Responding to Risk

How effective would risk management be if you simply identified the risks and then walked away from them? Although some would argue that the simple act of identification improves the ability to watch for risks, it does not take full advantage of the positive impact that a set of well-planned responses may have on a project or organization.

Consider an organization where you currently work or one with which you are familiar. Preferably, continue to discuss the organization I use in prior Discussions is School Construction Authority

With these thoughts in mind:

“The organization I choose Is the School Construction Authority we build school, we have a IT department, finance department, change order department Inspection department; safety department, Architecture department, construction department Legal department

Some examples of categories for potential risks include the following:

• Technical
• Cost
• Schedule
• Client
• Contractual
• Weather
• Financial
• Political
• Environmental
• People

Now post your answer to the following:

• Provide a brief overview of your selected organization to reacquaint your colleagues with it. You can include information about the size and industry of the organization, governance structure, and attitudes of its leaders toward risk.
• Discuss your organization’s use and practice of identifying and responding to risks effectively.
• Based on the use and practices that you have shared, describe how you would improve the risk procedures employed within your organization.
• Conclude by describing how your suggestions would impact the organization itself.

References:

Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK® Guide). Sixth edition. Newtown Square, PA: Author.

Part 1: A Guide to the Project Management Body of Knowledge (PMBOK® Guide)

• Chapter 11, “Project Risk Management”
  • Section 11.5, “Plan Risk Responses” (pp. 437–448)

This section of Chapter 11 explains the process for planning responses to project risks. It also includes the specific inputs, tools and techniques, and outputs that should be generated from the risk response planning process.

Rubric:

Element 1a: Initial Post – Risk Identification and Response Practices

Provide a thorough and detailed description of an organization's practice for effectively identifying and responding to risks. Make sure all relevant resources are provided to support the response.

Element 1b: Initial Post – Risk Practices Improvement Recommendation

Provide a thorough and detailed recommendation for improving risk practices in an organization. There are no errors or missing details. Make sure all relevant resources are provided to support the response.