Risk Analysis for a Project

Risk Analysis 

Risk analysis is always important to estimate the success of the project irrespective the risks that can come across the project duration. In general any project include different types of risks and the possible risks that may come across this project are as listed below 

Change in requirements risk 

Change in the requirements can be considered as the major risk in this project. Once the requirements are fixed as per the proposal submitted, and while working with the project there may be chances, where I need to change the requirement due to some reasons like non availability of data, lack of sufficient knowledge or changes from the supervisor side. It would become really a tedious job to handle the changes in the middle of the project and meet the deliverables on time as per the project plan submitted. 

Communication risk 

Communication risk may occur due to lack of proper communication between the developer and the supervisor. If I couldn’t update the status of the project on time and failed to meet the deliverable dates, always I will get a delayed feedback from my supervisor and this would really kill the time and further affects all the deadlines irrespective of the work done till the date. 

Technical risk 

Technical risk may occur due to non availability of technical resources to develop the proposed application. As OPNET modeler is used to develop the simulation and if the license could not achieved, few models can’t be used to develop the simulation. This could be considered as the main risk in this project and if the tool is not ready completing the project and showing the simulation results is really impossible. 

Other risks 

There could be some other risks associated while doing this project like health issues, natural disasters and any other unseen circumstances and there is no define recovery plan to handle these risks. 

Risk Criticality Recovery plan 
Change in requirements risk  Medium Getting the requirements freeze before starting the project 
Communication risk  Low Communicating with supervisor on time with out any delay and doing the necessary corrections on time whenever the feedback is received 
Technical risk  High Getting the licensed softwares with the help of University 
Other risks  High NA

 This paper is written and submitted by sai

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