Risk Management on a Satellite Development Project

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Risk Management on Satellite Development Project Student`s Name Institution of Affiliation Abstract Project risk management is an essential aspect of modern project management practices. Projects always face the challenge of managing the constraints of cost, time and scope. Additionally, the quality of the project should be top-notch and adequate resources provided. Today`s project management approaches aim to optimizing performance for more efficiency because of the many variables involved. The risks associated with project management include not spending enough time planning and the risk of not running a thorough enough risk management plan. We are going to analyze the risk management approaches taken by Satellite Development Project and ways to improve the project`s risk plan. We will determine the impacts of risks in a project. We will also look the risk management in a broader scope and the best practices today. Here we can determine the methodology and techniques of assessing risks as well as the level of risk management appropriate for a project. Finally, we have to answer the hypothetical questions relating to the case study. Keywords: Project Risk Management, Project Implementation. Risk Management on Satellite Development Project Introduction Risks are inevitable when dealing with a project. It can vary from financial loss, accident or project failure as there are numerous ways in which a plan can go wrong. Additionally, even the most