Why cra critical to effective global project risk management

Assignment Help Business Management

Reference no: EM133638908

Homework: Country Risk Analysis

Overview

Country risk refers to a country's inherent risks that may affect its businesses and result in losses to multinational business organizations. These evolving risk factors are extremely important to monitor overtime for organizations that wish to conduct international business. Since most international organizations conduct business in the form f a global project, it is critical that an effective global project manager understand how to effectively conduct a country risk assessment (CRA).

An effective CRA will assess at the country's business risk by looking at factors like the following risk factors:

1) Political,
2) Economic,
3) Geographical features,
4) Technology advancement,
5) Work force competencies,
6) Safety & stability.

For these identified risks, the global PM must be able to identify, quantify, prioritize and develop risk mitigation recommendations to ensure that the project is successful. (Please read attached PDF.)

Tasks

You will write a 5 to 6 pages on Country Risk Analysis covering the following required 3-elements.

I. Element I: Conduct graduate-level research on the concept of Country Risk Analysis & Assessment (CRA). Provide your individual analysis on why a CRA is critical to effective global project risk management. Ensure you provide necessary citations and references to your research.

II. Element II: Choose a country (cannot be your country of origin) and conduct a high-level CRA. Assume you are being assigned as the Project Manager for a project being run in the assigned country. Conduct an effective CRA for your project sponsor. Your CRA must include at least 4 country risks that you feel are critical to the project's overall success. Be specific on how these country risks may adversely affect the project.

III. Element III: As the global project manager, provide risk mitigation recommendations for at least 3 identified risks. Mitigation recommendations should focus on project resources, project communications and project decision making.

Reference no: EM133638908

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