Project Pitfall Analysis Essay Example | Topics and Well Written Essays - 500 words

Project Pitfall Analysis - Essay Example The risk management process is very important for smooth running of the concerned project. Generally a detailed survey of the market is not done which results in the facing of unidentified risk due to its wrong assessment. To overcome these barriers a few calculative measures have to be taken. The focus of risk aversion should be mainly to take up a level of project whose risk can be easily identified and acceptable; prioritize the alternatives of the risk attached to the concerned project; resourcing, selecting, planning and implementing the most appropriate course of action elected for the elimination of the risk; double check on whether the action plan thus formulated is working in accordance to the plan hatched and lastly a regular revision of the action plan keeping the present market conditions in mind (â€Å"The Risks and Risk Identification† 1). The inadequate project management capability can arise due to faulty selection of the personnel for the respective company. This can be overcome by appointing the right person at the right time for the right designation having the required qualification for the concerned post. As the incapability to perform in managing the project of the company generally arises out the lack of sound knowledge of that field. As said earlier that a project needs to have clarity before undertaking, thus the lack of it results in confusion and disagreements about the project responsibility. Confusion leads to disagreements which can be due to various reasons like goal conflicts which occur because of the end results attached to it along with clashes related to the objectives of the project and administrative conflicts which may arise due to the management structure and responsibility assigned related to tasks, functions and decisions. All these have a solution, the application of which will help overcome the crises. Firstly, developing a master plan with will be compatible for the application of the long term