Identifying and managing risk in a project


Problem 1: Identify two (2) examples of project management tools and describe how they contribute to a project.

Problem 2: Describe two (2) types of documents commonly used in defining the parameters of a project.

Problem 3: Identify three (3) different processes which are used for identifying and managing risk in a project, and briefly explain each.

Case Study - Update Data Systems

Industry: Transportation of Equipment & Supplies Services

Company: Fairways Transportation Solutions.

Mission statement: Connecting people in a modern world with an obligation to make our environment a better place.

Challenge: An ageing data and booking system

Company goals: This Company desires to implement a new state-of-the-art system capable of supporting strategic growth and expansion. After securing $500.000 in funding approval and identifying a new data software package, the senior management team recognizes that they do not have in-house personnel with sufficient capabilities to manage the implementation, management and monitoring of the system to modernize their new infrastructure.

Solution: With an established recruitment relationship already in place, the company have instructed the recruitment manager to turn to SL Employment Services who provide expert personnel with extensive data systems experience.

Problem 4: Using Case Study - Update Data Systems, identify the relevant mission and goals of the organisation and describe how the project relates to them.

Problem 5: Describe project work health and safety requirements.

Problem 6: Briefly describe the purpose of the following processes when managing a project:

  • Lines of authority and approvals
  • Quality assurance
  • Human resources
  • Budgets and finance
  • Risk management
  • Recordkeeping
  • Reporting

Within your answer, consider specific organisational procedures (actual or simulated) relating to each process.

(You may add another slide if the space below doesn't suffice.)

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