Reference no: EM13856481
Case Sustainig Project Risk Management during Implementation This case demonstrates a common problem of sustaining risk management while the project is being executed. It also suggests there is no pat answer to an important problem that cannot be ignored! The topic is repeatedly discussed at PMI Roundtables. The fundamental take-away of the case is that if you do not continuously review project risks, the occurrence of a risk event can seriously impact project objectives (and your future as a project manager). Risk surprises are not daily occurrences, but when they happen because of neglect and inattention, the blame gets passed back to the project manager. You could start of the discussion with some basic questions:
1. ?What kind of business is Futuronics in? The potential for new risks showing up during product development of products that are at least seven years ahead of the market would be very large!
2. A good way to get started with the case is to begin with the old analogy of a stock portfolio. If conditions change and you fail to manage the portfolio, what happens? For example, what corrective action is necessary if interest rates change; inflation increases, shortage of oil? Were triggers in place? Constant management of project risk is an on-going process; it does not end with the original risk plan.
3. Another question to get started is to ask what are the risks of not doing risk analysis as the project progresses? New risks will not be identified early as new information becomes available.
4. Ask the class to identify project risks they have experienced or are aware of from past projects. In practice, a frequent risk that is often neglected as is resource turnover and loss of expertise. This is a good time to differentiate the terms "issue" and "risk event." And then focus on specific challenges raised in the case: Why do project stakeholders lose interest in project risk after the project is underway?
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