Detailed Report on Risk Treatment Methods in Project Management

This report provides an analysis of risk treatment methods within the context of project management. It examines a scenario involving the development of an iOS, Android, and Windows Phone application, highlighting the risks associated with the Windows platform due to team inexperience and functional limitations. The report identifies risk mitigation as the chosen treatment method, emphasizing the need for technical training and the removal of Windows compatibility. Additionally, it addresses the issue of resource identification and allocation, illustrating the use of risk transfer by involving the HR department. The report differentiates between risk avoidance and risk acceptance, elaborating on their processes and implications for project development. The report references several sources, including Badewi, Cagliano, Falkner, Iqbal, Kendrick, and Kerzner, to support the analysis of the various risk treatment strategies.

Running head: RISK TREATMENT METHOD
Question 3: Risk treatment method
In this case scenario tit has been determined that a project team is developing an ios app,
android as well as windows phone. However, the developers have identified major issues with
the windows device. The risk that has been identified for the issue is lack of experience among
the project team members (Iqbal et al. 2015). In addition to this, window is also not capable of
doing some functions and operations. The risk treatment method that has been considered for this
is risk mitigation.
In order to resolve this particular identified risk, windows compatibility should be
removed and for that technical training and development is required for each of the project team
associates (Kerzner 2017). The development head is required to arrange technical and non
technical training and development program for all the team associates.
While managing a project, a project that is using subroutines as well as libraries from
numbers of different sources the issue that may arise is insufficient resource identification and
allocation. The resources for each activity are required to be identified (Kendrick 2015). For
resolving this risk the project manager has consulted to the project HR department. This risk
treatment is an example of risk transfer.
The project manager is not being able to resolve this risk rather the risk transferring to the
HR department which implies that in this case, risk is not getting resolved by the project
manager rather it will be resolved by the HR department.

1RISK TREATMENT METHOD
There are is difference between risk avoidance and risk acceptance. The differences are
elaborated in the bellow section:
The processes of risk avoidance include risk identification, decision making with no
longer engagement with the ongoing risk (Cagliano, Grimaldi and Rafele 2015). It is based on
properly informed decisions which are one of the best courses of action. This approach is much
beneficial for any project development team. On the other hand, risk acceptance is a choice that a
project team makes while none of the other four choices exceeds.

2RISK TREATMENT METHOD
References
Badewi, A., 2016. The impact of project management (PM) and benefits management (BM)
practices on project success: Towards developing a project benefits governance
framework. International Journal of Project Management, 34(4), pp.761-778.
Cagliano, A.C., Grimaldi, S. and Rafele, C., 2015. Choosing project risk management
techniques. A theoretical framework. Journal of Risk Research, 18(2), pp.232-248.
Falkner, E.M. and Hiebl, M.R., 2015. Risk management in SMEs: a systematic review of
available evidence. The Journal of Risk Finance, 16(2), pp.122-144.
Iqbal, S., Choudhry, R.M., Holschemacher, K., Ali, A. and Tamošaitienė, J., 2015. Risk
management in construction projects. Technological and Economic Development of
Economy, 21(1), pp.65-78.
Kendrick, T., 2015. Identifying and managing project risk: essential tools for failure-proofing
your project. Amacom.
Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.