Discuss both theoretical and practical risk management strategies

In completing this assignment, you should discuss both theoretical and practical risk management strategies and how these can assist in minimising risk for your project.

Discuss both theoretical and practical risk management strategies

Assessment task details and instructions
The ‘management of risk’ is perhaps easier to understand in theory rather than manage in practice. It is a complex and complicated idea, especially in terms of how we are to manage it. How can we define what we mean by ‘risk’ and how can it be managed successfully in large and small projects? You are require d to critically analyse the concept of risk; discuss how it can be measured and ranked and outline how a project risk management strategy may be constructed for an international telecommuncations project involving stakeholders in Europe, Saudi Arabia and the United States. In completing this assignment, you should discuss both theoretical and practical risk management strategies and how these can assist in minimising risk for your project.

You will need to take the following into account when completing your assignment.

Firstly, Establishment of relevant theory. (E.g. what do we mean by risk in a project management context and what is the relationship between risk and risk management in theoretical terms; and how do individual attitudes to risk interact with organisational risk appetite?).

Secondly, Allocation of credit and sources used; (have I included references and citations to the material I have used?);

Thirdly, Clarity of argument and relevance to the project management context

Fourthly, Overall report presentation including spelling and grammar.

Lastly, Adherence to nominated word limit.

NB:

Please add CRN, your name and student identity number to the header of each page of your report.

Please ensure you put your word count on your title page.

University lateness and plagiarism rules apply.

Please follow a report format.  Therefore, you should have a title page, contents page, sections and sub sections, page numbers, appendix section etc.  Please note if you are uncertain on how to present and structure a report then visit the university library and ask for assistance.

Please do use diagrams, illustrations, tables, graphics etc..

Wherever these are helpful, and remember that these do not count towards your word limit. If you do use these, please do not put them in the appendices if they are part of your discussion.  Appendices are the appropriate places to put supporting material. However, remember if the reader is satisfied with the main points of your discussion; the supporting information within the appendices may not even be reviewed.

Please try to use theory explicitly at all stages, but do not spend too much time describing a theory. While you must be explicit about the theories, models, techniques etc.. That you use, you can assume that the reader is familiar with them. What the reader requires is evidence of your ability to understand and apply the theory and learn from in order to support the development of your findings and/or ideas.
You must cite all sources on which you have relied, for example textbooks, journal articles, web pages etc. using the Harvard Bibliographic referencing system. If you do not cite all sources, then you may be accuse d of plagiarism, and that may endanger your success in passing the module. If you are in any doubt about how to reference your work, please obtain guidance from the library and/or your academic librarian(s) for this module.

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