Risk Management Essay Example | Topics and Well Written Essays - 500 words - 3

Risk Management - Essay Example However, upon the end of implementation phase, closing a project becomes a necessary point. Closing a project requires careful analysis and often misunderstood from a project management standpoint. This paper will discuss some of the project closures that are challenging for project management. Often times in a project, expectations are not met that are defined in scope and the WBS. Thus, creating contingency strategies is pivotal towards executing a successful project. One of the most pivotal contingency strategy is to have a high incremental cost of resources. Resources are often less expensive when they are bought in bulk, but expensive if they are purchased incrementally. Hence, it is critical to have software and other resources purchased in bulk to avoid paying extra money. One of the biggest concerns for closing a project is the end the finer details of the store. This becomes more problematic the project does not achieve optimal results. This is where the project may fall. For instance, The Project Manager should produce confirmation from the Senior User or User Group that the final product or outcome of the project meets the acceptance criteria.   The fourth element of risk is user testing is one element that can be problematic, especially in an Agile environment. In every given WBS, user testing is defined in iterations. However, user testing becomes problematic given a final holistic approach of the project itself. Even in beta testing becomes problematic, which is definitely an issue because it obliterates quality in a project and creates chaos. Managing change request is another huge issue that project managers have to be well-aware off. This is problematic because change requests are part of any project management. In order to manage change requests, project managers must collaborate with stake holders in order to remove any unclear understanding that dictates the goals and the objectives of the project. Controlling change