(1) .Include all the cost factors such as resources that you are using, hidden costs, consultation costs, fixed costs, variable costs and the costs for project activities. BSBPMG522 assessment answers here.

.Consider the total timeline for the budget. For example, if your project is running for 3 months, include all the costs for three months.

(2)

a).Risk 1:

The first main risk related to this project includes complete crashing of ticketing portal due excessive traffic of users trying to buy tickets. Owing to the popularity of the musicians participating in the concert, it is expected that there will be huge rush of people trying to buy online tickets to the concert resulting in heavy traffic in the server.

Risk Management Strategy:

There should be alternate ticket purchase ways like offline ticket sales that can be sold through various counters around the country. This will reduce the rush and traffic for online tickets. Furthermore, there should be a feature where the additional traffic in the server will be blocked from entering the site unless the previous traffic clears. There can be an online queue system in which the online users can queue before getting access to the ticketing portal.

b).Risk 2:

Another possible risk in the breach of security attacks through the online media. The social media team may face this risk and this type of attack can steal personal information of the customers, confidential information of the company and others.

Risk Management Strategy:

The social media team should not deal with any kind of personal information and details of the users. Furthermore, the team should also have to no access to the company’s server as a precautionary measure against breach of security attacks.

c).Risk 3:

Financial risk is the most common risk for any type of project including this one. Due to lack of sufficient financial planning, the allocated budget may be used up before even the project is completed.

 Risk Management Strategy:

Before proceeding with the project, suitable budget planning should be done. Furthermore, project monitoring should be done in order to ensure additional expenses are avoided during the course of the entire project.

3).

4)

5)

Simply list the project activities and tasks in Activity/Task column, select an appropriate time interval (days, weeks or months) and allocate the duration using the other columns. Under the appropriate column,use shading from the Format/Cells/Patterns menus to decide on the duration.

Project Risks

6)

Draw a flowchart for your project based on the list of activities that you have within your project. Use the following basic symbols to represent your flowchart. (Delete the symbol picture if you need more space to fit your flowchart in one page)

7)

Use the following form with the project team to assess the project. Summarise the “lessons learned” for use in future projects.

Key Project Stakeholders Consulted:

For each Project Milestone or Phase, identify what worked, what didn’t work and ways to improve the process the next time.

8)

9)

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