Management Question

User Generated

Nxrag84

Business Finance

PRM 400 Project Risk Management

university of arizona global campus

Description

Classmate 1:

Sean Thomasson


Briefly describe the who, where, how, and why from the risk management perspective.

Gordie Howe International Bridge

Who: The key stakeholders involved in the Gordie Howe International Bridge project include the Windsor-Detroit Bridge Authority, Bridging North America, the Michigan Department of Transportation, the U.S. Federal Highway Administration, contractors, engineers, and workers from both Canada and the U.S.
Where: The Gordie Howe International Bridge crosses the Detroit River, connecting Windsor, Ontario, Canada, to Detroit, Michigan. When completed, the ports of entry will be the largest land ports along the United States-Canada border (Riley, 2024).
How: The construction of the bridge took over 20 years of planning and collaboration and involved various construction phases. This included not only of the bride itself, but construction of ports of entry in both Canada and the U.S. It uses a wide range of machinery and technology to complete tasks such as tower construction, concrete pours, and electrical and drainage systems installation.
Why: The Gordie Howe International Bridge is a significant infrastructure project to address regional transportation issues and expand capacity to better support trade between the U.S. and Canada. According to Heather Grondin, "It will address the regional transportation needs of redundancy, capacity, system connectivity and improved border processing that will positively impact the flow of traffic and goods through this key gateway, and help our national economies grow" (Riley, 2024).

Include what proactive actions could have been taken.
Before starting the project, thorough risk assessments should have identified potential risks like supply chain concerns, the Covid pandemic, and severe weather. Proactive planning would have included strategies to address these risks, such as contingency planning for work stoppages or delays due to the pandemic or weather. Sourcing materials from both countries could help deal with material shortages and keep costs in line with the project budget.
The Covid-19 pandemic posed a new and unique challenge for cross-border workforces. Each country had a different response to the pandemic and various restrictions on its workers. Developing health and safety measures, especially a cross-border agreement on Covid restrictions and health screenings, could have minimized project delays. Along with pandemic issues, safety and quality were prioritized, and stringent oversight was implemented based on the agreement with Bridging North America (Riley, 2024). Lastly, given the wide range of temperatures (high heat in summer and extreme cold in winter) and unpredictable winds, proactive strategies could have included scheduling critical work, like crane operations and concrete pours, during specific weather seasons or investing in climate-resistant materials for construction.

Be sure to explain why you selected one specific type of risk response while discarding others (avoidance, transfer, reduce and retain residual risk, and/or retention).
I would select reduce as the primary risk response for the Gordie Howe International Bridge project. Risks that included weather and the pandemic were unavoidable and had the potential to disrupt project timelines. The best risk response for an unavoidable risk is to reduce the effect of that risk. Steps to reduce risk can involve sourcing supplies and workforce from both countries to mitigate supply chain disruptions and having the ability to adjust work hours during extreme weather conditions. Implementing a hybrid working schedule for staff can reduce the potential of a labor shortage due to Covid contact restrictions.
Avoidance could not be implemented, as the project’s location and scope of work could not be altered and were considered high risk. A bridge being built in a specific location and climate for that area does not allow for complete avoidance of risks.
Transfer was not an ideal risk response because many risks were tied to the geographical, environmental, and political nature of the project. Insurance or outsourcing solutions cannot fully address the potential impact.
Retention may be considered for slight delays in construction, but reducing the overall project risk is a better strategy for the Gordie Howe Bridge than simply absorbing it.

Reference:
Riley, C. (2024, November 6). $4.7B Gordie Howe International Bridge Project nears completion. CEG. https://www.constructionequipmentguide.com/47b-gor...

Classmate 2:

Bre'Ona Williams

Hello Class,

Briefly describe the who, where, how, and why from the risk management perspective.

Who: The key stakeholders involved in the project include the company's cybersecurity team, IT department, senior management, and all employees with access to sensitive data. External partners include cybersecurity firms and regulatory compliance advisors.
Where: The project is based within the company's headquarters in the U.S., but it has implications for all global operations where the company handles sensitive user data.
How: The project involves upgrading security protocols and systems, conducting regular security audits, and training employees on data protection best practices. This includes the implementation of advanced encryption methods, two-factor authentication, and continuous monitoring of IT systems for any unusual activity.
Why: The initiative aims to bolster the company's defenses against data breaches and cyber threats, ensuring compliance with international data protection regulations such as GDPR and CCPA. This is critical not only for protecting user data but also for maintaining customer trust and fulfilling regulatory requirements.

Include what proactive actions could have been taken.

Proactive actions include conducting a comprehensive risk assessment prior to the upgrade to identify all potential cybersecurity vulnerabilities. Establishing a more robust incident response strategy could have been developed earlier to handle potential breaches more effectively. Additionally, investing in advanced predictive analytics tools could help in anticipating and mitigating potential threats before they materialize. Collaboration with international cybersecurity agencies to stay updated on the latest cyber threats and countermeasures would also enhance proactive defense mechanisms.

Be sure to explain why you selected one specific type of risk response while discarding others (avoidance, transfer, reduce and retain residual risk, and/or retention).

I selected risk reduction as the primary response because it directly addresses the vulnerabilities without halting or limiting the company’s operational capabilities, which is essential for a tech giant handling massive amounts of user data. Avoidance was not practical as it would involve ceasing to process user data, which is not feasible for a technology firm. Transfer, such as outsourcing security, would not eliminate the inherent risks associated with handling large datasets, nor would it absolve the company of its compliance obligations. Retention of this risk without active mitigation measures would be irresponsible and could lead to significant financial and reputational damage. Thus, reducing the risk by enhancing security measures and training was deemed the most effective strategy to safeguard against data breaches.

Reference:
Kendrick, T. (2015). Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project. AMACOM.
Edwards, P. J., Serra, P. V., & Edwards, M. (2020). Managing Project Risks. Wiley-Blackwell.

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Explanation & Answer

Attached.

PRM 400 Management Question

Student’s Name
The University of Arizona Global Campus
Course Name and Number
Instructor’s Name
Due Date

Sean Thompson
The Gordie Howe International Bridge project by Sean Thomason effectively
highlights the complexities of managing risks in large-scale infrastructure projects. I agree
with the selection of risk reduction as the primary response, given the unavoidable nature of
many risks like weather and workforce challenges due to the pandemic. Proactively
addressing these risks through flexible scheduling, sourcing from both countries, and
implementing cross-border health measures demonstrates a thoughtful approach to
minimizing disruptions. While avoidance was not feasible due to the project's fixed location
and purpose, transfer could have been partially applied for financial risks through insurance
or contractual agreements with suppliers. However, it woul...

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