Project Risk Management 420 Week 6

1. Planning Risks: Inadequate time to plan, allocate resources and scheduling thoroughly for projects completions and budget parameters.

Working to understand the risks a project may endure along with the cost associated is critical in every project management plan. Understanding potential risks based on the project type, resources needed, timeline and budget still leaves gaps that creates uncertainty for actually predicating the outcome of the project. There is not a true way to predict when and where a project risk will occur but designing a plan to properly address and manage those risks will increase confidence while eliminating the element of surprise.

The device/equipment should be personalised to meet the individual's need and set up correctly. The individual and others supporting them should receive training on how to use the device. The individual should be supported to read and understand the instructions and to follow any health and safety advice on how to use the device correctly.

Equipment to be used – Before using any equipment it is vital you check the equipment is available, clean, in good condition, in good working order, the right piece of equipment for the activity you need to carry out as well as the right piece of equipment for the individual, the correct number of people are there to use the equipment and that you do not use any equipment you have not been trained to use.

Your Course Project milestone for Week 2 will be to develop your project sizing and stakeholder analysis.

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

Use equipment safely and follow any policies, procedures for work instructions. Making sure you have been trained to use the equipment before attempting to use it.

• Individuals: Comply with all standards, policies and procedures, use all equipment safely and responsibly, report all accidents.

Risks or failures associated with an inadequate understanding or inappropriate application of the skill, concept, procedure, or tool

First aid equipment availability- make sure everyone is aware of how to use emergency equipment in case of accidents

Hey Alex, Congratulation on graduating from Herzing University with your Bachelor’s degree in Criminal Justice and joining the law enforcement family as a Deputy Sheriff’s. As, I understand Alex, you just finished the Sheriff Department Training Academy and will be beginning your career patrolling the north end of the city on the night shift. Alex, some of the important things to remember when you are patrolling your area are citizen’s civil rights, defenses to civil litigation, the elements of managing risk on the job and how your decision could make a positive or negative impact in someone else life.

My partners and I have made a list of areas that might cause the project delays or failure with their respective outcomes. We have listed the risk below that can prevent the project to finish on time.

ABI is in a position of limited risk. The team put together has put pressure within itself in order to get a project done. The situation they face is an important part of the merger of the banking firms but for some reason FAFS has somehow delegated the risk to ABI. ABI has a capable team, but FAFS is taking the riskiest position in the transition.

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)

The completion of any project depends on the execution of various parameters mostly set at the beginning of the project. In order to complete the project to satisfactory levels, the project must be completed within the stipulated timelines, fall within the approximate budget and be of the required quality standards. However, most of the projects are affected by adverse changes and unforeseen events that occur during the execution period. Research shows that the magnitude of change is dependent on the size of the project, with large projects experiencing more uncertainties due to several factors including; planning and design complexity, interest groups having deferring opinions, resource availability, Economic and political climate and statutory regulations, which may necessitate change of plan. Most of the uncertainties are known to occur in the concept phase and if not intervened, they may affect the entire project. The burden falls on the management of such risk as some managers choose to ignore the uncertainties since they call for additional costs. Other inherent risks may go unnoticed and therefore remain unsolved,