Risk Management and Tqm
Course: PM104 – Strategic context of Project Management
Final Exam
Date Submitted: 10th December 2012
Course leaders: Prof. Vasileios Paliktzoglou and Mr Alin Stefaniu
Table of Content
Risk Management……….………………………………………………...…….…….3 * Case study analysis……………………………………………………….…....3 * Risk Management planning………………………………………………..….4 * Risk identification.……………………………………………………….…..…4 * Qualitative Risk Analysis…………………………………………………...….4 * Quantitative Risk Analysis………………………………………………...…..5 * Risk Response Planning………………………………………………………..5 * Risk monitoring and control…………………………………………..………6
Total Quality Management……………………………………………….…………….6 * Customer Focus………………………………………………………………....6 * Leadership……………………………………………………………..………...6 * Involvement of people……………………..…………………………………….6 * Process approach………………………………………………………………..6 * System approach to management……………………………………….……..7 * Continual improvement…………………………………….…………………...7 * Factual approach to decision making…………………………………………7 * Mutually beneficial supplier relationships…………………………………...7 * Barriers to TQM implementation…….………………………………………..7
References ………………….…………………………………………………..…….8
What are the processes of Risk Management? Explain your answer using a case study.
Risk Management
According to the guide to the project management body of knowledge (PMBOK guide) a risk is defined as an uncertain event or condition that, if occurs, has an effect on at least one project objective. Objectives can include scope, schedule, cost and quality. A risk may have one or more causes and if occurs may have one or more impacts. (Project management institute, 2008, p.275)
Risks can be further classified as known and unknown risks and the processes involved in identifying these risks and their impacts and how to avoid or minimize them is critical to the success of a project and thus can be termed as project risk management. It involves the
Final Exam
Date Submitted: 10th December 2012
Course leaders: Prof. Vasileios Paliktzoglou and Mr Alin Stefaniu
Table of Content
Risk Management……….………………………………………………...…….…….3 * Case study analysis……………………………………………………….…....3 * Risk Management planning………………………………………………..….4 * Risk identification.……………………………………………………….…..…4 * Qualitative Risk Analysis…………………………………………………...….4 * Quantitative Risk Analysis………………………………………………...…..5 * Risk Response Planning………………………………………………………..5 * Risk monitoring and control…………………………………………..………6
Total Quality Management……………………………………………….…………….6 * Customer Focus………………………………………………………………....6 * Leadership……………………………………………………………..………...6 * Involvement of people……………………..…………………………………….6 * Process approach………………………………………………………………..6 * System approach to management……………………………………….……..7 * Continual improvement…………………………………….…………………...7 * Factual approach to decision making…………………………………………7 * Mutually beneficial supplier relationships…………………………………...7 * Barriers to TQM implementation…….………………………………………..7
References ………………….…………………………………………………..…….8
What are the processes of Risk Management? Explain your answer using a case study.
Risk Management
According to the guide to the project management body of knowledge (PMBOK guide) a risk is defined as an uncertain event or condition that, if occurs, has an effect on at least one project objective. Objectives can include scope, schedule, cost and quality. A risk may have one or more causes and if occurs may have one or more impacts. (Project management institute, 2008, p.275)
Risks can be further classified as known and unknown risks and the processes involved in identifying these risks and their impacts and how to avoid or minimize them is critical to the success of a project and thus can be termed as project risk management. It involves the
References: Project management institute (2008) a guide to the Project Management Body of Knowledge, 4th edition. International organization for standardization (2012) quality management principles available at http://www.iso.org/iso/qmp_2012.pdf [accessed Dec 6, 2012] Chattered quality institute (2012), Total quality management available at http://www.thecqi.org/knowledge-HUB/Resources/Factsheets/Total-quality-management [accessed Dec 10, 2012] Al-Najarr, Jaward (2011) ‘ISO 9001 implementation barriers and misconceptions: an empirical study’ Vol.2 No.3 international journal of business administration [online] Available at http://www.sciedu.ca/journal/index.php/ijba/article/view/347 [accessed on Dec 08, 2012]