Risk!!! Beware...

In project development not only the Project Management should be consider. Also the risks that is associated with it and ways to manage those risk. Let me define risk first. KEEP IN MIND

RISK... can be defined as “the threat or probability that an action or event, will adversely or beneficially affect an organization's ability to achieve its objectives”. In other words risk is ‘Uncertainty of Outcome’, either from pursuing a future positive opportunity, or an existing negative threat in trying to achieve a current objective. So how this will be treated? It defends on you of how will you manage those risk. You may avoid them or you may bet with them...

As far as my course going, the PROJECT MANAGEMENT in STI College Lucena. We have this word RISK as our latest topic. Our professor gives us fluent definition of this. Then he gave us examples of these risks. As I learned in that discussion, RISK is really associated with Project Management, Yeah... Why?... Coz two main issues in the Project Management are risks. What was them? The Time Scheduling and Budgeting.

Risks I had remember in my course Discussion

• Time Scheduling - Consider this risk as must, neglect of time can lead to unfinished projects or doesn't make guarantee and satisfaction.
• Budgeting- Don't take the risk of spending lot of money in the development, think of other risk related with it. Project can be expensive but must be worth it.

As DLM Research Group continueing the development of website Online Business Directory of Lucena City, a online yellow page of businesses based in Lucena City and Province of Quezon, known as Lucenabiz Directory (Lucena Businesses Directory), I as the group head had experience different risks.

Online Business Directory of Lucena City development Risks

• Skills - I as a COMPSCi student, I know doesn't have enough skills in developing websites. I know HTML lil cause i had taken seminar ones and that helps me to take this risk. Good that had and taked seminar on CMS that gave me a boost to grab Lucenabiz.
• Groupmates - This one is related with the first one, as I relate. At first, we had meeting of what role of each of us should be. We derived that I will be the lead developer, my job is to develop the websites functions, my other groupmates said that he will be the documentarist, and the other one take the graphics management. Yeah that was good that we have our own task but, for me it doesn't right that each of us will stick to what we already know. Then I decided to change the role, each of us have different module to work for. The risk here is about the study, not about the project. We'll going to finish the project yeah, but member's willn't have the experience to develop with the technology used.
• Project Management - AAHH!!! This is a risk. Damn this lead is to prons and cons. For prons see this: http://ittribe.blogspot.com/2008/09/project-management-is-must.html. Cons: Read Below.
  

So how will this be treated? Each of us must know the RISK MANAGEMENT.

What is RISK MANAGEMENT?... Can become a process of identifying the negatives of why a decision or action/opportunity should not be taken which leads to opportunities not being pursued. Risk management is not a process of completely avoiding risk, but more a process which if used effectively can help pursue innovative opportunities with higher level of risk, because exposure to risk is understood and managed down to acceptable levels.

Wew... So this will be the end of my article thanks for reading...
You can visit our site @ http://www.lucenabiz.com

Morfs