Task and Risk Management

Task and Risk Management
Tasks and Milestones
Milestones are important checkpoints or interim goals for a project. They can be used to catch scheduling problems early. The project manager plan will evolve so he should be flexible and update on a regular basis. It also helps to identify risk areas for project, for example, things that are unknown but will have to learn. These are risky because there may not be a good sense for how long the task will take. Or, you may not know how long it will take to receive components you purchased for a project. (W. & T. Chase, 2003).  
The specifics task and milestones required for your project plans
 Project accepted
 Hardware/Software installed
 Preliminary design/configuration
 Being able to make the first request
 Development/Training instances deployed
 Closing the testing period
 Going live
Risk is a combination of the probability of a negative event and its consequences. If an event is inevitable but inconsequential, it does not represent a risk, because it has no impact.   Alternatively, an improbable event with significant consequences may not be a high risk. These two factors are combined in what we experience as the possibility of loss, failure, danger, or peril.
An easy way to reduce risk is to have less ambitious goals. After evaluating risks, one can choose a path of risk avoidance or risk mitigation and management. If we understand the risks on a project, we can decide which risks are acceptable and take actions to mitigate or forestall those risks. If our project risk assessment determines risks are excessive, we may want to consider restructuring the Project to within acceptable levels of risk.
Risks that do not offer the potential for gain (profit?)should be avoided. Risks associated with achieving challenging and worthwhile goals should be managed. One way to reduce risk is to gather information about relevant issues to lower the level of... [continues]

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