Mini-Project (Second) Essay Example | Topics and Well Written Essays - 1000 words

Mini-Project (Second) - Essay Example in all management projects contain insecuritys of one sort or another. These arise from interactions between the project objectives and uncertainty. A risk is an uncertain event which, should it occur, would have an effect on achieving the objectives. (APM PRAM Guide, 1997) The business, technical and project risks be listed below. The squeeze level of each risk is stated in the table, and these are given ratings and assigned priorities. Important recommendations are given on how the risks should have been managed.6. Change in production train specification made it incumbent to add another five feet to the length of the rising building (only discovered when holding down bolts for the new train were laid out on site). Similarly for catalogue descriptions and specifications for other equipment6. Manufacturing drawings for the critical long-lead equipment sat in a junior clerks in-tray awaiting approval and caused a two week detainment and con tributing to a later construction schedule conflict in tying-in the new services indecision (or probability of occurrence) is classified as either very low (1), low (2), medium (3), high (4) or very high (5). The impact level is graded and scored the same. The two figures are multiplied to give the anteriority rating.The fact that not all stakeholders roles were clearly defined and especially that the project managers were not even advised of the importance of some stakeholders until much later was a great risk. For instance, The VP Production and VP Sales and Estimating were important stakeholders who got have-to doe with in the project much later than they should have been. (Group 1) And, the local inspection authoritys latest safety standards were not taken into account for the paint disposal arrangements. This was a potential environmental risk.The unforesightful pre-planning was another great risk and an important part of this was project design, budgeting and scheduling.