29 Dec Describe project risk strategies

Unit I Article Review

Using the CSU Online Library, locate an article that discusses project management through organizational processes and efficiencies. This could include project scope, project constraints, stakeholders, global project management, or anything associated with the project management process.

Note that these are simply ideas; please expand upon the topics within the scope of the management of organizational efficiencies. Chapter 1 of the textbook will also provide additional ideas for topics.

Respond to the writing prompts below.

1. Explain how the topic of this article relates to project management.

2. Analyze how project management brings efficiencies to a project manager and ultimately the company.

3. Describe how this article uses project management concepts to more efficiently complete business projects.

4. Explain how constraints within the business could lead to performance issues with respect to successful implementation of project management concepts.

Your response should be a minimum of two pages in length and be double-spaced. References should include the reference for your article of choice and at least one additional credible reference. All sources used must be referenced; paraphrased and quoted material must have accompanying citations and be cited per APA guidelines.

Unit II Assignment

Course Project Proposal

For this assignment, you need to create a project proposal based on a fictional project. Review the Unit II Lesson for additional insight on the purpose of a project proposal and for assistance in compiling a project proposal. You may base your project on one of the following topics or a topic of your choice approved by your professor:

training seminar,

construction project,

department retreat,

new product development,

software development project, or

other.

When you create the proposal, you should take into account the technical considerations, management considerations, and pricing considerations. However, you do not necessarily need to include these within your project proposal, as you will be performing a more extensive project later in the course. As for now, follow the model of a simplified project proposal, which will include the following sections:

Statement of Customer’s Needs: Communicate customer needs that will be fulfilled through this project.

Assumptions: Identify and briefly explain all assumptions associated with this project.

Project Scope: Explain the project using specific details as it fulfills customer’s needs.

Deliverables: Include specific deliverables expected by the completion of this project. This should include an analysis of the measures of performance.

Resources: Identify resources necessary to complete this project.

Schedule: Include a schedule that has real dates.

Price: Establish pricing strategies.

Risks: Identify the risks associated with the completion of this project. This should include an explanation of risks and rationale for continuing with this project. An analysis of the measures of performance through a look at the context of triple constraint should be reviewed in the risk section

Expected Benefits: Clearly identify the benefit to be received by the completion of this project. This should include an analysis of the measures of performance.

Your proposal should be a minimum of three pages in length, and each section should be properly labeled using the subheadings above. If another person were to read your proposal, he or she should know exactly what is expected and what direction the project will take. This should be a general document with the intent of providing more details on these sections during Unit III and Unit VI.

Make sure you use appropriate APA-style writing and citations as you create your proposal. Also, make sure that you use 12-point Times New Roman font and that you double-space.

Unit III Assignment

Refer to the project proposal you created for the Unit II Assignment. For this assignment, you will be expanding on that project to include a project scope document (i.e., the definition of what needs to be done to produce the project deliverables and to satisfy the customer). The project scope document should satisfy the following components:

Customer Requirements: Describe the customer requirements through functional or performance specifications of the project’s end product/service.

Statement of Work (SOW): Explain the SOW including the work elements and milestones to be performed. This should include risks associated with the project.

Deliverables: Formulate a schedule of the deliverables including milestones throughout the project and the final deliverable at the conclusion of the project. Compile a Gantt chart (instructions and example are included within the Unit III Lesson).

Work Breakdown Structure (WBS): Describe the WBS that breaks down the work elements in the SOW into specific work tasks.

Acceptance Criteria: Develop and build upon the acceptance criteria discussed briefly in the project proposal.

While project scope documents may vary from project to project, your document should contain a thorough description of each section. Additionally, please include an introduction paragraph. If your project varies in such a way that a thorough description is not possible, you will then include elements of the section in question to give an outline of what is provided. See the Unit III Lesson for additional insight on compilation of a project proposal.

Your project scope document should be a minimum of three pages in length, and each section should be properly labeled using the subheadings above. If another person were to pick up your document, he or she should know exactly what is expected and what direction the project will take.

Make sure you use appropriate APA-style writing and citations. Also, make sure that you use 12-point Times New Roman font and that you double-space.

Unit IV Case Study

Case studies are an important learning strategy in business classes because they provide an opportunity for you to critically analyze events that have taken place in real-life businesses. This develops your critical thinking and research skills as you research the competition and industry in which your business resides with an end goal of formulating a recommendation for the challenges faced by the company.

Read “The Bathtub Period” case study on pages 544–545 of your textbook. As you complete the analysis, address the following topics, and integrate researched evidence within your responses.

1. Describe the situation within this case from the standpoint of effective project management.

2. Prepare a network diagram that demonstrates your recommended work sequence for the Scott Project. (See the Unit IV Lesson for additional insight on the compilation of network diagrams.)

3. Explain the risks involved with this strategy and potential work-arounds.

4. Identify two scheduling techniques that might be used effectively for this project with the advantages and disadvantages of each.

In formatting your case analysis, do not use the question-and-answer format; instead, use an essay format with subheadings. Your APA-formatted case study should be a minimum of two full pages in length (not counting the title and reference pages). You are required to use a minimum of three academic sources that are no more than 5 years old (one may be your textbook). All sources used, including the textbook, must be referenced; paraphrased material must have accompanying in-text citations. A minimum of three in-text citations are required.

Unit V Case Study

Case studies are an important learning strategy in business classes as they provide an opportunity for you to critically analyze events that have taken place in real-life businesses. This develops your critical thinking and research skills as you research the competition and industry in which your business resides with an end goal of formulating a recommendation for the challenges faced by the company.

Read the “Franklin Electronics” case study on pages 545–546 of your textbook. As you complete the analysis, address the topics below.

1. Explain the earned value measurement system and whether you believe that Franklin Electronics truly understands it.

2. Analyze the cost projections completed by Franklin Electronics. Reconstruct the cost projections toward the compilation of a realistic project budget. Include a theoretical discussion around the steps involved in the budget that you built.

3. Create a project management schedule that would be more effective than the one proposed in the case. Use scheduling techniques learned in this class to date. Include an assessment of why you selected this scheduling technique instead of others.

4. Evaluate sources of project risk, and develop strategies that would decrease the impact of these risks.

In formatting your case analysis, do not use the question-and-answer format; instead, use an essay format with subheadings. Your APA-formatted case study should be a minimum of two full pages in length (not counting the title and reference pages). You are required to use a minimum of three academic sources that are no more than 5 years old (one may be your textbook). All sources used, including the textbook, must be referenced; paraphrased material must have accompanying in-text citations. A minimum of three in-text citations are required.

Unit VI Article Review

Using the CSU online library, locate an article that discusses project management today. This could include conflict resolution and negotiation skills, project budgeting, risk planning, project scheduling and resource management, or the monitoring/control of projects. Think about these ideas and questions when compiling your article analysis.

1. After examining the article, summarize the overall concepts within the article.

2. Discuss the author’s perspective with respect to project management.

3. After reading this article, along with knowledge gained in this course, what is your opinion of the role of project management within an organization, and ultimately, of the project manager as it relates to completion of the project?

Your response should be a minimum of two pages, double-spaced. References should include minimally the article reference from the CSU online library (required), plus one additional credible reference. All sources used must be referenced; paraphrased and quoted material must have accompanying citations, and cited per APA guidelines.

Unit VII Case Study

Case studies are an important learning strategy in business classes as they provide an opportunity for you to critically analyze events that have taken place in real-life businesses. This develops your critical thinking and research skills as you research the competition and industry in which your business resides with an end goal of formulating a recommendation for the challenges faced by the company.

Read “The Risk Management Department” case on pages 641–642 of your textbook. As you complete the analysis, address the topics below in your case analysis.

1. Financial risk, strategic risk, operational-technical risk, and operational-safety risk represent project risk sources within an organization. Discuss each from a theoretical aspect.

2. Evaluate which of the sources/risks above with which Cooper Manufacturing is involved. Explain the amount of risk associated with each.

3. Explain scheduling techniques that Cooper Manufacturing might use to mitigate its risks.

4. Explain specific tasks that Cooper Manufacturing should use to manage its project risks.

In formatting your case analysis, do not use the question-and-answer format; instead, use an essay format with subheadings. Your APA-formatted case study should be a minimum of two full pages in length (not counting the title and reference pages). You are required to use a minimum of three academic sources that are no more than 5 years old (one may be your textbook). All sources used, including the textbook, must be referenced; paraphrased material must have accompanying in-text citations. A minimum of three in-text citations are required.

Unit VIII Final Project

For this assignment, you will take on the role of a Project Management Institute (PMI) Project Management Certification exam instructor and complete a PowerPoint presentation. It is your responsibility to educate individuals who anticipate taking the PMI Project Management Certification exam. The tone of the presentation should be informational and cover the main project management concepts learned in this course. Utilization of the textbook (end of each chapter) might provide

additional assistance. As you compile the presentation, minimally discuss the points below.

Describe general topics covered in the PMI Project Management Certification exam.

Explain the roles and responsibilities of a project manager.

Describe project risk strategies and how they create opportunities for project managers.

Examine the tasks associated with the project manager role through closure of the project.

Your PowerPoint presentation should be a minimum of 10 slides in length, not counting the title and reference slides. All sources used must be referenced and paraphrased. Directly quoted material must have accompanying citations and be cited per APA guidelines.

Use of speaker notes is required as well. In the speaker notes, you will provide what you would say if you were actually giving the presentation to an audience. Please write your notes in complete sentences, and adhere to typical grammar and/or punctuation rules.

Information about accessing the grading rubric for this assignment is provided below.