Project Risk Management †Fluidity in Risk Planning Case Study Free Essays

Risk Paper 2 Project Risk Management- Professor Hurst Fluidity in Risk Planning – A Case Study One of the most important steps within a project is risk management because it plans for and responds to risks that impact the overall project deliverables including budget and timeframe. Risk management is used to mitigate risk in ways that align with each individual risk and its potential impact. During the risk management process risks are identified and defined and a plan to control, monitor and eliminate them is created. We will write a custom essay sample on Project Risk Management – Fluidity in Risk Planning Case Study or any similar topic only for you Order Now Risks from all areas are brought up during these brainstorming sessions of the risk management planning phase and are planned for accordingly. The work breakdown structure of the project is used as a guide when compiling a risk matrix that will identify potential risks, their severity and impacts. The case study in chapter 13 reflects two different risk response strategies with regards to the tender review process of a project’s deliverables. The first phase of the case study aligns more closely with a thorough and effective risk planning process plan while the second phase builds on the baselines determined by the first phase to generate a more solid and final risk assessment that will continue to be fluid throughout the project. Risk management is a crucial step of the project planning stage that continuously evolves throughout the project. During phase one of the case study this stage is considered a high importance and value step thus resulting in the proper planning of the risks based of off the WBS. The objectives of phase one are clearly identified and the intention to identify major risks of the project, which will be used as a baseline when comparing each individual tender to the project’s risk outcomes, is clear and all major steps to do so are taken. Step one of the creating the tender phase one case study calls for the â€Å"project structure to be reviewed with the project manager and key staff† and creating â€Å"an agreed risk WBS†. (Cooper, Grey, Raymond, Walker, 2005, p. 52) The first step calls for a meeting of all parties involved to review the WBS and start brainstorming on potential risks. This is a highly advised step because it allows for proper risk identification and mutual understanding of the risks amongst all parties. Phase one does a solid job identifying risks using human resources, quantifiable measures and adequate documentation. Phase two uses the outcomes of phase one as a baseline and works of off those when comparing each tender er’s offer to the risks and determining the impact the tender will have on each individual risk. Phase two uses the exact same process as phase one except it already has a baseline to work with whereas phase one creates the baseline. Both steps are highly regarded steps yet step two does a better job at identifying risks because it uses the baseline of potential risks and compares them to the introduction of a new major risk, the tenderer, while measuring its impact on the overall project. Phase two is the more solid one of the two phases because it demonstrates the fluidity of the risk planning process while quantifying each change to the baseline using the same approach as in phase one. The case study states that during phase two all â€Å"revised risk likelihood and impact measures should be converted to numeric scales and risk factors [should be] recalculated†. (Cooper, Grey, Raymond, Walker, 2005, p. 160) Thus phase two also does a better job at quantifying the risks because it compares each changed risk to the baseline and adjusts its ratings based on the proposed changes creating a more realistic understanding of the potential risk likelihood and impact. The case study was interesting because it showed the pre planning phase of the risk planning process. The pre planning phase was phase one because it created a baseline of assumed risks while phase two built on this fluidity and showed the impacts each tenderer would have on these risks. Essentially phase one of the case study directed phase two since phase two could not be completed without the identified baselines. Phase one was a simpler stage of the case study because it consisted of brainstorming and risk identification without taking into consideration the positive or negative impacts a third party would have. This does not mean that it didn’t plan for those as phase two was to follow once tender submissions were received. Phase two, however, had a more compelling assessment of risk because it had a map already outline and it just needed to follow it to arrive at the best possible location or situation. The first phase identified risk assessment formulas to quantify the risks; it created a baseline of risks and audit proof steps to follow. With those results in mind, the second phase was more concrete because it followed the steps set forth by the first phase, analyzed the impact of the actions of the tenderer on the baseline risks, assessed those, anked them and then assigned numerical values using the formula set forth in the first phase. These two cases are so much alike yet they are so different as well. They are alike because they use the same process to identify and rank risks but their baselines are different. The first case, phase one, started with a blank slate using the WBS to identify risks while the second case, phase two, used the baseline set forth by the first phase and used the WBS to e xplore new ways and their impacts on the overall project. Both phases of this case study are crucial in risk management projects and are enforceable whether a tender is requested or not. Risk management is a fluid process that calls for constant adjustments to achieve the best possible outcome with minimal if not zero interruptions of the project’s deliverables. This case study showed the importance of constant review of risks and the work that goes into risk avoidance and mitigation. Risk avoidance does not only occur during the initial phase of risk planning but it is something that project managers prefer to keep in mind with every step they take, whether this means hiring contractors, employees or support staff, each individual and their actions will impact the overall risk of the project, the question is how severely? References Cooper, D. , Grey, S, Raymond, G. , Walker, P. (2005). Project Risk Management Guidelines Managing Risk in Large Projects and Complex Procurements. West Sussex, England : Wiley and Sons. 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Letter to the author free essay sample

My Is Juan Pablo and I wanted to talk to you about your book. Really Impressive your way to SE the love that you have to the book show they are perfectly assembles to you. How their world is everything for you. How humans would be complete different with out them, no a utopia how it is shown in the book Here in the school I had the pleasure to play one time but since that day realized that Im the worst player ever so my dream had been broken but now I only laugh to the idea because and Ecuadorian guy could never be a famous baseball player.Now in these days I was trying hard to get good grades and to finish better the year because now I think that this is the most important. In the begging of the year I was a really lazy student so in couldnt make It to dont stay to summer school but now in summer school Im going to put all my effort on. We will write a custom essay sample on Letter to the author or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In this 2 paragraphs I could explain to you not even a small part of my life but I could tell to you that Im trying really hard to my future get better than the past that I had. The story Annihilates he seeing the football field alone and wondering the rang things that he have done so far.Suddenly he can back he start a fight with his roommates because he was mad of being kick out of the school. What he only gathers was a bloody nose and went out of the school of the city, since that we start seeing how he is as a person. Seeing it as the way as you wanted it this is perfectly rebind seen I been that world that I had ever try to get in this s Monet o f truth for all of us in the way of seeing it Since the beginning of the story we could see that holder is a offer guy, that he isnt dating the girl he wants.That he is a bad student, that he smokes and he drinks, that he have many problems at school so he decided to go back to new York city. There we seem that he dont know what much to do so he went to see his sister phoebe, their he imagines the kids going from the rye their I Imagine that even all the problems that he created all the anger that he have In his heart we can see that he stays Innocent that what he never become Is a phony go that Is what he wants and it remains.

Motorcycles Diaries Essay Sample free essay sample

Walter Salles’ movie. The Motorcycle Diaries. concerns the picks of two South American work forces. Ernesto â€Å"Che† Guevara and Alberto Granado on a physical and interior journey through South America. They were faced with taking between assisting the people of South America and looking after themselves as they scrape by throughout their parlous expedition. for illustration ; when Ernesto and Alberto meet the adult male near the side of the lake and they inspect the ball on his cervix and Ernesto is more concerned of the wellness of the adult male whereas Alberto is more concerned with kiping someplace and tells the adult male that it is nil when it is in fact a tumor shows that Alberto was taking junior-grade things over the public assistance of the people he was run intoing and the exact antonym for Ernesto. While the way they are taking through South America is clearly a physical journey. We will write a custom essay sample on Motorcycles Diaries Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page the accent is on the interior journey. which is shown through Ernesto’s picks through the journey. switching from assisting himself to seeking to assist everyone he meets. The inclination to utilize others to acquire by suggests deficiency of readying for the length and graduated table of the journey. There is a sense of defeat and annoyance that they are non traveling every bit fast as they want to be and the many bad lucks they have throughout the journey. There is besides a sense of realization as they come to detect that they may be holding jobs with their travels but the people they are run intoing are far less fortunate than themselves and demo Ernesto and Alberto that they are confronting much smaller jobs than the people they are run intoing. How has Salles conveyed these facets of the journey? The movie begins superficially and light but as the film progresses. it’s significance deepens and reveals the issues Ernesto wants to battle – poorness. eviction and homelessness. The narrative of letters. post cards and diary entries reveals the interior ideas of Ernesto and his transmutation through his experiences as he ventures through the enormousness of South America. Ernesto’s character becomes exposed as a compassionate and low adult male who is trying to assist the continent and focuses on the people he meets while Alberto is more focussed on the finish than the journey undertaken. The usage of geographical shootings ( set uping shootings ) shows the assorted landscapes and the transition of clip through the movie. farther achieved by the usage of a tracker demoing the day of the month. metropolis presently in and kilometers travelled shows the deepness and length of the journey. The usage of black and white exposure at the beginning and terminal of the movie demonstrates the abrasiveness and the consequence of the journey on the people within the movie and provides context for the clip period. In the flood tide of the movie. Ernesto swims across the river to fall in the lazars for one last dark which symbolises up the deeper significance of the journey – Ernesto’s efforts to bridge the spread of unfairness between healthy and ill. Finally. the usage of a hand-held camera during the scene in which the mineworkers who failed to be chosen for a calling and are tracking a mountain shows the audience the position of Ernesto and Alberto as they look out of their latest hitch-hike and authenticates the unsmooth and unprofessional mode in which they are going and shows that they were non prepared for their journey despite their â€Å"10 old ages of planning. †

Reasons for Legalizing Marijuana essays

Reasons for Legalizing Marijuana essays One question that has troubled Americans for a long time is: "Should the use of marijuana be legalized?" Some say yes, while others say, no. According to the Merriam-Webster's dictionary, marijuana is defined as "the dried leaves and flowering tops of the pistillate hemp plant that yield THC and are smoked in cigarettes for their intoxicating effect" (Merriam Webster 1). Owning marijuana has been a crime since 1937 when Congress passed the Marijuana Tax Act. However, the drug was still frequently used. Here we are years later, still without an agreeable answer to the question. Legalizing the use of marijuana would have many medical benefits, economical benefits, and would decrease the incidence of crime. There are others who disagree. These people feel that legalization would lead to the formation of other habits and to health problems, such as, the use of a harsher drug and to psychological and personality problems that can come from using marijuana. These individuals feel that the negatives of marijuana use far outweigh the positives, and feel that the use of marijuana should remain illegal. To some people, marijuana is considered a "gateway" drug. Legalizing marijuana would lead to the use of other, much more harsh drugs. From the book Drugs, Teens, and Recovery, Lauren, a teenager that got mixed up in drugs describes how she got involved with marijuana, then with cocaine. She says, "I was ten, in the fifth grade, the first time I smoked pot. I liked pot a lot better than drinking because it was easier. I loved it. Pot and alcohol, that's all I needed. I didn't want to get into anything else". She continues, "About this time, I started getting obsessed with cocaine and thinking about what the high would be like". Just like Lauren people can start off with just smoking marijuana but they would get the urge to try something a little bit stronger (Cheney, 46). Marijuana usage has many medical benefits. It becam...

Tips for breaking through the barrier - Emphasis

Tips for breaking through the barrier Tips for breaking through the barrier You probably have something in common with everyone else whos ever had writers block: you eventually got going. The problem is, that may well have been because your report was due first thing the next morning and the alternative was the Job Centre. But imagine if something other than blind necessity could break through that wall of fear. If only there was something you could do to stop yourself spending the entire night before the deadline writing in a cold sweat and submitting something substandard. There is, says Emphasis CEO Rob Ashton. The key is to make the act of writing seem less threatening. In the writing process there comes a tipping point where the pain of not doing it outweighs the perceived pain of doing it, says Rob. The key to overcoming writers block is to bring forward that point to now, rather than midnight before its due in. Try these strategies to help you break through the barrier and youll be finished before you know it. Trick yourself Its actually possible for one part of your brain to fool another that it isnt afraid, according to Mark Forster, author of Do It Tomorrow and Other Secrets of Time Management. Forster suggests using the technique of telling yourself, Im not really going to write the [piece in question] now, Ill just and fill in the blank with an easy beginning task. For example: Ill just launch Microsoft Word, or Ill just get the research folder out. This simple act can be a breakthrough. Once youve taken that first action, you will have got over the initial step, says Forster. You may well find that you are hardly even aware that you are moving on to take some additional action. Map it out Facing down a whole unwritten document may be sending chills down your back, but the process of getting on with it can easily be broken down into non-threatening actions. One of these drawing a mind map is also a useful tool to make sure youve covered every who, what, when, where and how. Know your reader The best writing knows its audience, and realising how much you do know about your reader is a great motivational tool as well as helping you to write a document that will do its job. Filling in a reader profile questionnaire is another safe as well as highly effective place to start. Work in bursts When breaking through the block, youll feel less overwhelmed if you know youre going to stop at a certain point. Set a timer with an alarm for a short period of solid work, followed by a few minutes break, then a slightly longer stretch of work and so on. The more stressed you feel about the task, the shorter each burst of work should be. Gradually increase the work time between breaks until you reach your optimal length of time generally this will be no more than about 40 minutes. Stopping at the alarm even in mid-sentence may actually give you the urge to return to your writing. The mind craves completion and will want to get back to the task, says Forster. This helps you to build up a strong momentum. Listen to the Audio Tips interview with Rob Ashton here. And find out whats going on in our heads when writers block strikes here.

Business law Assignment Example | Topics and Well Written Essays - 2000 words - 3

Business law - Assignment Example For Consideration To Be Valid, It Must Be Sufficient But Need Not Be Adequate. Explain This Rule and Cite Relevant Court Decisions 12 References 15 Question 1 Issue In relation to the case of Freda v Gullies Hotel, it has been observed that Freda has prosecuted legal charges against the management of Gullies Hotel due to the aspect of losing her money and expensive jewelleries from her room within the hotel premise. However, the management of Gullies Hotel has refused to accept the responsibility in lieu of their prior notice that â€Å"The Gullies Hotel and its Management would not be held liable for the safety of any valuable left in the guest's room. The Hotel has safe deposit boxes at the reception†. Rule In accordance with the scenario of the case Freda v Gullies Hotel, it has been recognised that the case involves the issue of loss of customer’s wealth within the time period while she was obtaining the organisational services. In this context, the case can be cons idered under the Vicarious Liability Law under the provision of UK Business Law (Tort Law) (Jones, 2011). The provision under the law constitutes a set of measures which can be taken a victim against the employers while they are found to be responsible for any loss faced by their customer while undertaking their services. The rule involved within the vicarious law includes different principles that ensure to protect the customers from any misconduct by the employers. Therefore, the law can be appropriately applied in order to mitigate the issue presented in the case Fred v Gullies Hotel (Jones, 2011). Application It has been observed that the case of Freda v Gullies Hotel can be applied to the principles and regulations under the Vicarious Liability Law. Therefore, Gullies Hotel can be sued based on significant legal charges made by Freda. The principles and regulations under the vicarious liability ensure to protect the customers in a scenario of losing their invaluable belongings while undertaking the organisational services. In accordance with the strict liability of the law, the management of Gullies is liable for the issue (Jones, 2011). Similar to the stated concern, Freda lost her money and expensive jewelleries during her absence in Gullies Hotel’s room that she booked. Conclusion With reference to the stated law and the case of Freda v Gullies Hotel, it has been observed that the event of missing of customers’ possession is regulated under the provisions of vicarious liability doctrine. Moreover, the prior consciousness related information cannot be applied as the customer was still under that service rendered by the organisation. In accordance with the principle under the Act of vicarious liability, the management of Gullies Hotel can be sued due to their culpable practice. In this regard, Freda can sue the management of Gullies Hotel and take appropriate legal steps (Jones, 2011). Relevant Case Example Olley v Marlborough Court [1949] The case of Olley v Marlborough Court [1949] can be considered as similar to the aforesaid case scenario. In accordance with the case of Olley v Marlborough (1949), it has been witnessed that the claimant found her fur coat theft from the hotel premise of Marlborough. However, in this case, it has also been observed that the defendant party i.e. Marlborough did not mention any prior notice regarding the probability of theft of the customer liabilities from the hotel pr

Introduction to International Business Global Marketing Assignment

Introduction to International Business Global Marketing - Assignment Example Furthermore, as the retail market of China is growing rapidly just as United States, so, the organization of Wal-Mart desired to penetrate Chinese Markets (Yates, 2013). The Chinese retail market is recognized as one of the most growing market, with estimated revenues of $ 860 billion in the year 2006. Moreover, it is estimated that the retail revenue of the Chinese market might increase to $ 2.4 trillion by 2020. This estimated attracted the world’s leading retailer, Wal-Mart to penetrate into the market of China as compared to others. However, it had to face wide range of challenges or risks at the time of penetration or expansion. These are stated as below. Customer Preferences: this is recognized as one of the most important challenge that the organization of Wal-Mart had to face at the time of penetrating the market of China. However, in order to mitigate the challenge, the organization decided to implement the strategy of ‘go-native’, i.e. local adoption. The organization of Wal-Mart decided to implement the taste and preferences of the local customers so as to attract a wide range of customers of varying income groups and cultures. For example: Wal-Mart decided to offer fresh foods for dining purposes so as to enhance the reliability and loyalty of the customers towards the brand (Gereffi & Ong, 2012). Culture: the organization of Wal-Mart adopts the local culture of China at the time of promoting the products so as to attract a wide range of customers towards the brand that might amplify its brand value and market share. Logistics and supply Chain: in order to mitigate the logistics and supply chain issues, the organization of Wal-Mart recruited a wide range of suppliers in order to attain the ingredients very easily (Gereffi & Ong, 2012). Economic risks: inflation rates acted as one of the biggest economic risk for the organization