1RISK RESPONSES Question 3 1. In this case, the treatment method that is being used is significantly identified as the “Acceptance”. This is because the client as well as the organization that is associated with the development both comes to an agreement that eases the vulnerability associated with the project. This acceptance methodology is set to be an important tool that is supposed to provide a good relationship between both the clients as well as with the organization (Hopkinson, 2017). Moreover, this maintains a transparency of the deliverable regarding the client’s requirements. 2. The treatment method that will be significant for the case study that is provided in the second question is depicted as the “Transfer Methodology”. This is because the organization in any circumstances would not want to hamper the client relationship. This is to be adhered by both the client as well as the project manager to clearly state the difficulties, as this might ease or continue to maintain the relationship of the client with the organization (Brustbauer, 2016). The team if faces such difficulty must transfer this concern to the client and by the help of a meeting the requirements must also be justified again for the smooth execution of the overall project. 3. Yes, this case adheres the treatment methodology of “Transference” as this methodology will be very effective in this case. The HR department will provide a knowledgeable person who intends to ease the work as well as provide suggestions for avoiding the law that may contravene the overall systems (Griffiths, 2016). Moreover, this case also adheres that the fact of communication may help the overall execution procedure of the organization to be seamless as well as effective for the organization. 4. Risk avoidance is stated to be a strategy of a risk response that is adhered by a project team that further eliminates the threat regarding the project from any serious impact. It mainly
2RISK RESPONSES adheres the plan of the project management that eliminates the threat within the project entirely. Whereas, Risk Acceptance is stated to be a risk response strategy that decides the acknowledgement of the risk but does not take any significant action regarding the risk.The strategy is significantly adopted, where it is impossible to address the particular risks in any way(Hajmohammad and Vachon, 2016). In this method there is a compromise situation that the organization will adhere the consequences of the risks if it is seen to be occurring.
3RISK RESPONSES References Brustbauer, J., 2016. Enterprise risk management in SMEs: Towards a structural model. International Small Business Journal,34(1), pp.70-85. Griffiths, P., 2016.Risk-based auditing. Routledge. Hajmohammad, S. and Vachon, S., 2016. Mitigation, avoidance, or acceptance? Managing supplier sustainability risk.Journal of Supply Chain Management,52(2), pp.48-65. Hopkinson, M., 2017.The project risk maturity model: Measuring and improving risk management capability. Routledge.