Assignment 3: Implementing Risk Management

timer Asked: Feb 7th, 2018
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Question description

Choose a project from the following Website:

Your emphasis should relate to deploying network security appliances, using biometric technologies for network and physical security, managing organizational risk, or planning for disruptions. Note: You will need to conduct further research on the above selected topic using the Internet as a resource in order to address all of the questions / statements.

Write a six to eight (6-8) page paper in which you:

  1. Summarize the selected project and describe the primary failures of traditional project risk management.
  2. Describe the levels of uncertainty and complexity for the project.
  3. Determine what the project manager should communicate to the customers about the project unknowns.
  4. Relating to the selected project, identify and discuss the risk identification for selectionism and learning.
  5. Discuss the contingency planning approach and the management challenges of informing stakeholders.
  6. Use at least three (3) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Analyze the process for diagnosing uncertainty and complexity in projects.
  • Examine the planning process for project contingencies.
  • Use technology and information resources to research issues in managing project risk.
  • Write clearly and concisely about managing project risk using proper writing mechanics.

Tutor Answer

School: Duke University

Here we go!Kindly see the attached file



Implementing Risk Management



Risk Management Implementation
Organizational managers have an obligation of identifying the risks in various
projects ran by the firm and assessing the risks as well as supporting development of
strategies that will guarantee mitigation of recognized risks. In implementing a risk
management framework in a corporation, enterprise managers should ascertain various
factors of risk causes and management measures specific to the company and develop
contingency plans that will ensure success of company projects (Bosinger & Auchey, 2003).
The major issue with the implementation of risk management programs in companies lies in
the continuing gap problem between what company managers perceive as being the promise
of an efficient risk management process, and the actual fulfilment of this promise through a
company-specific operational framework for implementing risk management measures. The
research focusses on Symcor project in Canada. In summarizing various failures of the risk
management process of the project, and the levels of project uncertainty, it is possible to
formulate a risk implementation program that can facilitate success of the project. Factors of

management of organizational risk are extensively employed in the essay in discussing issues
on enterprise risk identification in the company project, and providing evidence on
appropriate contingency planning process for the Symcor project.
Summary of the Project
Situated in Canada, the Symcor project is a joint venture belonging to three of the
largest financial institutions in the country. The Royal Bank of Canada, The Toronto
Dominion Bank and the Bank of Montreal form the Symcor project. The institutions making
up Symcor offer employment to approximately 2500 people and offers services in financial,
telecommunication and retail industries in Canada (Symcor, 2017).



Some of the primary failures of Symcor project include poor project execution and delivery.
The company has been receiving feedback regarding low customer satisfaction with their
services. The businesses within the project have also reported inefficiencies, including
complaints of poor project management (Symcor, 2017). As a result, there has been stunted
growth in the company operations, with few investments in key new products and services
introduced by the corporation.
The project failures of risk management in the Symcor project occurred following
poor management and leadership at the company. Symcor managers did not appropriately
prepare and plan for potential project risks. Business stakeholders have a significant role to
play in ensuring success of an implemented risk management framework of a set up. Failure
to co...

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Outstanding Job!!!!

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