Risk Analysis Paper.

Essay by jacklyn1124University, Master'sA+, March 2004

download word file, 3 pages 4.3


JavaCom is a small, information systems consulting firm located in Meridian, Louisiana. JavaCom has just been hired to design and install a local area network (LAN) for the city of Meridian's social welfare agency. "A local area network (LAN) is a group of computers and associated devices that share a common communications line or wireless link and typically share the resources of a single processor or server within a small geographic area (for example, within an office building). Usually, the server has applications and data storage that are shared in common by multiple computer users. A local area network may serve as few as two or three users (for example, in a home network) or as many as thousands of users (for example, in an FDDI network)" (http://searchnetworking.techtarget.com). The objective of the project is to design and install a local area network (LAN) within one month with a budget not to exceed $82,000 for the Meridian Social Service Agency.

As the project manager, I will brainstorm potential risks associated with the project.

Risk Analysis Paper

Every project manager understands risks are inherent in projects; all risks cannot be eliminated. No amount of planning can overcome risk, or the inability to control chance events. In the context of projects, risk is the chance that an undesirable event will occur and the consequences of all its possible outcomes (UoP, 2001 p. 191). In other words, project risks can obliterate a project if these risks actually take place.

The chances of a risk event taking place (e.g. an error in time estimates, cost estimates, or design technology) are most in the concept, planning, and startup phases of the project. That is why it is imperative to foresee potential risk factors even before the actual project is implemented. By conducting meetings on a...