**building a house**

Overview

Changes are a common risk factor, but so too are many other occurrences, each of which should be considered in risk and quality management planning.

Risk Identification and Assessment

Risk conditions could include aspects of project environment that may contribute to project risk, such as poor project management practices. Project risk includes both threats to the project’s objectives and opportunities to improve on those objectives. Risk management is the systematic process of identifying, analyzing, and responding to project risk. It includes maximizing the probability and consequences of positive events and minimizing the probability and consequences of adverse events to project objectives. Keep this in mind as you complete this assessment.

Quality Management

A critical but often forgotten part of a project is quality management. The purpose of quality management is to determine the quality policies, objectives, and responsibilities so that the project satisfies the needs it was intended to meet. Your project quality management plan must address product quality control and assurance. Remember, quality control focuses on finding defects or anomalies in a product while quality assurance focuses on the process rather than the product.  Your quality management plan should also describe how you will implement the quality policy or system and must address quality control and assurance.

Directions

Complete the following monitoring and control processes:

Part 1 – Risk Assessment Matrix

Complete the Risk Assessment Matrix template found in the Resources. Identify a minimum of 5 risks. Make sure to include each of the following risk assessment elements for each risk:

• Areas of impact
• Likelihood ranking.
• Degree of impact ranking.
• Action on trigger.
• Responsibility.
• Analysis (this will be done as a component of Part 2).

Part 2 – Risk Monitoring and Control: Assessing the Impact of a Risk

Risks happen in project management, and when they do, you should know how to manage and control them. Assess the impact of one of the project risks you included in your matrix:

• Analyze the possible impact of a risk event to effectively expose threats to or opportunities for project success factors or objectives.
• Describe the steps you would take to manage this risk.
• Discuss how you plan to monitor the risk. Why did you choose this method?

Part 3: Quality Management Plan

Create a quality management plan for your project. Your plan should do the following:

• Describe methods that effectively control product quality.
• Design a process that is designed to assure product quality.

Additional Requirements

• Length: 5–7 double-spaced pages including the matrix.
• Font: 12 point Times New Roman.
• References: Use proper current APA style and formatting when citing and referencing your sources.

Read the Chapter 10 Case titled: Selling Executives on Project Management.
Write a one to two (1 -2) page paper in which you:

1. Analyze the fundamental reasons why the executives in the case refused to listen to their own employees, but were willing to listen to a consultant.  Discuss the main reasons why the executives still seemed apprehensive even after the consultant’s presentation.
2. Imagine that you are the consultant for the case study.  Speculate on three strategies that you could employ to get the executives to understand your point of view and thus support your project management recommendations.

Your assignment must follow these formatting requirements:

• Utilize at least (3) quality academic references.  Note: Wikis and some other websites do not qualify as academic resources.  The textbook is a good place to start, but your sources need to extend beyond the textbook.
• Typed, double spaced, Times New Roman 12 pt. font, with 1″ margins all around, citations and references must follow APA format.
• Include a cover page containing the title of the assignment, your name, Dr. Ortloff, BUS 2010-NO21B Project Management, and the date.

The specific course learning outcomes associated with this assignment are:

• Analyze the role of executive management in the life of a project
• Apply the project manager’s critical skills, in terms of project leadership, team building, time management, conflict management, and effective communication with executive sponsors, peers, team members, and project clients.
• Use technology and information resources to research issues in project management

To prepare for this Shared Practice, select one of the following options either
 

Analyze a complex value creation system using management concepts.

OR

Apply systems thinking to address challenges and opportunities managers encounter

 
Then, select three or more short passages from this week’s assigned readings in The Goal that contain one or two essential ideas that you found compelling. Analyze each using the Course Outcome you selected as a framework. (Note: Part one of The Goal outlines the various performance problems that the Bearington plant is having, so feel free to practice your systems thinking skills to explain why the plant is having such difficulties! Either course learning outcome above will allow you to do this.)
For this Shared Practice, write a 3- to 4-paragraph essay. Identify the Course Outcome you selected and the passages from Part 1 of The Goal . Explain why each passage you chose is relevant and important in effective business management. Justify your response and include citations for each passage.

To prepare for this Shared Practice, select one of the following options either
 

Analyze a complex value creation system using management concepts.

OR

Apply systems thinking to address challenges and opportunities managers encounter

 
Then, select three or more short passages from this week’s assigned readings in The Goal that contain one or two essential ideas that you found compelling. Analyze each using the Course Outcome you selected as a framework. (Note: Part one of The Goal outlines the various performance problems that the Bearington plant is having, so feel free to practice your systems thinking skills to explain why the plant is having such difficulties! Either course learning outcome above will allow you to do this.)
For this Shared Practice, write a 3- to 4-paragraph essay. Identify the Course Outcome you selected and the passages from Part 1 of The Goal . Explain why each passage you chose is relevant and important in effective business management. Justify your response and include citations for each passage.