Successful risk management implementation

Assignment Help Operation Management

Reference no: EM132218926

Consider the professional projects you have worked on in the past or ones you are familiar with. In any of those projects, were there problems that could have been avoided or perhaps an opportunity that was missed? Either way, the end results of the project were affected in a negative manner. Had there been more effective risk management, the impact of the negative issue could have been minimised, while the opportunity’s benefit maximised.

Unfortunately, failure to adequately implement risk management into a project is not uncommon. This is not always for a lack of trying, as there are several risk management mistakes that are commonly made on projects. For example, sometimes the risk management process is carried out too late; not alowing sufficient time to resolve or circumvent risks. Should risk management be effectively implemented, however, the end results of the project will be improved.

With these thoughts in mind, reflect on any current, or past, project teams with which you have worked. Did your team attempt to implement risk management?

Points to Help Answer.

- Summarise a current or past project with which you have worked.

- Explain whether your team attempted to implement risk management:

- If yes, explain whether the team was successful in implementing risk management and why. Analyse how the project was affected by this successful risk management implementation.

- If your team was not successful in risk management implementation (or did not implement it at all), explain why and analyse how the consequences impacted your project.

Reference no: EM132218926

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