The Main Factors of Risks in Business

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Table of Contents

The Main Risk Factors That May Hinder the Success of the Project
Information security
Business Tangible and Intangible Benefits

The Main Risk Factors That May Hinder the Success of the Project

Financial

Curve-R Company wants to put a supercomputing environment for its clients who use the R-language. The language will make accessible to its client through the internet. Putting up the infrastructure of the company may be quite costly. The project requires the use of supercomputers which can really cost the company. The amount of money that may be required is quite a lot for the completion of the project.

Technical

Setting up the project and attracting the targeted audience can be quite demanding. Technical difficulties cannot be that much because the project is at its initial stages. However, in the course of time, these difficulties are expected to surface gradually.

Operational

The number of staff is limited compared with the targeted clients. Dealing with client queries once the project is complete can be very tasking because of the limited number of staff in the company. As the number of clients increases, there will be a need to increase the number of staff to make operations more efficient.

Cultural

The company is based in Abu Dhabi in the United Arabs Emirates. The people in the project seem to come from the same locality. There is a need to integrate people from other regions especially the targeted groups. By doing so, the project will have a balanced approach.

Political

Political interference may be little because the project is aimed at assisting R-language users with a platform to work on especially for those who cannot afford the supercomputers. A possibility of political interference may arise in the running of the project once it proves to be profitable. This is because it is bound to attract interest from a number of people, among them politicians.

Information security

These are issues relating to the protection of information and information systems. Since the company is dealing with issues related to language platforms, there is a risk of unauthorized use, access, modification, disruption, or destruction of the systems and information. However, this may not play a major role in its initial stages.

Risk Impact/Probability Chart

Business Tangible and Intangible Benefits

Tangible Benefits

The project will reduce the number of offices, servers and supercomputers to be set up by the targeted client. These items cost a lot of money to set up, so the cost of setting up will be reduced. In case of institutions of learning or research, the space that was supposed to be used to set up the items will be used for other beneficial purposes. Maintenance costs of the servers will be reduced because the servers will be needed only in the company, the clients will access the service through the cloud computing environment.

Intangible Benefits

There are a number of intangible benefits of the project. The created system is flexible, it allows its users to create, install and use the packages and other flexibility functions that were missing in the previous systems. The system provides its users the ability to record their work effectively and store it in the virtual disk. The work can be shared and accessed by others and thus create a learning environment.

The user interface is simplified making the system user-friendly. The user can access the system anywhere and functions like connecting and disconnecting the engine can be done effectively.

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