Project phasing becomes important in the context of achieving the project’s purpose and its objectives stated by the policy. It gives information required to understand how to methodologically achieve the project’s purpose, what the project phasing process is, and which phases are typically involved in the project implementation life-cycle.
The process of putting a strategic plan of managing identified threats and exploiting opportunities into action is called the implementation of the risk management plan. Such a process may take many forms – this depends on the business culture of the performing organization, history of previous efforts, available resources, number of individuals involved in the project, and other factors.
A Risk Management Plan is a formally created and approved document that describes how the risk management process will be organized, what phases it will consists of, how it will be implemented, and who will be involved in the implementation. It is a roadmap for managing identified risks and exploiting opportunities throughout the project lifecycle.
Any project always generates a kind of challenge that makes the project manager find efficient ways to respond to various threats and uncertainties that may jeopardize successful project completion. Implementation of the risk planning process lets the manager to solve the challenge by planning for potential risks and developing solutions that reduce the likelihood of risk occurrence and mitigate the negative impact of the risks.
Performing quality control activities represents increasingly important concerns for project managers and planners. Quality control activities serve as a safety mechanism that helps prevent occurrence of defects or failures in project facilities and products. Poor implementation of quality control activities often results in very large costs because even with minor defects or deviations, project re-organization may be required. Increased costs and delays may result in customer dissatisfaction. In the worst scenario, defects or failures may cause personal injuries to project participants.
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