one of the most important aspects of managing risk for a project is to accuratel
ID: 403606 • Letter: O
Question
one of the most important aspects of managing risk for a project is to accurately define the size of the project. Determine the criteria that must be considered to perform the project sizing and create one conditional factor with rationale. Suppose the size of the project was not determined correctly and a large, complex project was defined as a medium project instead. Predict the out come of the risk schedule of the risk management process within this organization. Include examples(ie the incorrect assessment) to support your prediction.
Explanation / Answer
well, it is a very important process to define the size of the company. The crieeria to ecide the same:
- no. of employees
- no. of products
-Size of product and services.
- Number of benificiary/clients
-Future scope or longitivity of project/company.
The risk in wrong identification is high.It may vary the quantity of resources.
the brand also is determined by the size.Also, the investors also look forward at the size of enterprise before investing.
Thus, the identification of the size is vital
eg. The company called Big bazar in India was classified as medium instead of large enterprise.So, it had its setback.Latter the mistake was corrected and its the leading brand in the country now!
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