Posted: April 8th, 2015

Project Risk, Quality, and Procurement Monitoring and Controlling Unit 3 Topic 2

GM594: Project Risk, Quality, and Procurement Monitoring and Controlling Unit 3 Topic 2

Order Description

Topic 2: Project Risk
Read the article:

Ribera, J., & Sieber, S. (2009). How uncertainty and risk management impacts the success of Spanish film projects. Journal of Media Business Studies, 6 (4), 49–74.

Project risk is typically described as events that happen to someone or something. Risk managers analyze the probability that such threatening conditions or events will occur and try to make the risk acceptable. This common approach, however, fails to account for the fact that risk also consists of internal factors, such as the characteristics, practices, and deficiencies of the organization itself. The question of what is or is not a pathogenic condition, however, is largely subjective. The article concludes that risk analysis must examine differing perspectives in the organization regarding threats, potential consequences, and appropriate responses. The authors assert that project managers should recognize the existence of these differing views before they can jeopardize project success. They offer guidelines on how to do this:

Analyze the subjective perceptions of risk by…
Getting primary stakeholders to identify and analyze the risks they see, and create their idea of a plan to resolve them
Getting the same people to review each other’s’ analyses, looking for signs of contradictory interpretations
Explore the implications of the differences, including…
Whether a particular difference would hamper effective risk management
Whether there are alternative approaches that would avoid the problem of creating new risks resulting from stakeholders’ conflicting perspectives
Assess the different types of risk mitigation such as
Avoidance
Limitation (also known as mitigation)
Transference or Deflection
Acceptance
Take a position either in support of the authors’ conclusions or in opposition to their conclusions and either rebut or defend their conclusions through researched, cited references.

Remember that this is a discussion, so keep your responses succinct and to the point. Respond to at least three of your colleagues.

Be sure to write your initial post according to APA format using citations/examples to substantiate your position and give credit to your references at the bottom of your post.

synthesize your analysis of the reading as a conclusion and then evaluate your synthesis.