Project Management Project 2: Risk Register and Mitigation

This project management assignment focuses on the development and analysis of a risk register for a project, likely related to environmental or ethical issues, possibly at QAHE University. The assignment begins with an introduction to risk registers as tools for mitigating project hazards. The main body presents a detailed risk register table, categorizing risks into financial, operational, and reputational domains. Each risk is assessed in terms of likelihood and impact, both before and after mitigation strategies are applied. The table includes specific mitigation plans, contingency plans, and the responsible owner for each risk. The assignment emphasizes the role of risk registers in reducing project impacts and supporting effective project planning, particularly in the context of achieving environmental protection goals. The conclusion summarizes the importance of the risk register in aiding the project's success. The document includes a list of references, citing academic journals and books related to project management and risk assessment.

Project
Management
(Project 2)
1

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Risk register................................................................................................................................3
Role of risk registers for a project...............................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
2

INTRODUCTION
Risk register can be defined as a tool, that helps project managers to reduce the impacts
of different hazards that are connected to the projection (Chen and et. al., 2019). At the time of
developing project (QAHE) in relation to protect the atmosphere for all types of ethical and
environmental issues.
MAIN BODY
Risk register
Severity prior
to mitigation
Severity after
mitigation
Fi
na
nci
al
Lik
elih
ood
Imp
act
Rati
ng
Mitigations Lik
elih
ood
Imp
act
Rati
ng
Contingency
Plans
Stat
us
Owner
F1 Improper
portion of
budgetary
resources to
conduct
project
3 2 6
Adopting a
budget
management
Model 2 2 4
Development
of a budget
related plan
In
progr
ess
Financ
e
manag
er
F2 Acquisition of
financial
resources
would lead
resources.
3 2 6
Appropriate
action will be
taken into
consideration
2 3 6
Development
of various
strategies
New Financ
e
Directo
r
F3 Higher
expenses 3 2 6
Formulation of
an appropriate
budget 2 3 6
Analysis of all
the different
sections.
In
progr
ess
Financ
e
manag
er
3

F4 Lack of
investing
resources and
elements as
well
3 2 6
Compound of
different
elements. 2 3 6
Proper
evaluation of
various
elements.
Financ
e
directo
r
Op
era
tio
nal
Lik
elih
ood
Imp
act
Rati
ng
Mitigations Lik
elih
ood
Imp
act
Rati
ng
Contingency
Plans
Stat
us
Owner
O1 Consideration
of the
appropriate
activities 2 1 2
Lifting up the
exhibition of
undertaking so
as to
accomplish set
objectives
3 2 6
Setting much
more
appropriate
structure to
finish
exercises of
venture
Acti
ons
in
progr
ess
Project
Team
O2 Absence of
connection
between
various
exercises of
venture
2 1 2
Keep up
correspondenc
e between
various
elements of
the task
3 1 3
Spurring the
different
representatives
to work on the
whole and
coordinate
undertaking
exercises
Clos
ed
Team
O3 Lack of
appropriate
functioning of
all the project
related tasks.
3 2 6
Appropriate
alterations
4 1 4
Development
of innovative
strategies.
In
progr
ess
Manag
ers
4

Re
so
ur
ces
Lik
elih
ood
Imp
act
Rati
ng
Mitigations Lik
elih
ood
Imp
act
Rati
ng
Contingency
Plans
Stat
us
Owner
R1 Absence of
different assets
for performing
the project
exercises
3 2 6
Give input to
workers with
the goal that
they can
improve their
abilities
1 2 2
Prepare and
create
representatives
so as to build
their abilities
Still
in
actio
n
Operati
onal
manag
er
R2 Providers
neglect to give
precise and
proper assets
to finishing
project
3 1 3
Speak with
various
providers to
gather assets 1 3 3
Collect assets
for various
providers
In
progr
ess
Project
manag
er
R3 Absence of
advance
innovation to
execution of
project
Using advance
innovation
related
strategies
Actualize new
and
imaginative
techniques for
performing
different tasks
In
progr
ess
Operati
onal
manag
er
Role of risk registers for a project
Primal role of building up a hazard related register may aid QAHE University in reducing
the number of risks and their impacts upon the project that has been developed (Kerzner, 2019).
Also, it is said that considering risk registers has developed a range of plans and the procedures
as well in relation to compelling designs to deal with a number of issues and risks as well
(Diletta and et. al., 2019).
5

Since, the project is linking with the protection of a particular atmosphere, it will directly
aid QAHE in hitting their targets i.e. project planning for betterment of atmosphere in specific
time frame. Away with this, it is also said that QAHE may also consider different range of plans
and procedures in attaining all the desired goals and objectives in desired time frame (Fewings
and Henjewele, 2019).
CONCLUSION
Considering the above mentioned report, it is being concluded that preparation of a
project management plan, would directly aid QAHE in looking among different range of risks in
relation to atmosphere for all types of ethical and environmental issues.
6

REFERENCES
Books and Journals
Chen, T. and et. al., 2019. How do project management competencies change within the project
management career model in large Chinese construction companies?. International
Journal of Project Management, 37(3), pp.485-500.
Diletta, C. I. And et. al., 2019. REGULATORY CHALLENGES OF NUCLEAR
DECOMMISSIONING PROJECTS AND PROGRAMMES FROM THE VIEWPOINT
OF PROJECT MANAGEMENT. In Proceedings of the... International Conference on
Nuclear Engineering. Book of abstracts: ICONE (Vol. 2019, p. 1827). 一一一一一一 一一一一一一.
Fewings, P. and Henjewele, C., 2019. Construction project management: an integrated
approach. Routledge.
Kerzner, H., 2019. Using the project management maturity model: strategic planning for project
management. John Wiley & Sons.
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