Project Progress

[Course Title and Date]

Project Progress

The project that has been selected for the assignment is the construction of a Cinema. This paper basically highlights the progress of the project and it also purposes some suggestion to get the project done with maximum efficiency. This paper has discussed the two major threats that have occurred during the life cycle of the project. Moreover, this paper has analyzed the possible impact of those two threats on the project (Nieto-Morote, 2011).

Apart from mentioning the treats this paper also suggest some mitigation strategies to mitigate or avoid the possible risk that may occur during the project. Moreover, the impact of the threats on the budget is also discussed. Every project has some threats and some opportunities as well, so this paper also highlights the opportunities of the project and it also purposed the strategies about how these opportunities can be grab by the project manager. This paper has discussed the issues, and the opportunities that project managers have gone through in the project of construction. This is further elaborated by the issues and challenges faced by the project manager in attaining a significant level of efficiency through various perspectives (Nieto-Morote, 2011).

Top Two Threats

Threats are basically those elements that can influence the performance of any project negatively. Threats of a project are divided into two main areas. One is the internal risk or internal threat, and the other threat is known as an external threat or external risk. One of the major threats for the project is the change in the government policies regarding constructing a cinema. It is the external factor of risk. It is not in the control of the project manager, but this kind of threat can be mitigated through the negotiations and it can also be mitigated if the project manager completes the project with in the given time frame. Another impact of this threat on the construction of the cinema is the high cost (Nieto & Ruz, 2011). For instance government increase, the tax rate on the raw material which is used in the construction, it can disturb the budget of the project. This risk or threat can be avoided if the project manager purchases the raw material at spot prices from the supplier (Ochieng, 2010).

The second threat that the company may has to face is the lack of communication and coordination among the project manager and his or her team, this threat can be considered as the internal threat. The impact of this threat can be very serious on the project. If the communication and coordination among the project manager and his or her team are not good then it can affect the work break down structure. The whole work break down structure can be disturbed from this threat. Apart from that the timeline of the project also disturbs if there is a problem in communication and coordination. This threat has disastrously affected the whole project working; it should be mitigated as soon as ...