in the Estimates & Buffers etc. Taking an Example of a Testing Project, The Planning for Testing should start parallel with the Plan for Code Development or Once the URS/SRS are singed off.


If you are planning a long term project you should use a?

weekly planner


Name three soft skills and one hard skill that a project manager should possess?

There are many skills that a project manager should possess. Three soft skills these individuals should have include the ability to influence others, the ability to negotiate, and the ability to delegate. One hard skill that every project manager should have is strategic planning.


Is it important to do project planning How much time and energy should be spent planning the project Is planning important to an Agile project What are some of the dangers of not planning Of over?

Project Planninng: Planning is the primary process of anything. Project Planning is the Pre-requisite of any start of the project.This is the Initiation phase ,which is criticai to the success of the project.Effective project planning takes into consideration all aspects of planning including stakeholder engagement, benefits mapping, risk assessment, as well as the actual plan (schedule) itself. The three most cited factors for project failure are: •lack of stakeholder engagement, •lack of communication, and •lack of clear roles and responsibilities. These factors therefore, need to be considered very early on in the creation and planning of any project. Agile project planning: Agile management or agile project management is an iterative and incremental method of managing the design and build activities for engineering, information technology, and new product or service development projects in a highly flexible and interactive manner, for example agile software development. It requires capable individuals from the relevant business, with supplier and customer input


What the project manager should do to perform the planning function?

Any Project that needs to be executed has to be planned. Any tasks that was begun without proper planning and due diligence is almost always a failure. So, as a responsible project manager you have to plan your project properly to ensure that, your baby is a success. After all, which project manager wants to spend months of his time on a failing cause? Atleast, I don't … What are the Phases Involved in Project Planning? Project Planning involves 4 important phases. They are: 1. Planning the Project Scope 2. Planning the Project Resources 3. Planning the Project Schedule 4. Planning Quality & Risk Management Each of these 4 phases is equally important and have a significant impact on the success of the project. As Project Managers we need to put in dedicated effort to plan for each of these phases and as expected. Numerous activities need to be taken up by the Project Manager during planning to ensure that the Project is a Success


If you're planning a long-term project you should use a?

a milestone chart


If you planning a long term project you should use a?

financial planner or CPA

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