Risks in Project Management Practice Essay Example | Topics and Well Written Essays - 1000 words

Risks in Project Management Practice - see ExampleIn reference to the given case study, this paper leave dwell on the risks that the emperor Phone guild stands a chance of facing during its product launch. Emperor is a renowned rambling hand go under manufacturing company, which competes on the global markets with key players like Samsung, Nokia among many others. It will as well give a detailed approach to the necessary steps that it will need to undertake to ensure that the launch of its myphone invigorated phone is a success. Lastly, it will highlight the impacts of its taken risks to ensure that it beats its bitter rival orchard apple tree in capturing the phones market to begin with its rivals launch their iPhone. Risk identifier register As per the case study provided, the Companys CEO acquired information that Emperors bitter rivals, Apple, were set to release a unused phone product. With this kind of information at hand, Emperor decided that it was going to utilize i t by evolution a product that would correspond to what their rivals intend to roll out. The launch date of its products is set for February 1, 2013 just a month before Apples iphone hits the market. Risk description In the project mandate issued, the counterbalanceborn risk involved would be legal due the fact that the two products would seem as though one imitated the other. This is because I and my have almost the same meaning. ... Secondly, the Emperor myPhone prior launch business leader also incur the threat risk of its secret leaking to its rivals. The managements idea of having keynote addresses by germane(predicate) stakeholders is also a risky move. This would be because they do not know where their guest speakers loyalties lie. There in, the information at the speakers disposal might find its way to their rivals. In this regard, Apple might use the information acquired to their advantage by making final detail im ratifyment on the iPhone before its launch. which may o vershadow the myPhone. Thirdly, the merchandise department will be in charge of the complete marketing campaign process including the venue. The opportunistic risk here would involve the location of the conference set to contain the myPhone target market. Probable date registered These risks were most probably likely to occur in the following sequence. The first and second risks were likely to occur after the myPhone had been launched in to market. Their impact was to affect heavily their anticipated sales, as they will not be able to restore the image of their product in the event that its composition is at stake. The third and most important risk that needed evaluation would be on the sidereal day of the product release. Therefore, its occurrence on the material day would translate to poor initial sale of the myPhone. This would set the bar in which the sales level would not be able to cross, as it the impact will be less. Probability, impact and expected value In trying to ma nage the risks above, the applications elaborated in Prince2 (OCG, 2009) would prove beneficial in eliminating the risks involved. This will involve critical understanding