Project Risk

Project risk Name: Institution: Course: Course Instructor: Date Due: Risk management In the current word there has been increasing project failure rate. This reduces the trust of funders of the project and also the members of the community under the scope of the project, Persson (2010). This is due to unpreparedness by managers to reduce the effect of uncertainties in the process of implementing the given project. This may increase the cost of implementing the project and also increase the time taken to complete the project, Barkley (2006). Risk analysis, mapping and measurement techniques are important tools for project managers to increase the efficiency and effectiveness in management of projects, Palliyaguru, Amaratunga and Haigh (2010). As a manager in water projects, the following risks happened in our project. This made the company to improve its project analysis and planning in order to reduce the impacts of risk or bring them to minimal level. The following risks were part of our challenges to implement water projects: Workers strike Workers strike in various projects happen for different reasons ranging from poor salaries, poor working conditions, and mistreatment among others. In our case the workers strike was geared by workers asking for compensation due to the poor working conditions. This led to stalking of the working the project and other related damages. Through some short term, mitigation measures were taken to reduce the impact associated with the strike a lot of building materials went into waste and this increased the cost of completing the project, Barkley (2006). This in the long run affected the time to complete the project and of all in the increased money paid to the workers affected the project budget. This led to failure of the budget to meet the expenses to complete the project, hence asking for more funding to complete the project...