2. Take into account a new software development project and compare it to an event coordination...

2. Take into account a new software development project and compare it to an event coordination project, such as a concert. What likely forms of risk would your project team face in either of these circumstances?

Expert Solution

Several risks are bound to occur in developing new software products. such risks are mostly blamed to the software programmer developing the software product.

The risks incurred in the software development include budget risks, technical risks, management risks, schedule risks and other external risks.

Budget risks incorporate risks related to the product budgeting and financial difficulties.
Technical risks includes risks related to documentation and project codes.
Management risks incorporates poor working environment and less programming effectiveness.
Scheduling risks includes risk linked to improper project timing, and forecasting unforeseen circumstances which might impact the software development process.
Lastly, External risks incorporates changes in the market, technology and consumer needs.

On the other hand, event coordination processes are also bound to face major risks such as financial losses, injury to the individual involved in the event, loss or damage of property as well as the over-pressuring the event performers.

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