Problem
When planning a project, risk must always be identified and managed. Risk affects the probability and consequence of not meeting the project's objectives. The four primary types of risk in a project are: strategic fit, new service or product and the unforeseen design consequences that can occur, the ability to meet the project specifications, and poor design, communication, and planning.
1. For this discussion, research and discuss a real-life project (this can be a personal example or a researched example) and discuss how risk was or was not managed properly as well as the steps that should be taken when identifying and managing risk in a project.
2. Be certain to integrate the readings and research from the online library to support your opinions. You must cite your sources in text and include multiple references in addition to the textbook for your initial response and your replies. Be sure to review your writing for grammar and spelling before posting.
Addressing the following QUESTIONS:
1. Research and discuss a real-life project (this can be a personal example or a researched example). Your chosen projects cannot be any of those highlighted within the textbook chapters required for this module.
2. Identify the basic elements of the project plan.
3. Discuss how risk was or was not managed properly within the project.
4. Discuss steps that should be taken when identifying and managing risk in a project and examine if the necessary steps were addressed within the project.