Description
Important! Read First
Choose one of the following two assignments to complete this week. Do not do both assignments. Identify your assignment choice in the title of your submission.
Option #1: Management of risks in major infrastructure projects
Guo, Chang-Richards, Wilkinson, Li. (2014). Effects of project governance structures on the management of risks in major infrastructure projects: A comparative analysis (Links to an external site.). International Journal of Project Management, 32(5), 815-826.
Respond to the following questions based on the information in the case study noted above:
- Identify a minimum of four project risks faced in the case study.
- Identify a minimum of four risk response strategies and detail how these risk solutions can be implemented to achieve project success.
Be sure to properly organize your writing and include a cover page, an introduction, headings/subheadings for the body of your work, analysis and recommendations, a conclusion, and a list of references. Consult this assignment template for a more complete list of requirements: https://csuglobal.libguides.com/writingcenter/apa7_writing_templates/papers (Links to an external site.). Your paper should be 3-4 pages (not including the title and reference pages) detailing and analyzing the specifics in items 1 and 2 above, and it must conform to the CSU Global Writing Center (Links to an external site.). Include at least three scholarly references in addition to the course textbook. The CSU Global Library is a good place to find these references.
Refer to the Critical Thinking Assignment grading rubric below for information on assignment expectations and grading.
Option #2: Project Risk Planning in High-Tech New Product Development
Tomi?, L., ?okorilo, O., Macura, D. (2020). Runway pavement inspections using drone—Safety issues and associated risks (Links to an external site.). International Journal for Traffic Transport Engineering, 10(3), 278–285.
Respond to the following questions based on the information in the case study noted above:
- Identify a minimum of four project risks faced in the case study.
- Identify a minimum of four risk response strategies and detail how these risk solutions can be implemented to achieve project success.
Be sure to properly organize your writing and include a cover page, an introduction, headings/subheadings for the body of your work, analysis and recommendations, a conclusion, and a list of references. Consult this assignment template for a more complete list of requirements: https://csuglobal.libguides.com/writingcenter/apa7_writing_templates/papers (Links to an external site.).
Your paper should be 3-4 pages (not including the title and reference pages) detailing and analyzing the specifics in items 1 and 2 above, and it must conform to the CSU Global Writing Center (Links to an external site.). Include at least three scholarly references in addition to the course textbook. The CSU Global Library is a good place to find these references.
Explanation & Answer
Please view explanation and answer below.
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Management of Risks in Major Infrastructure Projects
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Management of Risks in Major Infrastructure Projects
Introduction
All projects have the probability or risk of encountering them, whether domestic or
international. The case study by Feng et al. (2014) compares the risk management process in
two big international projects with one on Y-Wan Railway and the other one on Northern Toll
Road. The countries where these projects happen are China and New Zealand, respectively. A
unique aspect of the two projects is that they were all the first of their kind in the two countries.
However, the two projects were under different management systems. For instance, the project in
China was under a centralized system that accepted a top-down risk management approach. The
system also had only a single agent. On the other hand, the project in New Zealand was under an
alliance system that accepted the team to develop practical risk management options (Guo et al.,
2014). This paper shall determine four project risks, and the used risk response approaches.
Risks in the Yi-Wan Railway project.
The risk management process begins with assessing and evaluating the risk, which is a
vital process in project management. Risk occurs in two major forms, and it can be negative or
positive. Not all risks end up with negative ...