The management of risk is proving to be one of the most difficult tasks for the project management profession. How can risk be managed effectively and who should be responsible for this task?
You are required to critically analyse the concept of risk; discuss how it can be measured and ranked and outline how a project risk management strategy may be constructed for a complex project involving international partner organisations. In completing this assignment, you should address how appropriate practices can assist in minimising risk for your project. (please note your project choice can either be a theoretical or real project)
Relates to Learning Outcomes:
• Locate, synthesise and critically evaluate recent/current information from a wide range of published literature in the area of Project Risk and Procurement Management.
• Apply knowledge of the theory and practice of Project Risk and Procurement Management to develop insights into and solve current problems
. • Critically evaluate the use of complex models of Project Risk and Procurement Management; systematically and creatively making sound judgements based on the systematic analysis and creative synthesis of ideas. Critically and effectively assess the value of theories, concepts and models to the practice of Project Risk and Procurement Management.
Use of theory 30
Quality of argument 10
Reference to course ideas 10
Citation and References 10
Word length 3000 words (do not exceed word limit). Do not include the cover page, abstract, table of contents or References section in the word count.
Your paper should have a clear structure, with:
– a cover page
– an abstract (300 words max, one single paragraph)
– a table of contents
– the main body of the paper – you have full creative control over the structure, but do use section headings to signpost your work
– references list ( recent academic literature do not rely on websites)