Project risk management focuses on mitigation

Project risk management focuses on mitigation

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

Project risk management focuses on mitigation

Semester Project Instructions

Overview

The semester project is a hands-on learning opportunity to reinforce the material learned throughout the course of this semester. The semester project work will allow you to bring to life some of the concepts taught during the course and galvanize your understanding of the material. In addition, the semester project work will provide you with practical skills and experience that are highly sought after in the work place. It may seem a little overwhelming at first, however, I will be your guide and I will be teaching you during your journey. This project will require a considerable amount of time to complete, so you should begin working on this by the second week of class. It will require that you conduct some research, apply newly obtained skills, and interact with your instructor. If you get stuck, remember, don’t spin your wheels or get frustrated – contact me for help.

Approach

• Each student will be assigned by the instructor to one project to work on (assignments will be available the second week of class – see full list below).
• You may work independently or select one other person in the class to work with. If you select one other person in the class to work with, both students must send the instructor an email by the end of the third week of class to confirm who their partner is and both students will receive the same grades for this assignment. Otherwise, I will expect you to complete your assigned project on your own.
• Research your selected project to fully understand it. You may do this by examining companies in that line of work or historical projects of a similar nature.
• Research the purpose and format of the various types of ‘project plan deliverables’ that you will produce (see below).
• Thoroughly review the materials that I have provided on Blackboard as a wealth of information is available that will assist you with your project.
• Communicate with your instructor on a regular basis as you will need to confirm your assumptions, gain clarity, and gather additional requirements
• Produce draft versions of your ‘project plan deliverables’ (see below) to share with your instructor as you progress to ensure that you are on the right track.
• Turn in the final version of your ‘project plan deliverables’ (see below) when they are due.

Project Plan Deliverables

1. Project Charter (Must use MS-Word or MS-PowerPoint)

• The project charter provides an overview of the project purpose and objectives (scope, cost, schedule)
• Project charters are an agreement between the client and the project manager as to what needs to be done, when, and how much it will cost.
• Project charters come in many forms, however, for this class I have provided the template that you must use.

2. Project Organizational Chart (Must use Visio or MS-PowerPoint)

• The project organization chart shows pictorially what roles are needed for the project and the reporting hierarchy
• Project organization charts differ from company organization charts. Company organization charts focus on formal position people hold within a company (i.e. Director of Marketing) rather than temporary roles people play on projects (i.e. Testing team leader, Project Manager, Construction Laborer, Quality Inspector, etc…)
• Project organization charts are a useful tool for team members to see where they fit into the big picture

3. Project Roles and Responsibilities (Must use MS-Word)

• Project roles and responsibilities describe what the specific duties are for each role on the project organization chart
• Project roles and responsibilities are a useful tool for team members to understand what they are expected to do during the project
• Project responsibilities are often bulleted one-line sentences of a half dozen or more responsibilities that a role is expected to perform

4. Project Risk Register (Must use MS-Word or MS-Excel)

• Project risks identify what could potentially go wrong during the course of the project – not overall company risk.
• Generally, this is in the form of a sentence or two which describes the risk and the impact (i.e. Management decisions are not made in a timely manner resulting in a delay in schedule)
• Your project should have a minimum of a dozen risks and they should be as specific as possible.
• Project risk management focuses on mitigation – minimizing the probability that a risk will occur and/or the impact if it occurs. It also focuses on contingency – what would you do if the risk actually occurred.
• Your risk register should include at a minimum for each risk identified: risk event description, probability, impact, risk response actions, and a contingency plan.

5. Project Schedule (MS-Project or MS-Excel)

• The project schedule is an organized list of activities that need to completed for a project set against a timeline to allow progress tracking
• The Project schedule must include descriptions of the activities, estimated durations, precedence relationships, start date, finish date, milestones and assigned resources.
• The Project schedule should include at a minimum 50 activities and a maximum of 100 activities using a work breakdown structure format and a minimum of 5 milestones.

Note: This is an opportunity to explore the use of Microsoft Project – which is a highly sought after skill in the work place around the world. However, it will require additional time and self-training on your part. I will help you along the way. If you would prefer not to learn or use Microsoft Project, you have the option to create your project schedule using Microsoft Excel.

Projects List

#	Project Description	Cost	Duration
1	Construction of a small office building	$5M	18 Months
2	Construction of a community park	$3M	6 Months
3	Construction of a police station	$15M	18 Months
4	Construction of an amusement park	$100M	12 Months
5	Construction of a suspension bridge	$100M	36 Months
6	Accounting software implementation at a medium-sized company	$25M	18 Months
7	Development of a new experimental drug to treat asthma	$200M	48 Months
8	Convert data center from IBM servers to Dell servers	$30M	9 Months
9	Retrofit apartment building with new fire suppression system	$15M	4 Months
10	Relocate historical school house to a new location 2 miles away	$1M	3 Months
11	Construct a new McDonald’s restaurant	$5	6 Months
12	Development of a new experimental drug to treat diabetes	$200M	48 Months
13	Design and engineer a new all electric vehicle	$75M	24 Months
14	Design and engineer a new 15 speed automatic transmission	$35M	15 Months
15	Design and engineer an optical recognition automatic teller machine (ATM)	$10M	18 Months
16	Customer billing system software implementation at a large-sized company	$150M	24 Months
17	Construct 10 miles of a new expressway	$100M	48 Months
18	Construct 60 miles of new pipeline to transport natural gas	$75M	24 Months
19	Re-locate a major automobile manufacturing facility 50 miles away	$135M	6 Months
20	Construct a warehouse for an automobile parts supplier	$10M	12 Months
21	Construct a homeless center in Mexico	$30M	24 Months
22	Inventory Management software implementation at a Large-sized company	$20M	18 Months
23	Develop a new subdivision of homes in Lyon Township, MI	$60M	24 Months
24	Build a brand new factory in Michigan to manufacture wind turbine blades	$100M	36 Months
25	Host the special Olympics in Southfield, MI	$5M	18 Months

 

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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