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Essay / Research Paper Abstract
This 24 page paper looks at different aspects of risk management within project management. The first three questions consider the way that risks may be identified and assessed when looking at large project and how or why project management processes may fail to identify and quantify accurately all risks that are present. The paper then compares the PMBOK and Chapman and Wards SHAMPU approach to project risk management. The last section the paper uses risk management to identify risks with a given case study. The bibliography cites three sources.
Page Count:
24 pages (~225 words per page)
File: TS14_TEprjriskm.rtf
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Unformatted sample text from the term paper:
public eye. The aim was, as with all project management types of management focused in a single goal with a mission oriented approach to the management (Wideman, 1986). However,
with any large project there are a range of potential problems, looking at the project we can consider what risks may have been identified before the project went ahead, their
level of seriousness and the contingency plans that could have been out into place. The Channel Tunnel was always going to be
a difficult project. The idea of a channel tunnel had been around for many years, there had even been a failed project in the 1970s (Franklin, 1993). In 1987
the Channel Tunnel Act was passed by the British government this meant that British Rail would be under an obligation to provide services through the tunnel. When we look at
this there is an indication of the true complexity of the project (Franklin, 1993). Not only was there the need to co-ordinate several companies who were jointly project
managing the undertaking but also a wide range of projects within the project, not only coordination of the actions on both sides of the channel (Franklin, 1993). Getting
specialist equipment made and delivered but also the provision of services to use the tunnel and ensure that specification needed by the users would be present.
In reality this was a gigantic multi project environment in which there were many concerns all taking place in a negative public environment. This indicates the
risks that were present, the failure of custom made equipment to be delivered in time and the potential that it would break down, the failure of any of the contractor
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