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Essay / Research Paper Abstract
A 3 page paper discussing project risk and presenting a risk assessment matrix. The matrix assigns weight to each risk to determine overall effect. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSproPlRskMatx.rtf
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Unformatted sample text from the term paper:
projects, regardless of type. Every project involves breaking down the larger desired end result into a series of logical steps, placing them into divisions that build on those preceding
them. One of the dangers of project management is failing to identify all steps of the project at the outset, when the schedule already has been established by the
time it becomes apparent that steps have been overlooked. This becomes a point of risk for the project, and others can occur at
any time or at any point in the project. The purpose here is to identify potential project risks and assess the potential effects of those risks. Defining Risk
The defining concept of risk management is that it minimizes the risk associated with any available choice of action. The risk that exists
arises from uncertainty in a variety of arenas, including economic, social, political and even physical conditions; and how those conditions interact with each other to form a collective climate and
atmosphere that exists only in the present time. If all possible sources of risk could be identified and accounted for, the resulting truth would exist only for the moment
in which it can be recognized. One or more factors will change with the advancement of the clock, changing the entire identified scenario.
Martin, et al. (2002) report that the "highest level of project risk typically occurs at the outset of the project" (p. 414). Once the project begins
and the project team learns more about customer needs or other factors (software, vendors, a new technology), project risk typically declines. The organizations risk in the project increases at
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