I am looking for 250 words or less (risk Management )

I’m working on a Engineering question and need guidance to help me study.

Struggling to find relevant content? Order a custom essay on
I am looking for 250 words or less (risk Management )
Let our experts save you the hassle
Order Now

We are here to learn some tools to help us manage risk in engineering projects and operations….we will explicitly spend some time on both during the rest of the course.

Let’s start with a review of the “Big Three” keys to risk management:

-What can go wrong? (This is where we focus on identifying risks)

-How likely is the failure to happen? (risk assessment and probability….both qualitative and quantitative)

-What is the consequence of the failure? (more risk assessment)

As leaders/managers we seek to understand these things as we plan or projects/operations. Once we understand the risks that are most impactful to the likelihood of meeting our objectives (IMPORTANT NOTE….you can’t do any of this without understanding and defining a set of objectives!), we then seek to minimize the probability and our reduce the consequence (impact is another good word) of the “bad” event.


There are five process groups to a project:





-Monitoring and Controlling

This is a simple yet important point, our risk management activities are heavily focused in project planning processes. All but “Monitor & Control Risks” fall into the project planning lane. Hopefully it is obvious that Monitor and Control Risks falls into the project Monitoring and Controlling process lane.

While I don’t mind which of the several different RM processes you use, I will stick with the Project Management Institute’s PM Body of Knowledge for these notes and lectures (I have provided some of the other approaches in slide decks in the Course Documents tab)

So what are our processes:

-Plan RM

-Identify Risks

-Perform Qualitative Analysis

-Perform Quantitative Analysis

-Plan Risk Response

-Monitor and Control Risks

So going back to the big picture….why do projects fail (we will cover why operations fail much more specifically later in in the course). In our text, we identify three reason, which each have many sublayers to them:

1. The project is impossible (think technology)

2. Project is overconstrained (not enough time or resources)

3. Incompetent management

As a manager, you need to be able to deal with all three of these in the planning process…even if it means canceling or rethinking the requirements of a project.

Next week we will cover Risk Planning in detail, but for this week, your discussion assignment is as follows:

**From your personal history or another source (internet, newspaper, book etc) identify a project that failed and talk very briefly about why? I am looking for 250 words or less. Think of it as if you were talking through it with a CEO in an elevator in order to get his or her attention to this type of failure.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Get personalized services with GPA Fix
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Criminal Justice
Great work! Followed directions to the latter.
Customer 452485, September 1st, 2021
Social Work and Human Services
Great Job!
Customer 452587, October 27th, 2021
Perfect as usual!!! Thanks team!
Customer 452453, May 26th, 2021
Customer 452813, July 5th, 2022
Web programming
Customer 452715, September 16th, 2022
Customer 452813, June 19th, 2022
Great job
Customer 452643, October 31st, 2021
Human Resources Management (HRM)
Thanks for the paper. Hopefully this one will receive higher than a C and has followed all guidelines.
Customer 452701, November 16th, 2022
Customer 452813, June 25th, 2022
Great job on the paper!!
Customer 452885, December 14th, 2022
Great Work!
Customer 452453, April 26th, 2023
English 101
thank you
Customer 452483, February 27th, 2021
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Save More. Score Better. Use coupon code SPECIAL for a 15%discount