• Why is it important to document risks and risk information gathered from various sources?
Documenting risks is the first step in determining if a risk likely to come to pass and what kind of impact the risk will have on the project. Without having a good list of risks the project team could get blindsided by an event or issue which could have mitigated or avoided early in the process. In a similar vein, having risks from multiple sources will give a better picture or the risks which could affect the project. Different people can look at a project from different angles, hence one person may identify a risk which did not come up on the radar of others in the project team.
• Explain at least two techniques for gathering risk information …show more content…
Two of the techniques are brainstorming and conducting interviews. The brainstorming technique is generally handled by having key players related to the project sit in a room and come up with as many risks to the project as they can within a set period of time. The participants of the brainstorming session are asked to keep the risks reasonable, but all risks are welcome and no one will be judgmental during the process. The interview technique involves discussing the project and related risks with the stakeholders related to the project. The interviews can be conducted by the project manager or designated project team members who have good interviewing skills.
• Research an example of a bad procurement or poor procurement management in any organization (including from your experience). Describe the situation and explain why you believe this as an example of a bad procurement or poor procurement management. Be specific and remember, others are not familiar with the situation and need to understand the backstory. What made the procurement management ineffective and/or what were the factors that led to the poor outcome? Please include a minimum of one resource in addition to your required or optional reading/viewing
Documenting risks is the first step in determining if a risk likely to come to pass and what kind of impact the risk will have on the project. Without having a good list of risks the project team could get blindsided by an event or issue which could have mitigated or avoided early in the process. In a similar vein, having risks from multiple sources will give a better picture or the risks which could affect the project. Different people can look at a project from different angles, hence one person may identify a risk which did not come up on the radar of others in the project team.
• Explain at least two techniques for gathering risk information …show more content…
Two of the techniques are brainstorming and conducting interviews. The brainstorming technique is generally handled by having key players related to the project sit in a room and come up with as many risks to the project as they can within a set period of time. The participants of the brainstorming session are asked to keep the risks reasonable, but all risks are welcome and no one will be judgmental during the process. The interview technique involves discussing the project and related risks with the stakeholders related to the project. The interviews can be conducted by the project manager or designated project team members who have good interviewing skills.
• Research an example of a bad procurement or poor procurement management in any organization (including from your experience). Describe the situation and explain why you believe this as an example of a bad procurement or poor procurement management. Be specific and remember, others are not familiar with the situation and need to understand the backstory. What made the procurement management ineffective and/or what were the factors that led to the poor outcome? Please include a minimum of one resource in addition to your required or optional reading/viewing