Essay: Three Most Significant Risks –Project Management

18 Oct

Essay: Three Most Significant Risks –Project Management

Sample Essay

The three most significant risks among the many identified include lack or refusal by the project team members to cooperate, incompetency in the project management team and inadequate funds to cater for the needs of the project. To address this project, there is need to ensure that constant team building strategies are utilized through proper human resources management. Proper feasibility study should be conducted to ensure that the cost of conducting the project planning is fully and adequately estimated.

Funds should also be set aside to cater for any emergency that may occur in the process of planning the project (Frederick and Covello 1988). There should be constant collaboration and exchange of views by all the project stakeholders. Recruitment of competent and very skilled employees should also be done in order to ensure that the project team members and the managers have the required skills to deliver the target project goals.

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