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Essay / Research Paper Abstract
An 11 page paper defining risk and risk assessment, and exploring some of the tools emerging to assist with risk assessment and risk management. Varying approaches appear to be emerging in different industries. The paper discusses risk associated with IT projects, but also includes mention of the banking, petroleum, healthcare and insurance industries. Bibliography lists 10 sources.
Page Count:
11 pages (~225 words per page)
File: CC6_KSriskAsProcToo.rtf
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Unformatted sample text from the term paper:
similarity in all 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. Adding other steps can destroy the established project plan or require significant adjustment, either of which will
add to the total cost of the project. This is a common problem with all types of problems, but particularly in information technology (IT). Physical vs IT Projects
Flynn (2003) explains that despite solid efforts over the years, not much has materially changed over the years. Too often, approaches to projects
today take the same form as in the early days of formal project management. This is: 1. "Initiate the project 2. "Wild enthusiasm 3. "Chaos and disillusionment
4. "A search for the guilty 5. "Punish the innocent 6. "Promote the non-participants 7. "then... Plan the Project" (Flynn, 2003).
One of the factors separating physical and IT projects is that in producing a building (or bridge, or airplane) everyone knows at the outset the desired final result.
In the case of a building, the project managers job is to ensure that the building is completed on time and on budget, and nothing more. There are
not myriad meetings discussing what individuals might want to use the building for, or trying to anticipate how the building can be expanded in the future. In the case
...