Project Managment Essay Example | Topics and Well Written Essays - 2000 words - 1

Project Managment - Essay Example Like other projects the Scantel project may have some risks involve on it. The purpose of this paper is to identify the risks that may cause delay on the completion of the project. Upon identifying it the paper will suggest on what strategy will be used to be able to overcome the risks. This will be a step by step analysis to evaluate clearly the risks that might happen along the way. At the end of the paper a conclusion will be presented showing the possible success of this project. The Scantel projects consist of a five major sub-systems: Lens and lens mounting; Vission support system; Display system; Control Logic System, and Chassis and body. The analysis will be done on the five major systems. Risk identification determines what might happen that could affect the objectives of the project, and how those things might happen. The identification should be comprehensive, as risks that are not identified at an earlier time may threaten the success of the project and cause unpleasant result. The process should be structured using the key elements to examine risks systematically. The identification can be done thru brainstorming, since it is the most effective and flexible way of identifying risk. The needed information in identifying the risk includes historical data, theoretical analysis, empirical data and analysis, informed opinions of the project team and other experts and the concerns of stakeholder. In the Scantel Project the diagram is presented in two ways; the full Scantel Network Diagram (Appendixt1) and the Simplified Network Diagram (Appendix 2). The event listings involve the step by step event that will guide the team in planning. A project manager will ensure the success of a project by minimizing risk throughout the lifetime of the project. One of the biggest problems teams face in risk management is their desire to be very precise in their probability estimates. But, because most probabilities are subjective, precision need not extend to the fifth decimal place. It is the facilitator's role to ensure that the team does not spend an excessive amount of time fine-tuning probability estimates. (Merrit, Smith, 2003). Probability risk needs to be assessed. The initial step in assessing the probable risk is to identify the possible risk. In Scantel Project the risks were identified in the five sub system: The lens, Vision support system, the control logic, Chassis and body and the display system. Based on the investigation they have done they were able to evaluate which among the sub-systems are on risk. The probability can be assessed by determining which among the risk will be highly risky that it will clearly affect the project. As what the investigation show among the 5 sub system the most critical event are the Lens. This sub-system involves events 5-38-43-44 (refer to Appendix 1). This is said to be critical because of the complex shape and a degree of curvature of no more than 0.0005 on the projected image that would be permissible if the system was to perform up to its intended design specification. The time frame is affected because the production of lens required high tolerance and it will undergo into a trial and error approach in the manufacture. The exact time to manufacture would be uncertain. Since the diagram shows dependency, it would be impossible to