Assignment Essay

570 WordsApr 27, 20143 Pages
Assignment 3: Risk Management on a Satellite Development Project Shamimara Siddique Dr. Mary Tranquillo HRM 517- Human Resources Project Management March 3, 2013 Introduction Within any organization successful completion of a project is always anticipated. However, often time’s projects may run over and may end up costing more than anticipated. With that being said, most project teams/managers ensure the use of risk management is in place. The case that we are going to evaluate is in regards to a Satellite Development team. This team has implemented a risk management team and we are going to evaluate what would happen if the risk management was not implemented. Furthermore, we will also look at the value of risk planning with the consideration of time, cost, and efforts along with the resources that it took to develop such a plan. Thereafter, we will assess how to determine the level of risk management appropriate for such a project. Lastly, we will evaluate the expected impact on the project and suggest two ways the team could maintain current goal in both planning and execution. Suggest issues that could have developed had the team not had a risk plan. Some of the critical issues that could have developed had the team not had a risk plan include schedule, cost and performance. In terms of schedule; would the project go over the timeframe and not meet the deadline? Cost- did the project go over budget, did the project exhaust all resources and funds available? Performance- would the output satisfy the goals of the project and deliverables? These of are some of the issues that could have developed if there wasn’t a risk plan in place. According to Kloppenborg, there is other risk that could have developed: * A customer not agreeing on the rice, which may occur during project initiation. * Not being able to find a capable suppler, may occur

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