What was the objective of your control plan

Assignment Help Operation Management
Reference no: EM132743275

Controlling risks, also referred to as "Risk Treatment", will assist you in determining WHAT should be done in response to the risks that have been identified, in order to improve project outcomes. Fundamentally, the concept of controlling risks emphasizes the fact that, unless action is taken, the risk identification and assessment process has been wasted. Risk treatment converts the earlier analysis into substantive actions to reduce the levels of those risks with negative consequences and exploit the risks with positive consequences.

Applying your understanding of the concept of Controlling Risks, please share at least two risks that you have identified in completion of a job tasks or project (in a past or present role) and the specific actions you have taken to improve outcomes.

What was the objective of your Control (Treatment) Plan?

To impact the likelihood that the risks would occur?

To impact the consequence that the risks would have on your project?

Was your Control (Treatment) Plan effective? Why or Why not?

What would you do differently next time you have to develop and implement a new control plan? Please Explain.

Reference no: EM132743275

Questions Cloud

Find how events accounted for in financial statements : Find and Explain how this event should be accounted for in the financial statements of Smart Ltd for the year ended 30 June 2020.
Establish and maintain such an environment : What can leaders do to establish and maintain such an environment?
What is ?bane average cost of capital : Bane Industries has a capital structure consisting of 63 percent, What is ? Bane's average cost of capital where the firm faces a tax rate of 34 ?percent?
Review three types of controls : Distinguish between the three types of organizational controls by answering the following questions:
What was the objective of your control plan : What was the objective of your Control (Treatment) Plan? To impact the consequence that the risks would have on your project?
What is the implied rate of return on the investment : The return will increase by $10,000 every year until the fifth year, when it finally reaches $50,000. What is the rate of return on this investment?
What is the promised rate of return : An investment costs $100,000 today but promises to return $1,000,000 in 20 years. What is the promised rate of return? What is the rate of return on investment?
Effectively communicate risks and plan : Applying your understanding of how to effectively Communicate Risks and Plan outcomes in the scope of a project do you recall a time when important information
What stage of the business cycle is wilson experiencing : What stage of the business cycle is Wilson experiencing?

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd