Assume that you are a project team member for a highly complex project based on a new technology that has never been directly proven in the marketplace. Further, you require the services of a number of sub-contractors to complete the design and development of this project. Because you are facing severe penalties in the event the project is late to market, your boss has asked you and your project team to develop risk mitigation strategies to minimize your company’s exposure. Discuss the types of risk that you are likely to encounter. How should your company deal with them (accept them, share them, transfer them, or minimize them)?  Justify your answers. There is no unified answer. You can describe your opinion via an detail example.

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There are so many ways to mitigate the risk in any project Now going to discuss some of them below 1 ... View the full answer