Table of Contents

Raid Your Projects

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Risks

<aside> 🚨 Risks are potential events or conditions that can negatively impact a project's timeline, cost, or quality if they materialize. Effective risk management involves predicting potential hurdles and preparing strategies to mitigate them.

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Examples

Supply Chain Risk: The unavailability of critical components from suppliers could delay the product launch.
Market Competition: Competing products entering the market at the same time could reduce market share.
Technological Failures: Undetected bugs in software could lead to customer dissatisfaction and costly updates post-launch.
Economic Fluctuations: A downturn in the economy could reduce consumer purchasing power, impacting sales.
Regulatory Compliance: New industry regulations could necessitate last-minute product modifications.

Assumptions

<aside> 🤔 Assumptions are conditions believed to be true for the purpose of planning and strategy in project management. They form the base upon which projects are built, and their validity impacts the feasibility and direction of a project.

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Examples

Market Readiness: Consumers are ready and willing to adopt this new technology immediately upon release.
Supplier Reliability: Suppliers will deliver all components on time and meet quality specifications.
Project Timeline: The project timeline is accurate, allowing for a launch in the fourth quarter.
Budget Adequacy: The budget allocated will cover all development and marketing expenses until the product launch.