Address the importance of project risk management
Order ID:89JHGSJE83839 Style:APA/MLA/Harvard/Chicago Pages:5-10 Instructions:
Address the importance of project risk management
Address the importance of project risk management. Your response should include considerations pertaining to planning and identifying risks, as well as performing a qualitative risk analysis. Please also consider common sources of risk for information technology projects. To assist you in your qualitative risk analysis, consider the following case:
Most people are very familiar with the movie The Great Escape but may not be familiar with it as a project executed in the spring of 1944. The starting point for the project was in March of 1943 with the move to a new camp, the North Compound, created to relieve some of the overcrowding in the existing camp. From the outset the move to and taking up of brand-new quarters would cause confusion and provide new opportunities, and all sort of possibilities for escape.
Roger Bushell and the escape committee were faced with the conundrum of determining the best possible approach to an escape. They needed to balance variables like the availability of resources and the overall risk to the escapers and POWs in the camp.
In the East Compound the POWs had lost or abandoned at least fifty tunnels in a thirty-month time frame much to the dismay of the camp’s escape committee. This was a dismal and unsatisfactory track record, and POW morale was sagging very low. The escape committee (like a PMO) could prioritize the escapes that had the best chance of success. They could also determine the best Return on Investment (ROI) for the escape by analyzing the resources and risks for the escape.
Overall there were different types of escapes possible with varying approaches for example:
An unplanned and opportunistic escape, where 1 or 2 escapers take immediate advantage of a presented situation. For example, climb and hide in the back of a truck inside the camp. These opportunities were extremely rare and risky, and just to the immediate escapers and not the rest of the camp. In addition, the POWs had no time to prepare and would end up outside of the camp with no resources and equipment to continue the escape.
A planned escape, used once only, a throw away escape where the escape route would be exposed and could not be reused, for 1 to 3 escapers to get out. For example, finding a blind spot along the perimeter fence and cutting through the wire. This would be discovered within 24 hours and was a little less opportunistic and risky. The POWs would end up on the outside of the camp with resources and equipment to continue the escape.
Planned escape, reused several times, for 1 to 10 escapers, several escapes spread over several months, through a tunnel. There were problems in disguising missing POWs in the camp for more than a few days. Camp authorities would search with little let up. Continuation of the project would be very difficult. The POWs would have resources and equipment outside of the camp to continue the escape.
Planned mass escape, used once only, a throw away escape where the escape route would be exposed and could not be reused, for up to 250 escapers to get out. With many escapers the contribution to the escape would be significant, the pooling of a lot of materials and resources. The POWs would have good resources and equipment outside of the camp to continue the escape
Clearly, Project Risk Management was a major concern in The Great Escape project, so carry out the following exercises to identify and analyze the project risks involved. Preferably, work as a team to develop responses as though you were working in a Project Management Office (PMO) for this project.
Address the importance of project risk management
Identify how risk management should be practiced through each stage of the project.
Play out scenarios that recognize overall areas of risk, and then identify specific risks.
First, because it is simpler and easier to do so, complete a qualitative risk analysis for each specific risk you have identified.
Collect metrics that quantify each of these risks in terms of calculating the cost of impact of each risk, and sort in priority order.
Plan risk responses that are realistic, even though some have to be just simply accepted.
Paper requirements
- The paper should be at least 3 pages.
- Times Roman 12 point font
- Double spaced
- APA format reference citation
Address the importance of project risk management
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
You Can Also Place the Order at www.collegepaper.us/orders/ordernow or www.crucialessay.com/orders/ordernow Address the importance of project risk management