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Sources of Resource Risks - Assignment Example

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Sources of Resource Risks

People as a source of risk may be defined as the risk of not meeting project requirements due to improper human resource management, motivational issues and fraud. It involves the project management having concerns about the availability of enough people to complete the project, availability from the staff of the necessary skills and experience and the belief in the project success by the staff.Some of the underlying concerns related to people as a source of risk include conflict among staff members and lack of or scarcity of certain required skill from the staff and the lack of essential collaboration due to unforeseen events such as job change by project-critical personnel, or lack of project-critical expertise.However, in order to avoid resource risks related to human resource, there is the need for proper planning and credible scheduling of the work well in advance. A histogram analysis of resource requirements will also prove to be of importance in identifying possible staffing.Outsourcing or supplier risks result from the use of people and services outside the project team. It accounts for more than a quarter of the resource risks. It includes delays such as when a supplier fails to complete an outsourced task on schedule.Some common resource assumptions which might eventually result to risks includes assuming that the supplier will provide correct materials when needed, assuming that resources will not be overburdened and that the sole-source resource will be available when needed. ...Show more

Summary

This essay describes that a risk may have one or more causes and, if it occurs, one or more impacts.” The need for risk analysis stems from the fact that every project plans includes assumptions. Resource risks happen when the resource assumptions about them are not true…
Author : giles95
Sources of Resource Risks essay example
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