The Importance of Risk management

Threat management is hugely crucial to each and every project to identify all the prospective dangers. An uncertain occasion or set of circumstances if it occurs, will influence the achievement of the project objectives, which could be detrimental to the project success. “Risk management is the process of identifying, assessing and controlling threats.” Our project had numerous threats, so I decided it was important to generate a threat assessment identifying what our threats had been, why it was a issue, what we are doing to prevent it, the likelihood of it occurring and the severity of the risk if it occurred. A significant problem that I did discover with the risk assessment I produced is that I did not take into account the consequences and how to deal with a threat becoming reality. Hunting at APM’s risk process model, it is clear that my threat assessment is lacking the stage of planning our response to the dangers occurring. 1 of the risks I determined was potential technical troubles. Technical troubles typically take place in projects and was definitely a threat to our group using Prezi presentation. I had never ever used or even heard of this software program before, and as wonderful and visually appealing as I believed it was, I was concerned about how time-consuming it would be to find out utilizing Prezi as opposed to utilizing Microsoft PowerPoint, a platform I am extremely confident navigating. Nevertheless, understanding the danger, I regarded as it important to discover something new, and soon after spending considerable time on Prezi, I swiftly became confident in employing it. I am glad that our team didn’t let this risk detour us from using Prezi as it was very well-liked at the exhibition and enables us to stand out. In this case, I discovered that taking a threat paid off and I will continue be use Prezi presentation in the future.

General, I can say with faith that I think our project to be a achievement. I have measured this by my group’s achievement criteria of: creating all essential deliverables, meeting deadlines and positive feedback at the exhibition. I was delighted that our group won the very best poster at the exhibition as it was a correct testament to our person creativity and cohesive teamwork. I was really fortunate to have worked with such a great team, all regularly operating tough and supporting every other throughout the project. I was pleased with how we showcased our exhibition and pitched our tough function with passion. I believe my input to have been to a higher common matching that of the rest of my team.I will take so a lot theory from this module into my placement year and future profession, as taking element in projects and
project management is portion of every distinct business of enterprise, enabling me to apply my new-found expertise with confidence. Writing my this ICR enabled me to reflect enabling me to move from experiencing to understanding. Self-reflection aids me recognise the progress I have produced, whilst permitting me to contemplate improvements I could potentially make and what I will take with me in the future.