WEEK 14 (20.JULY.2010) - PROJECT LIFE CYCLE

This week we are discussing about how to work on our Tutorial 5. For this tutorial we are required to do a risk assessment on our project. As what we have learnt in week 11, risk management, we are to discuss and do a brainstorm on the risk severity, probability and ranking those risks which we have derived from our WBS activity. Thereafter, we will be discussing on the impact, contigency plan and contigency cost of the risks.

Time for brainstorming gang!!!!!

Reflection: The project itself turned out to be a great learning experience for every member of my team, including myself. From our project, we are able to learn the risk analysis of running up to conceptionalisation of doing a mega project such as Annual Warehouse Sale (AWS). Of course, there are many risk involve in doing any project of this largescale. Therefore, we have to base on the fact and data gather to make an informed decision on the risk management affecting our project. We will analyse on the top ten risk applicable and later narrow down to the top two. This way we able to foresee what are the most prominent issue on hand and how to go about getting the risk identified and to reduce the impact to the project where cost are involve, which will in turn affect company bottomline.