Thank you for taking the time to speak with me about the Project Manager Coordinator role. From our conversations, it is clear that Westfield Insurance has the energetic and hard-working environment I am seeking.
In a follow up email from Michele, it is my pleasure to provide you with additional details about my project management knowledge and experience.
Q: What does risk mean to you on a project? How have you managed it or how have the PMs I’ve worked with managed it?
A: Risk is a potential issue that may or may not happen if a project or phase of a project is launched or not, it is about taking a proactive approach to an issue that could impact the business in a positive or negative way.
Along side my boss, the Chief Information
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Without direction from my boss, he trust me I will find a way to fix the issue. For instance, last month our consultant and I designed and launched a new commissions program. Knowing this was subject to SOX compliance, I developed very detailed checklist, Gantt charts, and test matrix of before and after scenarios. With all areas in check, we received accounting approval to promote project to production. The following month I received a call from accounting, the issue was unknown with the new commissions system. Using my notes, I was able to quickly fix the issue and worked with our consultants to isolate the issue. Root cause was a one of our tables was set to false. Solution was quickly resolved. When managing an issue, feedback and two-way communication is very important in managing issues. Knowing the needs of the customer (internal/external) and being able to figure out the root cause of the problem is critical in resolving the issue. Documenting lessons learned, assigning actions, and scheduling time needed to fix the problem is essential for managing issues. I feel having a clear vision allows for a quick turn around when monitoring project results and completion.
Q: What is your experience creating a project plan?
A: I am very experienced with project planning. Every project I work on starts with creating a Gantt chart. I use my Gantt chart to track timing and deliverables needed during each phase of the project. When starting a
project data from work breakdown structures and schedules" and comparing it to "topdown project goals." After this, the teams are to estimate investment risks
Risk refers to any potential problems that would threaten the likelihood of success for or any project. These potential problems might prevent a project from achieving some or all of its objectives by increasing time and cost. Risk factors can even
This project charter is planned to help O’Donnell & O’Donnell LLP who will lead the project management team take place the parade smoothly. This parade for welcoming home troops will be organized in Colorado Spring which has a long history of military. This project charter’s goal is making sure project management team and sponsors understand all details and tasks of this parade and getting an agreement between these two parties. Some important tasks can be directed with the project charter. For examples, raising fund, arranging thousands of soldiers and planning a lunch
Risk or threat is common and found in various fields of daily life and business. This concept of risk is found in various stages of development and execution of a project. Risks in a project can mean there is a chance that the project will result in total failure, increase of project costs, and an extension in project duration which means a great deal of setbacks for the company. The process of risk management is composed of identifying, assessing, mitigating, and managing the risks of the project. It
Defined by Coopers textbook, risk is the exposure to the consequences of uncertainty and has two elements: the likelihood of something happening that has an impact on the project objectives, and the positive or negative consequences of something impacting the project objectives (Cooper, Grey, Raymond, & Walker, 2005)
In today's business it is in the best interest of companies to have project managers. Common sense isn't always easily accomplished. Anyone who's ever worked on a project in a technical setting knows this. Indeed, much of working with others consists of solving unexpected problems and learning from mistakes along the way. Knowing this and having the proper tools a project manager will be able to manage and complete the most intense project out there.
Project Risk Management – identifies potential risks (good and bad) that can affect the objectives of the project.
A major managerial challenge is analyzing project plans rendered in MS Project (or other software) and determining their chance of success. Rather than looking at the basic issues of a project, many managers
Risks are the potential events that may occur in the course of a project, and if they occur would adversely affect the project scope, schedule, quality and/or resources. Further, when risks occur they bring with them consequences. Conversely, risk management is the process with which risk management planning, identification, analysis, response and control is done on a project to mitigate its effects. The goal and objective of risk management is to reduce the chances and effects of adverse events to the project objectives.
1. Why is there a new or renewed interest in the field of project management?
Risk can be defined as “The possibility of a (negative) event occurring”. Risk and uncertainty go hand in hand. When you are certain about something that you do then there is less or no risk involved. There is more risk when there is uncertainty about a particular outcome and you still go for it.
Risk management has become an integral part of the world of entrepreneurship. Generally, risks are events that have negative effects on a business. Some of the risks can jeopardize businesses, while others can cause serious and costly damages, which may need time to rectify. Not all risks are bad. According to Heldman (2011) risks can present future opportunities as well as future threats.
Project risk is defined by PMI as 'an uncertain event or condition that, if it occurs, has a positive or negative effect on a project 's objectives '. A Risk can be virtually anything. It can be the upcoming implementation of an activity that has never been performed before and therefore the outcome or duration is very uncertain. It can be the potential loss of a key project personnel resource to another project. It can be the unknown status of funding from the customer side for an upcoming phase of the project. It can be the use of a new technology for the overall solution or for accomplishing specific tasks on the project.
To begin this paper, it is important to understand the meaning of project risk management and the various concepts that are involved in this knowledge area. The first part that companies should understand is the definition of the word risk. The term risk is defined as the potential of causing a negative effect on projects and cause delays. However,
The point that Kippenberger (2000) is making in his article titled ‘there’s no such thing as risk free project’ is that almost everything we do in a project involves a risk of some kind – by so saying, it is therefore essential that we are prepared or able to deal with risks. Most literature puts emphasis on the negative connotation that the word ‘risk’ carries. For instance, Chapman and Ward (2003) provide the meaning of risk as: hazard, chance of bad consequences, loss, and exposure to chance of injury or loss. Galway (2004) defines risk as an event which is uncertain and has negative impact, and similarly, Martin (2008: 38) defines risk as the ‘chance of something occurring that has an adverse effect on the project’. This negativity highlights the fact that problems can occur or things can go wrong and it is therefore important to have a systematic approach to managing them. Therefore in project management, risk management is necessary to increase the chances of the proposed project succeeding.