Developing a Risk Management Plan for Gatwick Airport Expansion Project

This dissertation aims to develop a risk management plan for the Gatwick Airport Expansion Project in London. It identifies the major inputs, applies appropriate tools and techniques, determines the outputs, and suggests suitable strategies for managing risks. The dissertation follows a specific structure and uses appropriate methods for analysis.

PROJECT MANAGEMENT

TABLE OF CONTENTS
Topic................................................................................................................................................1
Background......................................................................................................................................1
Project rational.................................................................................................................................1
Aim and objectives..........................................................................................................................2
Research question............................................................................................................................2
Dissertation structure.......................................................................................................................2
Framework and analysis..................................................................................................................3
References........................................................................................................................................4

TOPIC
To develop a risk management plan for Gatwick Airport Expansion Project (GAEP) London
BACKGROUND
Project risk management can be defined as a process of managing different types of risks
which are associated with the project. These are risk management, determination, analysis,
response planning as well as monitoring and control (Kubasek, Brennan and Browne, 2016).
Major objective of this process is to reduce negative impacts of different uncertainties on project
completion. Kutsch and et.al, 2015 has concluded that “risk management plan comprises of
inputs, tools as well as techniques and outputs” (Kutsch and et.al, 2015). As per this statement,
project manager needs to apply suitable inputs and methods for getting appropriate outputs or
reducing impact of distinct uncertainties of project. Risk management inputs include different
attributes which play an important role for analysing all risks and their impacts on the complete
project and its objectives. Major inputs of risk management plan are project management plan,
project charter, stakeholder register, enterprise environmental factor and organization procedures
and assets, etc. (PMBOK, 2013).
All these elements help in analysing risk in an effective manner by which project
manager can take appropriate actions to resolve the specific problem. Further, there are number
of tools and techniques which can be used by the manager to manage risks of project. These are
expert’s judgement, meetings and analytical techniques. Project manager should allocate
appropriate resources to different teams for managing different types of risks by using suitable
method. Major outcomes of risk management plan are risk register, project documents, work
performance information, change request, organizational process assets updates, etc. All these
outcomes provide assistance in determining that whether project manager has managed
associated risks in an effective manner or not. Overall, it can be said that success of the project
totally depends upon risk management plan (Stettina and Hörz, 2015).
PROJECT RATIONAL
Each and every project is associated with different types of risks which can influence
their outcomes and performance in a negative manner Due to some specific uncertainties, project
cannot attain objectives in an effective manner. So, managing risk is one of the major problems
for the manager of project. It is an issue as manager of organization needs to develop an
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appropriate plan for managing risks. Inappropriate planning leads to failure of the project. So, it
is considered as a major research issue. It is an issue now because Gatwick Airport has invested a
huge amount of money for its Expansion Project (Gatwick Airport Expansion, London, United
Kingdom, 2016). But, still it is facing issues in managing risks. So, author has decided to develop
a risk management plan for GAEP. Regarding this, study will focus on risk management inputs,
tools and techniques as well as outputs.
AIM AND OBJECTIVES
Aim
“To develop a risk management plan for Gatwick Airport Expansion Project London”.
Objectives
 To identify major inputs which play an important role in risk management plan of GAEP.
 To apply appropriate tools and techniques for managing different risks in GAE project.
 To determine the major outputs of risk management plan of Gatwick Airport Expansion
Project.
 To suggest suitable strategies for managing risks of Gatwick Airport Expansion Project.
RESEARCH QUESTION
1. How to develop risk management plan for Gatwick Airport Expansion Project?
2. What are the major inputs that will be required for risk management plan of GAEP?
3. Which tools and techniques can be used by the project manager for managing risks of
Gatwick Airport Expansion Project?
4. What are the major outputs of risk management plan of Gatwick Airport Expansion
Project?
DISSERTATION STRUCTURE
For completing whole dissertation, author will follow a specific structure that will
comprise of different chapters such as introduction, literature review, research methodology, data
analysis, conclusion and recommendations. Introduction chapter will comprise of brief overview
of the whole study. Similarly, literature will focus on historical articles which has been
completed in the past on similar subjects. Along with this, research methodology will include a
detailed discussion of all tools and techniques which will be used by the researcher for this study.
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Afterwards, data analysis will disclose the findings of research objectives that will play an
important role in making the final conclusion and recommendations (Garner and Scott, 2013).
FRAMEWORK AND ANALYSIS
Researcher will use appropriate methods for conducting investigation on risk
management plan for Gatwick Airport Expansion project (Creswell, 2013). Positivism
philosophy, descriptive research design, deductive approach as well as qualitative and
quantitative strategies will be used by the researcher for developing risk management plan.
Along with this, author will collect information by using both primary and secondary data
collection methods. Further, researcher will use random sampling methods for choosing a sample
of project management experts. For analysing the collected information, author will use thematic
and statistical analysis methods. These tools and techniques will resolve the research issue in an
appropriate way (Sadgrove, 2016).
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REFERENCES
Books and Journals
Creswell, J. W., 2013. Research design: Qualitative, quantitative, and mixed methods
approaches. Sage publications.
Garner, R. and Scott, G. M., 2013. Doing qualitative research: designs, methods, and
techniques. Pearson Education.
Kubasek, N. K., Brennan, B. A. and Browne, M. N., 2016. The legal environment of business: A
critical thinking approach. Pearson.
Kutsch, E. and et.al., 2015. The Contribution of the Project Management Office: A Balanced
Scorecard Perspective. Information Systems Management. 32(2). pp.105-118.
PMBOK, 2013. Project Management Institute, Inc.
Sadgrove, K., 2016. The complete guide to business risk management. Routledge.
Stettina, C. J. and Hörz, J., 2015. Agile portfolio management: An empirical perspective on the
practice in use. International Journal of Project Management. 33(1). pp.140-152.
Online
Gatwick Airport Expansion, London, United Kingdom. 2016. [Online]. Available through:
<http://www.airport-technology.com/projects/gatwick-airport-expansion-london/>.
[Accessed on 8th October 2016].
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