Emphasize product differentiation and unique features.

Accelerate the project timeline, potentially compromising quality.

Increase marketing efforts to generate pre-launch interest.

Partner with the competitor to avoid direct competition.

Implement mitigation strategies to reduce the probability or impact of the event

Accept the risk and its potential consequences.

Avoid the risk by completely changing the project scope

Transfer the risk to a third party through insurance

Ignore the delay and continue with the original schedule

Delegate the responsibility of managing the delay to the team

Crash the schedule by increasing resource allocation

Update the schedule, communicate changes to stakeholders, and adjust resources as needed

To identify potential risks and mitigation strategies

To track project costs and budget variances

To manage stakeholder communication and engagement

To visualize the sequence and duration of project activities

It does not require any historical data.

It provides only a low level of accuracy due to assumptions of similarity.

It is highly time-consuming and resource-intensive.

It requires breaking down the project into individual work packages.

Implement the AI tool immediately since it enhances functionality.

Stop the current implementation and shift focus to AI development.

Evaluate the request against the project's scope, timeline, and budget before making a decision.

Reject the request, as it was not part of the original scope.

To determine the total project budget by aggregating cost estimates.

To establish a framework for managing project costs.

To predict the financial resources needed for project activities.

To track actual project costs and compare them with the budget.

A team member working but not making progress proportional to the effort.

Adding extra features or functions to a deliverable without consulting the client.

Uncontrolled changes or continuous growth in the project's scope beyond what was initially agreed.

A project team member falling behind schedule but reporting they are on track.

Delegate the decision to the team responsible for that area.

Discuss the request with the stakeholder to understand its value and impact.

Immediately add the feature to the project plan.

Ignore the request and focus on the existing scope.

Iterations

Sprints

Cycles

Phases