(PDF) Project risk management assignment

PROJECT MANAGEMENT
AND RISK

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1 ...........................................................................................................................................3
Discuss the project scope and drivers, project life cycle and project methodologies ................3
TASK 2............................................................................................................................................7
Evaluate the risks and risk management strategies and key stakeholders for this project should
be identified.................................................................................................................................7
TASK 3 .........................................................................................................................................10
Who should be included in the project team and Explain how you will minimise conflicts
between some of the key stakeholders involved in the project. ...............................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Project management is the practice of initiating, planning, executing, controlling, and closing the
work of a team to achieve specific goals and meet specific success criteria at the specified time.
This report highlights the Scope and Driver which has drive the implication of the new project in
the organization and the project life cycle of the project implement by SRG. After that the report
goes on to highlights the project methodology which can be used by the organization to
implement the project. After that the report goes on to explain the different risk associated with
the risk and the different risk management strategies which can be used by SRG and also
different stakeholder which will be require in the project. In the end report highlights the member
included in project team and the structure which will be used by the organization and the ways
through which conflict between some of the key stakeholder in the project.
TASK 1
Discuss the project scope and drivers, project life cycle and project methodologies
Project scope and Driver
Customer need: This is the biggest driver which has drive SRG to look for the digital
platform to be installed in the organization as in the hospital there are many patient whom used
to come from different background and having different sort of need and requirement and also all
the patient used to expect different sort of care from the hospital side. Implementing this
platform in the SRG will provide a scope of understanding the customer need very proficiently in
the organization as the new platform will help the organization in recognizing the patience and
also will help them in personalizing them with the type of the care they are looking (Cooper,
2019).
Quality and Efficiency: This is the another factor which has drive SRG toward the
digital platform as there is a huge competition in the market so to be competitive in the market
SRG has to make the regular changes and improves the quality of the operation so that the
organization is able to attract the customer toward the organization. Implementing this platform
in the SRG will provide a scope of increasing efficiency in the organization as this platform will
speed up the operation in the organization as it will bring quick online support and also services
like telephone service for more advice and also urgent self care appointment which will help
SRG in improving efficiency in organization.

Efficient worker: Implementation of new project will improve the quality of the human
resource in the organization as there is a good scope for the organization that the training which
will be provided to the 75 worker in the organization will help them in improving the efficiency
of the Human resource in the organization as new technology will require a couple of new skill
set from employee side (Costa, And et.al., 2018).
Project Life Cycle
Implementing project in the organization is just not a easy task for the organization
organization will be following the 4 step life cycle to implement the project in the successful way
in the organization.
Initiation: It is the first step in which SRG has make different efforts in the organization
to identify the need or the requirement which need to be changed in the organization. The biggest
need or the problem which was identified was the need of the customer and the quality of the
operation of the organization on the basis of same SRG has used the brainstorm way to find out
the solution for the different problem of the organization. The process of Initiation stage includes
Understanding feasibility study, Identify scope and Deliverables. After that identifying
stakeholder and developing a business case. In the end developing a statement of work (Enshassi
and et.al 2016).
Planning: It is the second stage of the life cycle in which SRG has plan about the
different things to implement the project in the organization which includes project initiation
document, statement of work. This is the stage in which larger work was divided into different
small work and different team were build in the organization. In this step SRG has created
project plan and workflow diagram. After that estimated budget and created the financial plan. In
the end organization has gathered resource and anticipated risk related to the project.
Execution: It is the stage in which SRG group will be executing all the plan and the
strategies which has been made by the organization in the above two step. It is the phase in
which plan which are made are turn into action. In this phase SRG has to create task and
organizing the flow. After that communicating and briefing different team member about the
plan which they have to follow. In the end SRG has to make sure that there is a quality of work
in the organization and all the work is done in the prescribed budget.
Closure: It is the last in which SRG has to manage the project in the organization and the
organization will be seeing the outcome of the project by measuring the outcome of the project

with the objective of the business. This stage will include step of analysing project performance
and team performance after that documenting project closure and conducting post implication
review and in the end accounting for used and unused budget (Arias And et.al., 2018).
Project Methodology
Project Methodology is strictly defined as a combination of logically related practices,
methods and processes that determine how best to plan, develop, control and deliver a project
throughout the continuous implementation process until successful completion and termination.
SRG group will also taking the help of the two type of project methodology to implement new
project in the organization namely Agile and Six sigma.
Agile: It is one of the most common methodology which is used by organization globally to
implement new project. SRG is using this project methodology as the project which cited firm is
looking to bring is better suited for this type of the project methodology. This methodology used
to work on the principle of Agile Manifesto. 1 Principle explains that their should be “individual
and interaction over the process and tool” same is followed by the organization as they are
looking to provide training to the employee so that they are able to understand the platform
comfortably and there is no uncertainty among them will flow the proper communication. 2
principle explains “Working software over comprehensive documentation” same is followed by
the organization as the organization is bringing this platform in the organization to speed-up the
operation in the organization by the way of providing a ‘click’ online support and information
service to book urgent appointments and self-care, a ‘call’ telephone service for more advice
with the help of new platform (Mozhayeva And et.al 2019). 3 principle explains “Customer
collaboration over contract negotiation” SRG is also looking to implement this in the
organization with the sole motive of understanding the customer need and giving them the best
treatment which they expect from the hospital. 4 principle explain “Responding to change over
following a plan” it is the last stage which explains that the organization should respond to the
situation which is in front of the organization rather than following plan as plan is made at the
initial stage it is not possible to predict all the future happening in advance.
Six Sigma: Six Sigma is the another project methodology which will help the SRG in
implementing the new project in the organization. Six sigma looks at eliminating the different
error in the process by identify the issue in the production and removing it from the production.
Their are two type of the project methodology in Six Sigma namely DMAIC and DMADV.

DMAIC is the process which looks at improving business processes. This project methodology
used to look at improving business processes in the organization. Generally this methodology
used to define the problem which is faced by the organization that is customer need in above
scenario (Salem and Tayeh, 2018). After that this methodology used to compare the current
process of the company with the new one and on the basis of that they used to find the defects in
a process. After that organization will implement the change in the organization and will monitor
the change in process on regular basis. This is the methodology which can be of use for the SRG
as they have also find out the problem that is customer need and quality and after that they have
introduce the new platform in the organization which will can remove the same problem from
the operation of the business.
DMADV which is more for creating new processes, products or services can be useful for SRG
in past but it is of no use for organization in current project (Sadgrove, 2016).
Time Line
Activiti
es/
Month
1 2 3 4 5 6 7
Need
Recogn
ition
Plannin
g about
new
project
Resour
ce
Gatheri
ng

Develo
pment
of the
project
Installa
tion of
Project
Trainin
g of
Employ
ee
Mainte
nance
Budget
Factors Amount
Research and Development £1.50.000
Training £ 75.000
Installation £ 2.00.000
Maintenance £ 75.000
Total £ 5.00.000
TASK 2
Evaluate the risks and risk management strategies and key stakeholders for this project should be
identified
RISK
Schedule Risk: It is one of the most common type of risk which arises at the time of
implementing new platform in the organization. Specially in the Digital platform project as this

is the technical project it is done in the specific time period as in technical task one task is linked
with the other and done on the basis of other (Aven, 2016). Some of the reason which can create
this risk is as follow:
 Wrong time estimation
 not proper tackling of resource
 Find it difficult to identify complex functionalities
 Unexpected project scope and expansion
Operational Risk: This is the another risk associated with the SRG new platform which is risks
of loss due to improper process implementation failed system or some external events risks. This
risk may occur due to:
 Failure to address conflict
 Failure to resolve responsibility
 No resource planning
 No communication in team
Employee Turnover: Their are many employee in the organization which do not like to go for
the training as they feel that they are good enough to perform any task in the organization.
Giving training to this type of the employee may create uncertainty in their mind and may result
in increasing Employee Turnover rate in the organization.
RISK MANAGEMENT STRATEGIES
SRG will be using the management strategy to manage the risk effectively in the organization
Identify The Risk: It is the first stage in which the organization will identify the different type
of the risk associated with the project the are implementing.
Analyse The Risk: After that the organization will be seeing the potentiality of all the risk by
seeing the potential effects that each will have on consumer behaviour.
Evaluate The Risk: It is the stage in which ranking will be done by the organization to all the
risk on the basis of the impact and the occurrence of the risk. Higher the impact higher will be
the ranking (Glukhov, Ilin and Levina, 2015).
Treat the risk: It is the stage where organization will look to think the best way through which
the impact of the risk can be reduce. This stage of risk assessment, preventative and contingency
should be prepared so that there are no surprises as your move forward with action plans.

Monitor the risk: It is the next step in which organization will be monitoring the risk by
tracking involved variable and proposed possible threat to chain reaction which will help them
business in identifying the change.
Different risk management strategy
Reduction: It is the strategy in which organization has to reduce the the weight of both risk and
reward. The reduction will require some process and plan manipulation, but it will save company
from a severe loss in the case of high risk manifestation.
Avoidance: It is the strategy in which risk is avoided altogether but at the same time it will
create a situation in which all the opportunity and the reward will also be avoided (Shearer,
2016).
Stakeholder for the project
On the basis of Mendelow Matrix this are the four stakeholder which is use full for the project of
SRG:
High Power, High Interest
Employee: It is one of the most important stakeholder for implementation and the monitoring of
the project in SRG as they are the one who will be carrying out each and every task in the
organization. In return organization also has to make sure that they offer the good amount of
motivation to the employee in the form of incentive and reward to all the employee in the
organization so that they feel motivated in the organization.
High power, less interested
Government Authority: This is another most important stakeholder for the project as
organization has to take the permission from the different government authority before
implementing the platform as government always make sure that the project which is
implemented is safe enough for employee and environment.
Low power, highly interested
Banks: This are also a important stakeholder for the project as they can provide the finance for
the business to implement the different changes in the project. In return organization also has to
pay the sort of the interest to the banks (Tripathy and Sarangi, 2019).
Low power, less interested
Media: This are the stakeholder which is important for the project as this stakeholder used to
provide the different sort of the information which can help the business in implementing the

project. Organization can also take the help of the stakeholder to promote the awareness about
the new product in the market very easily and also to the large coverage which will help
organization in getting competitive advantage.
TASK 3
Who should be included in the project team and Explain how you will minimise conflicts
between some of the key stakeholders involved in the project.
Project team is the team or the group of the member usually belonging to the different groups
and having different function and are assigned by the project manager to activities for the same
project. The essential team member for the SRG project is as follow:
Project Manager: Project manager used to play a very crucial hand in implementing the project
in the organization as Project manager used to lead the project team. Project manager is the one
who used to give the order and authority to the different team member to perform the activity
accordingly to achieve the objective of implementing the project successfully in the organization.
Partner and financial Stakeholder: Partners and Financial stakeholder also used to play a
crucial role in the project implication as they are the one who used to provide the best
information about the way they can reduce the cost of the implication and also they can provide
the information regarding the market condition and happening in the market (Schünemann and
et.al., 2015).
Service provider: They are the another key member of the project team of SRG as they are the
one who will be proving the digital platform training to the employee and they can be the one
who will be providing the raw material for the project for the organization so it is important to
include them in the team.
Staff: They are the one who will carrying out all the work related to the project in the
organization. They are the one who will be performing all the order which will be pass on by the
senior authority in the project team with the purpose of implementing the project in the
organization (Sadgrove, 2016).

Organization should use the Hierarchical structure in the organization to implement the project in
the organization as the hierarchical structure will help the SRG in passing on the clarity in the
organization as all the employee will be having one clear supervisor to report. Another benefit of
using this structure is that it will help the SRG in finding out the deficiency very quickly as
compare to the other structure as organization is having the proper idea about who is performing
which task and what is the department which is lacking behind in performing the task on the
basis of that SRG can implement the change immediately to improve the performance of that
Department also. Structure will be project manager will be head and will pass on all the order to
the Department head and all the department will be having 16 employee each. Any query of
employee will be solved by head of department and then will be pass on to the Project manager
in the team (Glukhov, Ilin and Levina, 2015).
Conflict management
Communication: It is the best way through which the conflict can be minimized in the
organization in this way the organization will be allowing the free flow of the communication in
between the different stakeholder. This will be done by organizing different formal and informal
meeting in the organization in which all the stakeholder will be invited and all the relevant
information will be pass on to them and also will ask for the suggestion from their side so that
there is clarity of mind in between them which will eventually reduce the chance of conflict in
the organization.
Trust: SRG will also try to build a trust among the different department in the organization by
the way of building the trust factor among them. It will be done by the organization by allocating
the task where all the stakeholder will interact with each and all the stakeholder will be depended
on each for completing the task this will help the company in building the trust factor among
different stakeholder (Mozhayeva And et.al 2019).
CONCLUSION
After going through the above report it has been summarized that customer need and the quality
are the two factor which has drive the organization in implementing new project in the
organization. After that report summarized that Agile and Six sigma are two methodology which
can be used by SRG. After that the report summarized that stakeholder used to play a very
crucial role in the implication of the new project in the organization. In the end report
summarized that Project Manager, Partner and financial Stakeholder, Service provider and Staff

are the key member of project team of the organization and also summarized that communication
and trust can manage conflict successfully in the organization.

REFERENCES
Books and Journals
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results summary.
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foundation. European Journal of Operational Research. 253(1). pp.1-13.
Cooper, R. G., 2019. The drivers of success in new-product development. Industrial Marketing
Management, 76, pp.36-47.
Costa, N. D. And et.al., 2018. Definition of key drivers for project success regarding the General
Data Protection Regulation. Definition of key drivers for project success regarding the
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Enshassi and et.al 2016. Factors affecting sustainable performance of construction projects
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Shearer, M.P., 2016. Project Team.
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