Question

"Based on your experience in a project that you were involved or familiar with, what risk-related problems were encountered and explain ways by which those risks could have been mitigated or eliminated."

Answer 1

answer-

In a project ,there is always risks which we can encountered.The risks which were involved in project which i am familiar with is the implementation of new information system in the company.In this following were the risk-

Cost risk, typically escalation of project costs due to poor cost estimating accuracy and scope creep.

Schedule risk, the risk that activities will take longer than expected. Slippages in schedule typically increase costs and, also, delay the receipt of project benefits, with a possible loss of competitive advantage .

Operational risk includes risks from poor implementation and process problems such as procurement, development etc.

These risk could have mitigated if the project is properly planned. like proper budgeting of the project could have help in mitigating cost risk. also proper inquiry and inspection of new information system could have eliminated the operational risks.

so, risk are present in every project but company should predict those risks and try to mitigate them so that project can not lead to failure.