The size of the project measured by investment (dollars, days of effort) and the probability the project will face particular risks greatly influences:

• the recommended (and required) formality associated with completion of each project phase;
• the number of advisory bodies
• the communication needs
• the technique used in finalizing requirements and product "look and feel"
• the required experience level of the personnel assigned or recruited to manage the project
• the required experience level of the personnel assigned or recruited as team members completing the project deliverables or outcomes
• when and how often the project approval body or sponsor must be consulted for approval to proceed

Information technology projects often involve the purchase of expensive equipment or software. If such products are new to the University, the project risk increases as shown by the project risk table.

Regardless of the investment required for hardware or software, the critical investment is the people whose skills are needed to produce the desired outcomes. The work effort and associated Human Resources (HR) budget must be considered when determining the approach to use to manage and complete the project.