Identify and describe the risk quantification methods based on the PMBOK Guide – Sixth Edition Describe and assess qualitative risk assessment measures taken in the project as described in the case study
1) First part: The Recovery Plan Project Case
For this assignment, you will document the conceptual steps taken in the project described in the Portfolio Project Option 1, which you can access in the Module 8 folder. Note: This milestone builds upon those milestones completed previously.
Document the following in a paper:
- Identify and describe the risk quantification methods based on the PMBOK Guide – Sixth Edition
- Describe and assess qualitative risk assessment measures taken in the project as described in the case study
- Describe and apprise the steps taken in risk assessment and quantification (as outlined in the case study)
Submission:
- Include one current (no older than five years) scholarly source that is not a required or recommended reading for this course. This should be a source you plan to use in your final paper.
- Provide a minimum of a three page narrative by dedicating about a page to each of the three bullet points listed above.
- Format your paper according to APA format.
2) second part: The Final Project: The Recovery Plan Project
Read the Recovery Plan project:
Van Wyk, Bowen, Akintoye. (2008). Project risk management practice: The case of a South African utility company (Links to an external site.). International Journal of Project Management, 26(2), 149-163.
- Examine the project management issues detailed in the case, including those concerning procurement, contracts, and risk management.
- In no more than one page, give an overview of the case and the project management issues to be covered in more detail.
- Discuss, in logical order, the following topics: (Note: You must determine the logical order of these topics; this is part of your grade. See the grading rubric in this week’s folder.)
- Risk identification
- Risk assessment and prioritization
- Risk response for prevention
- Mitigation or contingent actions
- The fundamental conceptual steps used to respond to project risks
- The strengths and weaknesses of the project risk management practices
- In an appendix, identify the risks and categorize each one. (This categorization is left to you; however, you might include external risks, such as regulatory and currency changes, or technical risks, such as complexity or design.) You must discuss the appendix in the body of your paper. In other words, do not simply say “see appendix,” but rather explain what the appendix covers.
- Discuss the prioritization of the risks identified, their severity, and the management response strategies
Submission:
- Write a paper addressing the Recovery Plan project. Your paper should be full 10 pages in length, not including the required title and references pages and the appendix.
- Support your paper with a minimum of three to four current scholarly sources from the Library (no older than five years). This is in addition to any course textbooks or lecture material you decide to use. Of course, you may always exceed the minimum number of sources.
- Assess and critique the risk response strategies used and identify a minimum of three new recommended risk response strategies in response to the risks identified.
- Format your entire paper according to the APA format.
Pages 36, 37, 54, 55, 93, & 215 in Mastering Risk and Procurement
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International Trade Administration. (2016b). Letters of credit. Retrieved from https://www.export.gov/article?id=Letters-of-Credit-and-Documentary-Collection
Joshi, A. S., & Neumann, G. (2012, May 8). A primer for Alien Tort Claims Act. Retrieved from http://apps.americanbar.org/litigation/committees/businesstorts/articles/spring2012-0512-primer-alien-tort-claims-act.html
Kerzner, H. R. (2013). Project management: A systems approach to planning, scheduling, and controlling (11th ed.). Wiley: New York.
Lenaghan, J. M. (2018). Tort liability of school districts, officers, and employees. Retrieved from https://eric.ed.gov/?id=ED088234
Struett, M. J., (2016). American governance. In S. Schechter, T. S. Vontz, T. A. Birkland, M. A. Graber, & J. J. Patrick (Eds.), Vol. 3. Farmington Hills, MI: Macmillan Reference USA.
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