Engineering Risk and Risk Management 7 Essay May 24 2018 Engineering Risk and Risk Management
Added on 2021-04-21
10 Pages2908 Words474 Views
Leadership ManagementMaterials Science and Engineering
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Running Head: ENGINERERING RISK AND RISK MANAGEMENTEssay Engineering Risk and Risk Management
ENGINERERING RISK AND RISK MANAGEMENT1Engineering projects need to be managed by proper systematic engineering practices. Systematic engineering practices are essential for planning process of engineering projects ona larger scale. Roots of the systematic engineering are in principles, fundamentals, associated management, and engineering sciences[ CITATION Ker17 \l 16393 ]. Projects of larger scaleneed an effective management to operate the project in a systematic way without any risk. Projects of large scale are to be considered top priority for the management. In such projects, the term project management is defined as the practice of initiating, planning, executing, and controlling the project till the closing of project to meet or achieve the goals and success criteria of the project for a specific time period[ CITATION Ker17 \l 16393 ]. This process ofcompleting a project in a systematic way is much needed in engineering projects. Engineeringprojects are associated with the same level of risk as that of the level engineering practices are involve in the project. In these engineering projects, associated with high risk, projects management has much importance[ CITATION Bar11 \l 16393 ]. This discussion briefly describes the basics of project management such as systems management, organizational structures, form, culture, engineering risks associated, risk management, portfolio alignment, business value, and organizational maturity[ CITATION Bar11 \l 16393 ].Engineering project management consists of the systems management. In the past few decades the management philosophies and organizational theories have undergone a drastic change with the emergence of different strategic project management approaches to the management. In the last 4-5 decades different theories have been developed and state the need of a systems management as an effective communication need. Engineering projects include subsystems which need to be provided with an effective communication to the other systems[ CITATION Ker17 \l 16393 ]. After the development of these theories executives have realised the need of effective communication in engineering projects and introduced a separate management for the communication management throughout the project life cycle.
ENGINERERING RISK AND RISK MANAGEMENT2As the engineering projects are associated with initiation, planning, execution, and implementation of different operation, importance of communication management or systemsmanagement increases significantly. Engineering projects are complex in operations and they need to be executed in the specified sequence depending on the order of operation sequence[ CITATION Lau11 \l 16393 ]. Such engineering projects have an organizational structure to be followed at each stage of the processes. This organizational structure is defined as a stable, either spontaneous or planned, patter of interaction and actions members of the organization undertake to achieve the goals of the organization[ CITATION Ker17 \l 16393 ]. This definition of organizational structure is based on the assumption that the organizational structure is purposeful. This purposefulness of the organizational structure defines that this structure is an instrument for the organization governing people, used to direct the course of different activities to achieve the organization goals[ CITATION Gra11 \l 16393 ]. Models of organizational structure, a particular structure dimensions’ configuration, direct and shape the order or way in which members of the organization perform their individual tasks in achieving goals of the organization. This structure is completely different in different organizations[ CITATION Sha15 \l 16393 ]. In the past few decades these has been a hidden revolution or development of the organizational structures. Management of such engineering projects has been realized that the organization must possess a dynamic structure which means organizations must be capable of quick restructuring. This structure of an organization is related or associated with the working culture of an organization[ CITATION Ker17 \l 16393 ]. Employees working on such engineering projects need to be familiar with the organizational structure as they follow a particular culture in the organization. Culture of an organization is one of the success determining factors of management practices in engineering projects especially in projects associated with complex engineering practices. Engineering projects like offshore drilling
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