Project Management Paper

Select an organization you are familiar with as the basis of the paper.

Read the following scenario for the selected organization:

Risk involves uncertainty, the lack of knowledge of future events, and the measures of profitability and consequences of not achieving the project goal. Your organization has decided that to be successful in the global economy it must expand its supply base into China or another country approved by your instructor. This has become a strategic project for the organization.

Resource: Figure 11-4 in A Guide to the Project Management Body of Knowledge (PMBOK^®Guide)

Write a 1,400- to 2,100-word paper in which you address the following risk management items for this supplier global expansion project:

Describe the objectives and goals, tools and techniques, and organizational roles and responsibilities for effective risk management for the project.

Describe various information sources that may be used by the project team for risk identification.

Identify and describe the risk management documentation that will be required for the project. Examples include RMP and risk management log or register.

Explain the role of risk management in the project planning process.

Create a risk breakdown structure, which outlines the organization’s risk categories. See Figure 11-4 in the PMBOK^®Guide. Consider the following categories:

Project risks
- Business
- Contract relationships with customers and suppliers
- Management
- Political

Organizational risks
Project management risks
- Cost estimates
- Schedule estimates
- Communication

Technical risks
Production risks
- Manufacturing concerns
- Logistics

Support risks
- Maintainabilit
- Warranty

External risks

- Procurement
  - Material availability
  - Lead times
  - Quality

Market

Format your paper consistent with APA guidelines.

Risk categories. Provide a means for grouping potential causes of risk. Several approaches can be used, for example, a structure based on project objectives by category. A risk breakdown structure (RBS) helps the project team to look at many sources from which project risk may arise in a risk identification exercise. Different RBS structures will be appropriate for different types of projects. An organization can use a previously prepared custom categorization framework, which may take the form of a simple list of categories or may be structured into an RBS. The RBS is a hierarchical representation of risks according to their risk categories. An example is shown in Figure 11-4.

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Darden Computers and Software Company

Objectives and goals for effective risk management

Darden Computers and Software Company wishes to expand its supply base into China. The company anticipates increasing the supply base of computers and the related software into other markets like China. Before the organization can identify the risk management goals and objectives, it should have a shared vision and mission for the accomplishment of the project on the supply base expansion in China. This must be articulated then the goals and objectives defined. The goals and the objectives for effective risk management must be described in very simple terms that are to be accomplished by the project management…

APA

1917 words