- Published: September 19, 2022
- Updated: September 19, 2022
- University / College: Auburn University
- Level: Secondary School
- Language: English
- Downloads: 43
The EAC project is viable and is likely to run into specific risks that are not easy to factor into the project management. The same applies to the possible opportunities the project is likely to meet in its course. As such, the Gantt chart will lack the two figures, which are vital since the project managers must always be on the outlook for either the risks or opportunities since they both influence the success of the project.
Risks and opportunities are uncertain factors often considered by project managers but they cannot factor in either in the project (Roeser, 2013). The uncertainties in the two arise from the magnitude and nature of their effects on the project. As such, project managers can only anticipate risks and handle them based on the prevailing factors. In retrospect, project management requires a degree of versatility in order to enable the project managers to consider the two factors and change the nature of the project based on the influence of either the risks or the opportunities they face at various stages.
The Gantt charts alongside show project process. They illustrate the project schedule as different activities occur at various stages. In doing this, the charts show the relationship between the activities. Key among the activities shown in the chart is project preparation and the WBS activities. Additionally, the charts portray the computation of both the pessimistic and optimistic showing their expected start and end times.
