Reference no: EM131221768 , Length:
Individual Assignment: Risk Drivers
Risk assessment and risk management are used to identify and mitigate risk drivers. A risk driver is a situation in a project from which project risks can arise. Identifying risk drivers can help a project manager evaluate the needs of the project, make changes as needed and allow the project to stay on course. For example, consider an organisation that is taking on a new project unlike any other they have done in the past. The organisation's level of inexperience with this new project can be identified as a risk driver. The risks that could arise from this risk driver include overlooking necessary tasks that were not known to be needed, underestimating time, underestimating resources and exceeding budget. It is a project manager's responsibility to evaluate risk drivers and associated risks throughout every phase of the project life cycle, propose possible solutions to risks and communicate risks to stakeholders.
To complete this Individual Assignment:
- Review your scenario.
- Review the resources from this unit related to risk assessment.
- Identify risk drivers in your project and the risks associated with each.
- Explain how the risks you identified could impact the project, and propose strategies to mitigate each risk.
Scenario:
Launching a New Product Line
You work for a firm that manufactures and distributes haircare products. To this point, your sales have primarily been to retail outlets. The firm has decided to launch a new product line of bulk-packaged hair care products to be sold and distributed to organisations such as hospitals, gyms, schools and universities with residences for students, and similar customers. You are in charge of the team who must present a project plan for the production, sales, and distribution of the new product line to potential investors in order to secure funding to bring the new product to market.
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Identify the problem discussed in the article
: Prepare a 700-word discussion of the business situation. The discussion should include the following: Summarize the issue from the article. Identify the problem discussed in the article. Explain why this is the underlying problem.
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Calculate adjusted tax basis in asset
: ABC Company purchased business property several years ago, paying $25,000 cash and borrowing $80,000 to fund the acquisition. ABC also incurred $2,000 of freight costs for shipping the property to its business location. Over time, ABC has incurred $1..
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Contrast the different kinds of goals
: Compare and contrast the different kinds of goals that can exist within an organization. How is each type likely to affect organizational behavior?
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Calculate worst-case computational complexity of decision
: It is important to calculate the worst-case computational complexity of the decision tree algorithm. Given data set, D, the number of attributes, n, and the number of training tuples, |D|, show that the computational cost of growing a tree is at m..
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Propose strategies to mitigate each risk
: Identify risk drivers in your project and the risks associated with each and explain how the risks you identified could impact the project, and propose strategies to mitigate each risk.
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Compute the velocity of money for each year
: Using these data, compute the velocity of money for each year from 1980 to the present. - Make a graph showing velocity and the T-bill rate over time.
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Differentiate between different types of accounts
: Differentiate between different types of accounts) Bill Hooper opened a software consulting firm that immediately paid $6,000 for a computer. Was Hooper’s computer an expense of the business? If not, explain.
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Describe one of the deming and juran approaches
: Describe one of the Deming and Juran approaches to quality improvement and how its use might affect a company.
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What is fred tax basis for the land that he received
: The stock of Broward Corporation is owned by Ted (65%) and Fred (35%) who are father and son. Pursuant to a plan of complete liquidation, Broward distributes land with a fair market value of $400,000 to Fred in exchange for his stock. How much gain o..
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