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Project Risk Management

Raman

I am Raman, a student at Edith Cowan University. I am here to give a presentation on the learning experience that I gained from the previous task. My learning so far has helped me in completing the assessment 1. I started my work by doing extensive research on the topics wherein I worked to identify sources of relevant information from different online tools. The assignment went well. However, I could identify that there were some flaws in my approach. The first thing which I noticed as I proceeded with the work was that I did not use high credible resources like peer-reviewed journals, books and other such resources. Moreover, I also found that I failed to define the risks precisely and failed to identify their nature, sources and effects. Furthermore, I did not focus on determining the sources of risk and did not represent them in a column clearly define the severity and types of risk. Also, the project did not work well on demonstrating others work on the same topic under the literature review.

The literature review makes a report of high quality as it reflects the authors’ works and former authors’ work on the same topic. The gap between the previous work and the current work can easily be observed, also the advanced and richer content can be produced by analysing the former work on a topic. This can give us a direction to conduct our research and take the existing research work to the next level. I feel that I should have focused more on reflecting on the project management methodology. Now, I feel that I need to improve my mistakes to ensure better results in future performances. I will do thorough research by referring to high credibility sources like journals and books. Moreover, I will research about different methodologies associated with a topic and will explore the categories under the topic. Ensuring all these areas will not just improve the work quality but also my skill to conduct research and prepare better reports.

Imran

My name is Imran and in this presentation, I will reflect on my experience with assignment 1. I had a little knowledge about the project management initially but later with time, I learnt a lot about the project management by attending several lectures, presentations and discussions. During the preparation and completion of the assignment, I learnt that project management is a one-time activity and it has various risks involved in each of the projects. These risks can hamper the outcome of the project and can even lead to failure of the project. Therefore, the mitigation of these risks is important. However, mitigating risks is a major challenge for the successful completion of a project but it is essential also. I learnt about the phases of project management consisting initiation, planning, executing and closing along with monitoring and controlling the project and also mitigating the risk at the same time In the assignment, I explained well about the risk management in context to the given scenario in the assignment.

The part of the risk management requires to analyse the project and find the potential risk involved and plan a strategy to mitigate and tackle the risk. In some cases, the risk can be significantly reduced or even eliminated but in some cases, it cannot even get identified. In my assignment, I focused on risk management and what risks can affect the Australian national athletics team in the Tokyo Olympics games. However, I failed to link the project risk management with the related theory. Also, I have not well cited the sources and did not properly follow the guidelines of referencing and did not refer to PMBOK which is an essential reference for project management. This could be turned into a better practical risk response plan to manage the risk identified in the report. I could improve my report by elaborating the detail about the risk registers and reflecting the probability and impact intensity along with relevant definition. In future, I shall focus adhere to the referencing style and will try to use the relevant guides and scholarly papers to enhance the quality of my report work.

Dashrat Singh

Hello, I am Dashrat and here I am going to deliver a presentation about my task 1 and what was my experience with that. When I started preparing for the assignment, I began with the research about project management and risk management. I have gained a good insight into the project management and risk management by researching and exploring these topics. Project management is a broader aspect that deals with the entire project and its associated activities and risks. The assignment was completed with the relevant research and useful information incorporated in the report. I gave my best efforts to ensure high quality of the assignment as it was expected but despite all these, it went wrong at some points. The report contained all the information regarding the role of risk management in project management in context to the risk associated with the Australian Olympic team in Tokyo and what should be done to alleviate the potential risk.

However, I failed to demonstrate the professionalism in the report as it lacks the practical recommendation in the executive summary section that could have made the report a professional one. There were some other weak points which were revealed to me later. These included a poor description of the aim and success criteria, risk appetite, tolerance probability and impacts on the project. Besides, the referencing was not correctly followed throughout the assignment. In my opinion, it could be the best report if I had used recent scholarly papers, PMBOK adhering to the guideline of referencing. I have learnt from my mistake and I am willing to use these learning to improve my future works. Whenever I will be doing an academic project or professional project, I will begin from research to gather relevant information. I shall only consider higher authenticity and credibility sources of a subject and I will also try to take the most recent sources as some information get obsolete with the time. I feel that giving proper citation will make my report more presentable and professional and will also leave an impression to the readers.

June

My name is June and I am going to share my experience of doing assignment 1 in this presentation. First, I would like to thanks for giving me this golden opportunity to demonstrate my presentation skill. I am glad to share my learnings from assignment 1. As usual, I began by reading the assessment file to know what is expected from this task. Then, I read and started research about project management and what makes a project successful. Later, I used the information gathered to give the best strategy to reduce the potential risk involved in the given scenario of the assignment. While researching, I came across two types of risk negative risk and positive risk. Negative risks are a threat and can destroy the project while the positive risk is an opportunity that is uncertain but has a positive impact and thus, it should be encouraged. I prepared a plan to deal with the risk involved with Australian national athletics team in Tokyo Olympic but it was not up to the mark.

My report failed to reflect the solid plan that could be used in the practical situation and implementable. I should have paid attention to identify the right strategy to be selected for risk appetite and tolerance as per the situation in the assignment. In the executive summary, I have not emphasized on recommending the relevant and practical recommendation for the steering committee of Australia Olympic. Moreover, I have also made some referencing errors in the file that has deteriorated the quality of the work presented in the file. Using scholarly articles and case studies including authoritative sources like PMBOK was essential to prepare my report as the professional and practical. To improve my work, I shall do more extensive research to understand the problem deeply. While preparing a solution, I will refer to the relevant model and theory retrieved from the authentic sources. Once, I will finish the file, I will check whether the information presented is implementable or not. I will also try to give the straight answers to the problem presented and ensuring the proper formatting by complying with the guidelines.

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Risk Management Assignment Help

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