George Selmeister Risk Identification P
Risk Identification Paper
George Selmeister
CPMGT/302
December 1, 2014
DARYOUSH TEHRANCHI
Risk Identification Paper
Scenario Three
Projects within an organization, like a tree, has grown and flourished immensely as time has passed. The roots of project management are deeply embedded into almost every aspect of our way of life. Each distinctive branch of any given project has opened doors and paved way for new growth and new ideas to better improve our already solid foundation of basic concepts of project management. Can a tree grow too tall or wide? At some point, should a tree be trimmed or cut back, redirected because of its interference with its surroundings? Though projects have significantly enhanced the social dynamic, enterprise and business, there are times that with its advances come risks that can either be positive or negative that call for a trim so-to-say. Like a well-kept tree, the project can bear fruit and/or beauty. It is without the care that this fruit becomes rotten, spoiling the very essence of its nature. Risk management is an ongoing process that continues throughout the project’s lifecycle. A risk could either be positive or negative in its nature. The positive risks can be seen as opportunities within the project. These opportunities could lead to new growth with the organization’s market, or even possibly grow the organization into a new market as well. The adverse risks within a project could be seen as a threat to a project that could hinder the project entirely. As a project manager, it is necessary to make sure that the risk management plan is in place and tailored during the planning phase of the project. In scenario three of the risk identification scenario worksheet, we see that the project was assigned to the project manager to better improve the product for the telecommunication company. A risk management plan could mitigate the risks identified in this scenario by applying a risk management process. The risk
George Selmeister
CPMGT/302
December 1, 2014
DARYOUSH TEHRANCHI
Risk Identification Paper
Scenario Three
Projects within an organization, like a tree, has grown and flourished immensely as time has passed. The roots of project management are deeply embedded into almost every aspect of our way of life. Each distinctive branch of any given project has opened doors and paved way for new growth and new ideas to better improve our already solid foundation of basic concepts of project management. Can a tree grow too tall or wide? At some point, should a tree be trimmed or cut back, redirected because of its interference with its surroundings? Though projects have significantly enhanced the social dynamic, enterprise and business, there are times that with its advances come risks that can either be positive or negative that call for a trim so-to-say. Like a well-kept tree, the project can bear fruit and/or beauty. It is without the care that this fruit becomes rotten, spoiling the very essence of its nature. Risk management is an ongoing process that continues throughout the project’s lifecycle. A risk could either be positive or negative in its nature. The positive risks can be seen as opportunities within the project. These opportunities could lead to new growth with the organization’s market, or even possibly grow the organization into a new market as well. The adverse risks within a project could be seen as a threat to a project that could hinder the project entirely. As a project manager, it is necessary to make sure that the risk management plan is in place and tailored during the planning phase of the project. In scenario three of the risk identification scenario worksheet, we see that the project was assigned to the project manager to better improve the product for the telecommunication company. A risk management plan could mitigate the risks identified in this scenario by applying a risk management process. The risk