Project Management Process And Risk Management Essay

701 Words Nov 16th, 2016 3 Pages
Elevator pitch:

ENSERCH is an expanding energy company which had grown out of a local distribution gas pipeline company in Dallas, Texas. Electric Bond and Share Company (EBASCO) were founded by Thomas Edison in the early 20th century. Several large engineering companies have moved into remediation work which was related to cleaning up of environment. This market was growing rapidly with low barriers to entry.
This case is a very good example of a good project management with high risk management. This case talks about the importance of project management process and risk management. Their approach to project management is bottom up, executive teams don’t tell project teams what to do, it project managers and project teams who provide project plans and analyse the risk and decide whether to do the project or not. Project teams take at least 6 months to bid for a RFP, and when they win the bid they know what they are going to do next. They are having a unique approach towards risk management and compliance process. In Tt EC the review process is quite comprehensive, they are conducting peer reviews, project reviews, and project audit. The Task Initiation Procedure (TIP) allows Tt EC to manage risk properly. Based on an article in baseline magazine the five traits of a successful project is: A governance committee that balances capacity with demand, sufficient, dedicated, equipped, and experienced resources, thorough business analysis, mature, secure, honest project leaders…

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