Transport and Management Projects Case Study Example | Topics and Well Written Essays - 1500 words

Transport and Management Projects - Case Study Example This makes the minimum time period for completion as 72 days and maximum completion of time period as 87 days The delay of 5 days in backing up of Atlas Web Site causes the decrease of float time by 5 days or increase of minimum and maximum time periods for the project to 80 to 90 days. The reason is the backing up of Atlas Web Site also is an individual task that is not done simultaneously with any other one. 6. Importance of Risk Management and Costing The importance of project risk management lies in anticipating and addressing the uncertainties. These uncertainties threaten the goals and time tables considered for the project. The questions of material and parts quality are considered in risk management. This improves the quality of the project. The delays in deliver of sufficient materials are minimized and this meets the project needs in time. The changes for budget and personnel are also minimized by risk management methods. The budget and personnel changes can be avoided by having completed knowledge and research. The delays in delivery dates and budget overages can be minimized as part of the risk management process. This involves the costing of the project also. The costing of the project is capable of estimating the project cost and probable increases if there are any delays. The increase in the cost can be minimized by minimizing the delays. As the delays are minimized by risk management and the minimizing the project cos t is done by costing the importance of risk management and costing is working on them simultaneously. This is possible by making the risk management process oriented. The risk management avoids having a successful project with an unsuccessful product. This means that the risk management takes into consideration the... The importance of project risk management lies in anticipating and addressing the uncertainties. These uncertainties threaten the goals and time tables considered for the project. The questions of material and parts quality are considered in risk management. This improves the quality of the project. The delays in deliver of sufficient materials are minimized and this meets the project needs in time. The changes for budget and personnel are also minimized by risk management methods. The budget and personnel changes can be avoided by having completed knowledge and research. The delays in delivery dates and budget overages can be minimized as part of the risk management process. This involves the costing of the project also. The costing of the project is capable of estimating the project cost and probable increases if there are any delays. The increase in the cost can be minimized by minimizing the delays. As the delays are minimized by risk management and the minimizing the project co st is done by costing the importance of risk management and costing is working on them simultaneously. This is possible by making the risk management process oriented. The risk management avoids having a successful project with an unsuccessful product. This means that the risk management takes into consideration the marketing also to avoid the failure product of a successful project.