Joe and his team have been given a fixed budget and a time frame for the development of a new product.The team's key concern is that the development is likely to overshoot the given budget and time frame.Which of the following categories of risk is likely to be faced by Joe and his team?
A)Strategic risk
B)Market risk
C)Internal risk
D)Credit risk

Question

Quizplus · Accepted Answer

Internal risks pertain to issues or challenges that arise from within the organization, such as project management, resource allocation, technology failures, and compliance issues. Given that Joe and his team are concerned about overshooting the budget and time frame, the development process is likely to be impacted by internal risks, such as poor planning, scope creeps, skills gaps, and communication breakdowns. Additionally, such risks can negatively affect the project timeline, morale, and cost, thus undermining the success of the project.

Joe and His Team Have Been Given a Fixed Budget