Project classification is yet another important process in the project lifecycle. Classification is important because generally as the project size increases so does the work effort and cost. There are also major impacts in regards to risk management.
For this assignment review each scenario below and consider how differently you would manage each project. Complete the following tasks:
Develop a matrix contrasting each project option based on project classification.
Discuss 3-5 risks associated with each project option.
Identify the highest risk.
Identify which project option, option 1 or 2, you would select to manage
Explain your choice.
