Discussion post 2 - Risk Management Case Scenario

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School

Southern New Hampshire University *

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Course

FINANCIAL

Subject

Information Systems

Date

Jan 9, 2024

Type

docx

Pages

1

Uploaded by BLD9856

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Hi class, After reviewing the scenario, I believe there are a few major risks that David Smith and the team should take into consideration. One of the risks is the project scope being changed significantly from the original planned scope. Uncontrolled changes can disrupt a project tremendously and could lead to going over the budget, missing deadlines and potentially even project failure. The best way to mitigate scope creep is to ensure that the work is being done as planned, set project baselines to measure project performance and make sure to verify the scope and plan with all stakeholders. Another risk is project performance. This refers to the possibility of the project not being successful and not producing the results and or benefits that were outlined in the project. David should be on alert for performance risks that they could encounter early in the planning process and by doing so he may be able to mitigate them sooner. Lastly, David and his team need to make sure to stay within the budget. The ingredients that are being asked to be used in the new burger can become pricey especially since they’re all fresh ingredients. The price of organic ingredients can be significantly higher in cost compared to non- organic ingredients. To avoid going over the budget the project team needs to make sure that they speak to different vendors to compare prices and see if they can get some type of deal.
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