CPMGT302 University of Phoenix Risk Management Breakdown Structure Paper

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Cpmgt302

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Description

Select an organization you are familiar with as the basis of the paper.

Risk involves uncertainty, the lack of knowledge of future events, and the measures of profitability and consequences of not achieving the project goal. Your organization has decided that to be successful in the global economy it must expand its supply base into China or another country approved by your instructor. This has become a strategic project for the organization.

Write a 1,400- to 1,750-word paper in which you address the following risk management items for this supplier global expansion project:

  • Describe the objectives and goals, tools and techniques, and organizational roles and responsibilities for effective risk management for the project.
  • Describe various information sources that may be used by the project team for risk identification.
  • Identify and describe the risk management documentation that will be required for the project. Examples include RMP and risk management log or register.
  • Explain the role of risk management in the project planning process.

Create a risk breakdown structure that outlines the organization's risk categories.

Consider the following categories:

  • Project risks
  • Business
  • Contract relationships with customers and suppliers
  • Management
  • Political
  • Organizational risks
  • Project management risks
  • Cost estimates
  • Schedule estimates
  • Communication
  • Technical risks
  • Production risks
  • Manufacturing concerns
  • Logistics
  • Support risks
  • Maintainability
  • Warranty
  • External risks
  • Procurement
  • Material availability
  • Lead times
  • Quality
  • Market

Format your paper consistent with APA guidelines.

Submit your paper and risk breakdown structure.

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Risk Management Breakdown Structure Paper Grading Guide CPMGT/302 Version 10 Procurement and Risk Management Copyright Copyright © 2016 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Risk Management Breakdown Structure Paper Grading Guide CPMGT/302 Version 10 Edited in accordance with University of Phoenix® editorial standards and practices. 2 Risk Management Breakdown Structure Paper Grading Guide CPMGT/302 Version 10 Individual Assignment: Risk Management Breakdown Structure Paper Purpose of Assignment The purpose of this assignment is to ensure that students understand how risk management fits into project management and risk management methodology. Students need to know sources of risk in order to identify risk. A great tool to use to assist risk identification is a Risk Breakdown Structure (RBS) template. Organizations with mature project management offices more than likely have a standardized RBS template. If the organization does not have a template, it is easy to search on the internet to find a RBS to modify and meet the requirements of the project. Grading Guide Content Met Partially Met Not Met Total Available Total Earned 10.5 #/10.5 Partially Met Not Met Comments: The student bases this assignment on an organization with which they are familiar. The student describes the objectives and goals, tools and techniques, and organizational roles and responsibilities for effective risk management for the project. The student describes various information sources that may be used by the project team for risk identification. The student identifies and describes the risk management documentation that will be required for the project (examples include RMP and risk management log or register). The student creates a risk breakdown structure that outlines the organization’s risk categories. The student considers the categories listed on the assignment in a bulleted list. The paper is 1,400 to 1,750 words in length. Writing Guidelines The paper—including tables and graphs, headings, title page, and reference page—is Met Comments: 3 Risk Management Breakdown Structure Paper Grading Guide CPMGT/302 Version 10 Writing Guidelines Met Partially Met Not Met Total Available Total Earned 4.5 #/4.5 15 #/15 consistent with APA formatting guidelines and meets course-level requirements. Intellectual property is recognized with in-text citations and a reference page. Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total Additional comments: # Comments: 4
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Attached.

Running Head: RISK MANAGEMENT BREAKDOWN STRUCTURE

Risk Management Breakdown Structure
Name
Institution
Course
Date

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RISK MANAGEMENT BREAKDOWN STRUCTURE

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Introduction
Risk management is the process of putting measures in place to deal with uncertainties
that may cause disruptions to the ordinary operations of an organization. It entails ensuring that
all the potential incidences and events that may cause damage, injury, harm, loss, theft, or loss of
crucial aspects of an organization are mitigated. Given that all risks are uncertain and their
likelihood or probability of occurrence remains unknown to an organization, most organizations
lack accurate information about the future of the organization. None the less, there is a need for
an organization to put in place risk management measures that would enable an organization to
forecast their profitability against the potential consequences of the risks which may hinder the
achievement of the goals of an organization.
This paper will review risk management within the context of Walmart which has already
laid down plans to expand its operations in China and thus remains cautious of the uncertainties
surrounding the globalization efforts. The paper provides an overview of the objectives and
goals, organizational roles and responsibilities, as well as the appropriate tools and techniques
that Walmart can use to effectively managing this expansion. An overview of the information
sources that Walmart may use during the documentation of risk management during the planned
expansion project to the emerging market in China is also provided. Finally, the paper provides
an explanation of the role of risk management during a project planning process.
Risk Management Breakdown Structure
Walmart is the largest retail store globally, both in terms of sales revenue, staff, and
customer base. The giant retailer continues to expand its operation across different countries
globally, with the most recent globalization plan focusing on the Chinese market that it considers
as an emerging and potential growth opportunity (Walmart, 2019). Although the expansion plan

RISK MANAGEMENT BREAKDOWN STRUCTURE

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comes amid concerns that some division of the retailer is not coping with the stiff competition in
the market, the company is ready to take risk and venture into the emerging market in China to
increase its supply and distribution within the market that remains unexploited.
The move to undertake the globalization initiative in a new market that the company is
not familiar with at all means that there are uncertainties that the company may face during the
expansion. Therefore, the company remains unaware of the future outcomes of the globalization
plan and the possible consequences of the planned expansion program. Conversely, Wal...


Anonymous
Excellent resource! Really helped me get the gist of things.

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