Someone gets hurt. The Reds aren't very deep - an injury to a frontline player would mean someone who should be in the minors will get a lot of playing time.
If Brandon Larson were hurt, for instance, Tim Hummel would be become the everyday third baseman.
The Reds are still working on fundamentals in late March. Manager Dave Miley wants to improve on the little things: bunting, base-running, defensive plays. But those things should be taken care of early in camp.
Danny Graves doesn't regain his velocity and his nasty sinker. Graves is expected to move back to the closer role, but his stuff dropped off after he was moved to the starting rotation last year.
If Graves is good as the closer, the bullpen figures to shape up pretty well.