Project Risk and Procurement
This is an individual assignment worth 100% of the module mark. Word length 3000 words (do not exceed word limit). Do not include References in the word count.
Relates to Learning Outcomes:
• Locate, synthesise and critically evaluate recent/current information from a wide range of published literature in the area of Project Risk and Procurement Management.
• Apply knowledge of the theory and practice of Project Risk and Procurement Management to develop insights into and solve current problems.
• Critically evaluate the use of complex models of Project Risk and Procurement Management; systematically and creatively making sound judgements based on the systematic analysis and creative synthesis of ideas.
Critically and effectively assess the value of theories, concepts and models to the practice of Project Risk and Procurement Management.
The management of risk is proving to be one of the most difficult tasks for the project management profession. How can risk be managed effectively and who should be responsible for this task?
You are required to critically analyse the concept of risk; discuss how it can be measured and ranked and outline how a project risk management strategy may be constructed for a complex project involving international partner organisations. In completing this assignment, you should address how appropriate practices can assist in minimising risk for your project.
Notes to be considered on the Assignment:
o Please make Sure the essay is more Critically written and examine.
o In critically analysing risk you need to explain what risk is and what is risk management. The definitions are different in different parts of the literature which suggests different interpretations – you have to explain this. Then find a complex project and then create the risk documents for it, you do not find a pre-written case and just repeat it. The measuring and managing risk is the heart of the work and it is what you need to do.
o In the body of the assignment the argument must be not only explained but also explored. Simply researching other pieces of writing and collecting those thoughts does not make a good risk management assignment. You need to develop an argument and a view of risk management. A good assignment introduces something new. In the course of the assignment the new idea is explained and put to the test by supplying adequate examples. At this time it is the job of the assignment writer to convince the reader of the validity and reliability of his/her theory and explanation.
o Practical examples are necessary to explain the theories of risk management. The assignment should explain and explore ‘real life’ examples as well as the hypothetical. Case studies are a useful form of example; but scenarios must be described with enough detail and observations must explain the theory. Most management assignments will reference multiple theories of management; but, it is important not to provide so many theories that the result is the main issue of developing a project risk management strategy is side-tracked.