Work Breakdown Structure

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Work Breakdown Structure What is risk? In a project, risk is the uncertainty of the projects outcome. All projects will incur some sort of risk. In order to manage the risk a project plan must be developed with a risk analysis so that any risks can be identified early and a solution to potential problems can be address (Kendrick 8). By completing this process it can help the project stay on time and within budget with little affect to the outcome of the project. One way to understand risk within a project is to conduct a Work Breakdown Structure (WBS). This Work Breakdown Structure is a decomposition of the project into smaller components that will help the project be better understood (Kendrick 60). This planning process will allow for a team to see the different deliverables within a project and create sub deliverables to have it easier to obtain the end goal of the project. In a deeper dive of understanding how project risk is identified and planned for, the life cycle of a project must be understood. A generic project lifecycle will follow four sections. First part of the project will be starting the project. This is where the ideas are formulated to carry out to meet a goal. Next, organization and preparation will happen to lay out the guidelines for the project, this where the Project Management plan is created. Once the timeline has been produced the actual work is carried out for the project. This is usually the largest part of the project. Lastly, there will be a closing of the project. This is where evaluation will happen and deliverables will either me met or unmet (PMBOK 39). Projects should take into account the amount of risk that is associated with a project prior to beginning the project. Kendrick states in his book on Identifying and Managing Project Risk, that projects “without volunteers are risky” (61)

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