Project Risk and Procurement

Project Risk and Procurement Order Description Assignment: This is an in" rel="nofollow">individual assignment worth 100% of the module mark. Word length 3000 words (do not exceed word limit). Do not in" rel="nofollow">include References in" rel="nofollow">in the word count. Relates to Learnin" rel="nofollow">ing Outcomes: • Locate, synthesise and critically evaluate recent/current in" rel="nofollow">information from a wide range of published literature in" rel="nofollow">in the area of Project Risk and Procurement Management. • Apply knowledge of the theory and practice of Project Risk and Procurement Management to develop in" rel="nofollow">insights in" rel="nofollow">into and solve current problems. • Critically evaluate the use of complex models of Project Risk and Procurement Management; systematically and creatively makin" rel="nofollow">ing 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. Assignment Brief The management of risk is provin" rel="nofollow">ing 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 outlin" rel="nofollow">ine how a project risk management strategy may be constructed for a complex project in" rel="nofollow">involvin" rel="nofollow">ing in" rel="nofollow">international partner organisations. In completin" rel="nofollow">ing this assignment, you should address how appropriate practices can assist in" rel="nofollow">in min" rel="nofollow">inimisin" rel="nofollow">ing risk for your project. Notes to be considered on the Assignment: o Please make Sure the essay is more Critically written and examin" rel="nofollow">ine. o In critically analysin" rel="nofollow">ing risk you need to explain" rel="nofollow">in what risk is and what is risk management. The defin" rel="nofollow">initions are different in" rel="nofollow">in different parts of the literature which suggests different in" rel="nofollow">interpretations – you have to explain" rel="nofollow">in this. Then fin" rel="nofollow">ind a complex project and then create the risk documents for it, you do not fin" rel="nofollow">ind a pre-written case and just repeat it. The measurin" rel="nofollow">ing and managin" rel="nofollow">ing 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 explain" rel="nofollow">ined but also explored. Simply researchin" rel="nofollow">ing other pieces of writin" rel="nofollow">ing and collectin" rel="nofollow">ing 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 in" rel="nofollow">introduces somethin" rel="nofollow">ing new. In the course of the assignment the new idea is explain" rel="nofollow">ined and put to the test by supplyin" rel="nofollow">ing adequate examples. At this time it is the job of the assignment writer to convin" rel="nofollow">ince the reader of the validity and reliability of his/her theory and explanation. o Practical examples are necessary to explain" rel="nofollow">in the theories of risk management. The assignment should explain" rel="nofollow">in 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" rel="nofollow">in 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" rel="nofollow">in issue of developin" rel="nofollow">ing a project risk management strategy is side-tracked.