Risk in plain terms is a possibility of something bad occurring due to internal or external factors. For every project, there is always a significant probability that things might go wrong or not turn out as planned. This is especially true of web application projects.
Four risks that could arise in a web application project are as listed below:
- Underestimation of time and commitment level required to successfully execute project - It's not uncommon for project managers to miscalculate the requirements for a web application project, consequently resulting in a failed project later.
- Change of project requirements due to new business rules - Web application projects operate on a business logic that is constantly changing. This poses a major risk because a change in business rules can impact the project positively or negatively.
- Uncertainty of User Acceptance remains a major risk in any web application - While web application developers try their best to build successful products based on market demands, there is a risk that the market will not accept the product.
- Unforeseen Security Challenges can significantly increase project costs beyond what was initially projected - Web based applications and service running on the web is prone to hacking and data breaches. This presents a huge risk as any compromise can be detrimental to the success of the project.
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