Case 3 Risk Management
1. Suggest the issues that could have developed had the team not had a risk plan.
The main factor for not completing the project is team failure which is because of poor overall initial planning. When there are unrealistic goals being set, creating a chaotic working environment there is bound to be nothing but pure failure of the project and its successin the near future. There can be two major causes for the team project failures; overdue or missed time standards, and going beyond set financial plans. With the interpretation of day to day basis risk assessments into team developed projects, there is a more realistic set of guidelines, and procedures put into place. The definition of a risk assessment states , “ that it is theidentification, evaluation, and estimation of the main levels of risks involved in a situation, their comparison against benchmarks or standards, and determination of an acceptable level of risk”. With set risk assessment techniques, the team may further eradicate all possible liabilities or future occurrences within the project team.
The essential of having a successful project management team is very important. Having strategic risk management techniques is essential. When planning a project team, it is sometimes strongly advised to think in a futuristic mindset by thinking of the “what if’s” how do’s, how comes, and planning out all the possible risks. There may be various explanations of the project team failures, including poor communication among the team, misconstruing of its shared facts, and unclear and uncertain positions. Also the roles and responsibilities of the team members. (Fottler, Kloppenborg, McAfee, & Nkomo, 2012). Without a clear sense of communication as well as instructions between the project team, it is virtually impossible to have a successful clear-minded team. Without clear sharing of information among the project team, there lies an opportunity for misinterpretation, and spreading false information. In additional
The main factor for not completing the project is team failure which is because of poor overall initial planning. When there are unrealistic goals being set, creating a chaotic working environment there is bound to be nothing but pure failure of the project and its successin the near future. There can be two major causes for the team project failures; overdue or missed time standards, and going beyond set financial plans. With the interpretation of day to day basis risk assessments into team developed projects, there is a more realistic set of guidelines, and procedures put into place. The definition of a risk assessment states , “ that it is theidentification, evaluation, and estimation of the main levels of risks involved in a situation, their comparison against benchmarks or standards, and determination of an acceptable level of risk”. With set risk assessment techniques, the team may further eradicate all possible liabilities or future occurrences within the project team.
The essential of having a successful project management team is very important. Having strategic risk management techniques is essential. When planning a project team, it is sometimes strongly advised to think in a futuristic mindset by thinking of the “what if’s” how do’s, how comes, and planning out all the possible risks. There may be various explanations of the project team failures, including poor communication among the team, misconstruing of its shared facts, and unclear and uncertain positions. Also the roles and responsibilities of the team members. (Fottler, Kloppenborg, McAfee, & Nkomo, 2012). Without a clear sense of communication as well as instructions between the project team, it is virtually impossible to have a successful clear-minded team. Without clear sharing of information among the project team, there lies an opportunity for misinterpretation, and spreading false information. In additional