647 W2A Project Selection Risk Essay Example | Topics and Well Written Essays - 1000 words

647 W2A Project Selection Risk - Essay ExampleFrom the perspectives of members of the mount up and the executive management team, the NLMS would enable and facilitate an increase in student population and enrollment. Through introduction to various sources of academic information and links that would be programmed in the GUs official website, to a greater extent visitors are expected to be enticed to apply to the universities varied programs and services.In every project, there are likely risks and bottlenecks that are inevitable yet manageable. As defined, a risk involves a source or face (e.g., some possible event), a mechanism by which the risk source could impact the objectives of the organization, and some take and type of potentially adverse consequences (Lee Merkhoff Consulting, 2014, p. 1). For the NLMS, the following are identified as potential risks and bottlenecks, specifically in areas which could affect or influence the achievement of the project objectivesFrom the table of potential risks, the degree and severity of event were appropriately identified. As shown, there were risks that were classified in seriousness from low to medium while likeliness is classified from low, medium to high. Cost overrun could occur in the implementation level, especially during the transition stage and while orienting potential users of the NLMS. Likewise, depending on the results of the performance monitoring and evaluation stage, any significant department of corrections or revisions that are needed would entail additional costs for GU. Thus, the risk of deviating from schedule would be high. department of corrections for actual plans is perceived to be medium in seriousness meaning, all relevant points were already foreseen and incorporate during the planning stage. As such, the likelihood for adverse corrections is low.Moreover, resistance from stakeholders is seen to be low since they