Tuesday, December 24, 2019

Case 3 Risk Management - 1037 Words

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 , â€Å" that it is†¦show more content†¦In order for a project to fully succeed, there needs to be set rules and guidelines. Setting guidelines teams will and must know what is expected from each and every individual. The risk management plan is like a template for an artist, when that template is traced over for so long, it is no longer needed. Whe n the risk management plan is implemented and analyzed effectively and efficiently, there should be hardly any room for errors, being prepared that errors that do occur seem as if they do not. In order for a project team to succeed the form of communication must be open by creating the bond for expressing ideas, and understanding ideas. The act of managing cost, time, and risk management is an essential part of all projects. (Fottler, Kloppenborg, McAfee, Nkomo, 2012). The technique of greatly executed risk management plan is an extremely strenuous task, but with perseverance, and dedication to the project team, all things are possible. Other ways that teams could maintain its current goal, planning, and execution is that they should be able to share any updates concerning the project as it occurs by staying in touch with every team member and that they are on the same page. Team members should encourage one another to follow up by making phone calls, through email communication this way each team member will interact with one another and this way there won’t be any miscommunication because without proper communication theShow MoreRelatedCase Study #3 - Risk Manag ement on a Satellite Dvt Project1542 Words   |  7 PagesCASE STUDY 3: Risk Management on a Satellite Development Project ! ! ! CASE STUDY 3: RISK MANAGEMENT ON A SATELLITE DEVELOPMENT PROJECT L.D. PROFESSOR: DR. JUANITA MURRELL ! HRM 517 MANAGING HUMAN RESOURCE PROJECTS ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! 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