Chapter 11: Project Risk Planning.
This chapter deals with identifying, assessing, and responding appropriately to all types of project risks. After completing this chapter, each student should be able to perform the following:
- Describe how to plan for risk management, identify risks, analyze risks, and create response plans for identified risks.
- Identify and classify risks for a project and populate a risk register.
- Describe various risk assessment techniques and tell when each is appropriate to use.
- Prioritize each risk on a project using an appropriate assessment technique and develop and defend at least one strategy for each of the high-priority risks.
- Compare and contrast the various strategies for dealing with risks.
- Determine an individual’s propensity to accept risk and use that to strategize about which risks to accept.
- Determine an organization’s propensity to accept risk and use that knowledge to strategize about which risks to accept.
- Select and utilize an appropriate quantitative risk analysis tool if qualitative risk analysis is not sufficient.
Chapter 12: Project Quality Planning and Project Kick-off.
This chapter is the last planning chapter. It covers project quality planning as well as baselining the project management plan and formally kicking off the project. After completing this chapter, each student should be able to perform the following:
- Define each core project quality concept and explain why each is vital in planning and managing projects.
- Explain what may be included in a project quality management plan.
- Compile a complete project management plan, including all parts covered in the last several chapters.
- Baseline your complete project plan in Microsoft Project.
- Describe the major contributions to contemporary project quality made by each of the quality gurus and by TQM, ISO, and Six Sigma.
- Kick off a project with effective pre-meeting preparation, a kickoff meeting, and documentation.
- Develop a quality-conscious approach to managing project activities and decisions.
Section:2/ APA format 300 words /Subject: Initiating the Project
Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.
Also, provide a graduate-level response to each of the following questions:
- You are hosting a large dinner party. What are two possible risks you would encounter? Identify at least one trigger for each.
- Give an example of a risk you have chosen to accept on a previous project. How did you make the decision to accept it? In retrospect, was that the right decision to make?
- In your own experience, have you seen companies integrate quality within their project planning processes? If so, how and when have they done so? If not, do you think it would have been more beneficial to address quality in one area of the overall project plan or continuously throughout the plan?
- Give some examples of common and special cause variation that you have witnessed. Which of these causes of variation can be addressed through continuous improvement?
Section:3 /500 words/ APA format /Subject: Initiating the Project
Risk Register Exercise
This week’s exercise will be to create a Risk Register for the Week 2 Business Case that you have utilized throughout the semester. Additional instructions are in the Word template.
You will complete the attached Risk Register in Excel. A risk needs to be identified for each of your six (6) Key Deliverables (this would be listed under the Category column). This needs to be a thorough, well thought out risk register which provides detailed thought and consideration. An example of the Risk Register is available in Exhibit 11.9 on page 370 of the textbook.
The following is a description of what should go under each column.
Risk Description: Identify the Risk associated with the Deliverable.
Impact: This is a narrative of potential impact if the risk should occur.
Category: This will be the associated Deliverable
Probability: This is a score of 1-5. A score of 1 would be if the probability of the risk occurring is very slight and a score of 5 is that is will almost likely occur.
Impact: This is a score of 1-5. A score of 1 would be the impact would have little impact if the risk occurs and a score of 5 would be catastrophic impact if risk event occurs.
Score: This is the Probability multiplied by the Impact.
Mitigation Strategy/Solution: This should be a detailed plan on how to either limit the Probability of the risk event from occurring and/or a plan to reduce the Impact if it does occur. This must include direct correlation to the scores assigned to Probability/Impact.
Attached excel sheet and RISK REGISTER EXERCISE
Business Case(week:2) (copy and paste):
Title Project Article #2: High Speed Train
News source (APA reference): Gourney, A. (2018, July 30). A $100 billion train: The future of California or a boondoggle? Retrieved from https://www.nytimes.com/2018/07/30/us/california-high-speed-rail.html
Web address: https://hsr.ca.gov/
Section:4 / 600 words minimum / subject: Strategic Decision Making
Reflect on what you have read in the textbook in Week 5 and then type a one to two page paper concerning the topics that you believed where worth your reading and understanding. What was the most valuable thing that you learned and why?
Note : chapters :5—
5.1 Identify and discuss eight characteristics of objectives and ten benefits of having clear objectives.
5.2 Define and give an example of eleven types of strategies.
5.3 Identify and discuss the three types of “Integration Strategies.”
5.4 Give specific guidelines when market penetration, market development, and product development are especially effective strategies.
5.6 Explain when diversification is an effective business strategy.
6.1 Describe the strategy analysis and choice process.
6.2 Diagram and explain the three-stage strategy-formulation analytical framework.
6.3 Diagram and explain the Strengths-Weaknesses-Opportunities-Threats (S W O T) Matrix.
6.4 Diagram and explain the Strategic Position and Action Evaluation (S P A C E) Matrix.
6.5 Diagram and explain the Boston Consulting Group (B C G) Matrix.