Discussion Question #1:

What types of risks are inherent in a project? Where do they originate? Can they be mitigated? Can you provide an example of how?

What types of risks are inherent in a project?

Risk and uncertainty are inherent in all aspects of a project and have a negative effect on the operating profit of the business.

Project risks include: business, contract relationship, cost, funding, management, political, and schedule risks.

Technical risks may involve the risk of meeting a performance requirement, feasibility of a design concept or the risks associated with using state-of-the-art equipment or software.