Briargrove Project (Mini-Case A)

Briargrove Project (Mini-Case A)

Introduction

Risk management is an important and critical aspect of any project or task. It helps to identify and be prepared for any potential risks or problems that might occur in the due course of the project or task. The purpose of this essay is to consider the risk situation in the case of Briargrove Project to lay the foundations for the organizations learning library.

Discussion

Risks That Sneak Up

Despite of the fact that risk identification has been done in the initial phase, it is possible that new risk might emerge which were not anticipated in the initial phase. It is; therefore, essential that the risks are identified and managed for the entire life cycle of a project. This section describes two methods for capturing the additional risks that might otherwise be missed.

Two methods for capturing the additional risks involved or emerge include variance and trend analysis and internal and external risk audits (Kendrick, 2009). Variance and trend analysis include comparing the actual performance and progress of the project with the planned or anticipated on throughout the life cycle of the project so as to identify any unanticipated and unseen deviation or risks that might have emerged. Risk audits including an audit of the risk identification and response strategies of the project by some internal or external parties or both. This might help to identify the risks which the project management or the risk management team might not have seen or able to see (Heagney, 2011).

In the case of Briargrove Project, the two methods have been used so as to identify and handle the unforeseen risk in the timely manner. Variance and trend analysis would have been carried out for the departments or the divisions where the project was initially implemented for a considerable time. ...