Implementation of a Property Management System

Having identified the risks and grouped them according to severity, the first trade-off the manager has to make is the decision to forego managing the less severe risks and focus on those which pose the most severe threat to the project. More significant risk may include risks which require the entire redesign of the project, whereas less severe risk may include those which cause little or no material changes to the project. Since the less severe risks are likely to cause little or no material changes to the project and use less resources, it is reasonable to trade-off these risks in favour of managing the more severe risks. On the other hand, these risks will remain and continue to pose a threat to the project, therefore they should be recorded in the risk register and dealt with as secondary risks. Risk response strategies should then be implemented to deal with both the severe and less severe risks which have been previously identified and analysed (Elkington & Smallman, 2002).

A project manager must be a skillful planner and can inspire his or her team to produce as needed. Per LaBrosse (2007), project management can be used throughout the organization to boost personal and collaborative productivity by building a standardized system that embeds best practices into the way projects are managed” (p.26).

When the manager of project carried out its work plan should take into consideration the possible risks that may occur within the project. The risk is the possibility that occurs a problem within a project and that may cause some change within the same (Heldman, 2011). It should be noted that not all risks are bad since they can be potential opportunities to make some changes that will improve the overall status of the project. In the same way a risk not taken into account in time can create one problem in the project and can completely change the final performance of the project. The project manager can take several elements to identify the risks. Some elements and documents that can be used to identify risks are: search internal risks of the project, such as resources

Project management is the performance based process focus on one o more deliverable. It is the process of identifying a problem or need coming up with possible solution, deciding on the best one and completing the project in a manner that is acceptable to

Project Management is the art of arranging, sorting out, spurring, and controlling resources to attain specific objectives. A project is a brief endeavor intended to deliver a unique product, service, attempted to meet extraordinary objectives and goals, commonly to achieve helpful change or included quality.

Define the scope of each risk posed – how bad would it be for the project and the organisation if the particular risk eventuated?

According to Doctor Talley slide on Project management and also in line with Jack Meredith & Samuel j. Mantel, project management was defined as “The application of knowledge, skills tools and techniques to project activities to meet the project

Project management is the discipline of planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives. It is often closely related to program management (Wikipedia).

The selected project manager is Chris HE.He is an experienced Chinese project manager and has plenty of experience in project management.In this project, his job responsibility is to manage, arrange and communicate with all project-related staff and to provide updates on the progress of the project to the sponsor weekly.His project management team consists of four experts, which are IT experts and a security expert, a building architect expert and a supporting staff.Chris will coordinate all resource needs through IT managers.And he has the right to approve all project-related budget expenditures, including budgetary allocations, but any additional funds need to give the application to the project sponsor OPAIC.

The following risks for the ISA project have been identified. The project manager will determine and

Identifying risks will involve the entire project team and will include an evaluation of all factors including the project management plan. Careful consideration to the project deliverables will be given when analyzing the risks. Analysis of possible risks have been prioritized by calculating the risk numerically from 1-10, from less likely to likely to occur and minor impact to severe impact to project success, respectively. A numerical rating is applied to the values of occurrence, outcome, and detection and then calculated to a risk priority number (RPN) to assess the risk to the project.

What is project management? Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. (PMBOK 2004)

Typically project managers focus on monitoring and responding to negative as opposed to positive risks. So we are now discussing about rest of the risks but considering the negative risks to prioritize them which help to focus on high- priority risks:

4.0 Discussion on execution of the three elements by Project Manager for the successful planning, resourcing and execution of a project.

Project management is a process of leading a team of capable people in planning and implementing a series of related activities that need to be accomplished on a specific date with a limited budget.