Question

why is risk so significant that you have to monitor it weekly on an IT project?

Answer 1

Solution:

Risk is a critical part of any project management. There are multiple risks which are present in a project and these risks are constantly changing as per the external and internal factors as the project progresses. In an IT project which is very much susceptible to the changes in the environment, both the external and internal environment the assessment of risks is important. As a project is progressed the project manager should asses the entire project based on its completion for their risks and the risk management plans to mitigate the effects of these risks. Every new risk may be added and previous risks are dealt with as the project progresses and hence it is necessary to continuously gauge the risks and measure the impact which the risks can have and have contingency plans ready to manage these risks.

Hence, it is very essential to monitor the risks in an IT project on a continuous basis or weekly.