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Essay / Research Paper Abstract
This 3 page paper explains and explores the link between risk management and project management, arguing that risk assessment ad management is an essential part of any project management. The paper uses the example of Robert Mondavi Winery to illustrate points raised. The bibliography cites 2 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEprojrisk.rtf
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Unformatted sample text from the term paper:
or they may be small supplementing or improving the current operations or expanding them. This is true regardless of the type of business undertaking projects, from a construction firm to
a winery. Robert Mondavi Winery, as a fairly new winery, founded in 1966 by Robert G. Mondavi in Californias Napa Valley (Robert Mondavi Winery , 2006). As a
new enterprise there will have been a large number of small and large projects to bring the winery to the current level of success.
Each new project and ongoing project will need to be managed, if not mistakes may occur and unnecessary risks may be faced. Where projects are not managed they
may run over schedule, come in over budget and even deliver the wrong outcome. These are risks when any new project is started, however, it is only with the use
of careful management that the risks or exposure to risks may be eliminated or reduced (Heerkens, 2001). If we look at a
range of the projects that Robert Mondavi Winery has undertaken over the years it is apparent that with each of these there has been different levels of risk. For example,
the was the introduction of the use of French Oak barrels to age the wine in staring in the 1960s (Robert Mondavi Winery , 2006). Had risk not been assessed
and managed here this project may have faced very large risks, potentially to loss of all the wine that was to be aged in the barrels and potentially damaging the
winerys early reputation. There has also been the innovation of cold fermentation on stainless steel tanks (Robert Mondavi Winery, 2006). This was a very controversial method of fermentation when it
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