A Research Study On Risk Management

1922 Words Sep 1st, 2016 8 Pages
Suggest the issues that could have developed had the team not had a risk plan. Determine the major impacts of risk that the team needs to understand for the project to be successful. After reading this case study, I’ve to notice so many poor decisions being made by this Satellite organization. The most noticeable issue was that they failed to plan initially. I noticed that there were unrealistic goals set, in which created a chaotic working environment. Because of this, the organization was bound to have nothing but an abundance of failure with this project and its success in the near future. As mentioned in the case study, the team faced many project failures. One being missed and overdue time standards, and then there is going beyond set financial plans.
While reading this case study, the project manager noted that there had to be a lot of research completed before coming up with a risk management plan. Before coming up with a realistic set of guidelines, the organization had to conduct a day to day core risk assessment. They did so by dividing the assessments up into team developed projects, in which eventually led them to the implementation of putting their procedures into place. By definition, risk assessment is a systematic process of evaluating the potential risks that may be involved in a projected activity or undertaking. The team had to identify, evaluate, estimate the main levels of risk involved in this project. Then they had to compare each risk against the…
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