ASSIGNMENT 4 PROJECT COMMUNICATION AND RISK MANAGEMENT SECTION A QUESTION 1 1.1 Based on the case study above, was there a risk management plan in place for this landscaping project? 1.2 How should one identify or classify the risk associated with this project? 1.3 How does one respond to the risk associated with this project? 1.4 What steps should be followed to develop a risk management plan process by the project manager? QUESTION 2 2.1 Briefly discuss the importance of communication in project management. 2.2 Critically analyse the mode of communication used on this project. 2.3 Discuss how regular submission of progress reports by Arbor to ACME Industries would have helped project. SECTION B QUESTION 3 Communications is one of the most effective fire-fighting tools for projects. It doesn’t have to be complex to be effective, and it can be rolled out quickly. Communication in projects can be filtered, blocked or distorted in a project environment. Discuss the barriers to communication and propose actions to overcome such barriers within an organisation. QUESTION 4 Below are four categories of risk and ways that a company is currently handling the risks. Which risk handling options are being used? a) A company is handling its high R&D financial risk by taking on partners and hiring subcontractors. The partners/subcontractors are expected to invest some of their own funds in the R&D effort in exchange for sole-source, long-term production contracts if the product undergoes successful commercialization. b) A company has decided to handle its marketing risks by offering a family of products to its customer base. Different Features exist for each product offered. c) A company has product lines with a life expectancy of ten years or more. The company is handling its technical risks by performing extensive testing on new components and performing parallel technical development efforts for downstream enhancements. d) A company has large manufacturing costs for its high-tech products. The company will not begin production unit it has a firm commitment for a certain quantity. The company uses learning curves and project management to control its costs. Bibliography REFERENCES
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