PROJECT RISK MANAGEMENT

Project Risk Management

Project Risk Management

Introduction

Project Management is primarily the management of uncertainty. Uncertainty is an integral part of the project activity, which aims to create a unique, new products and services, obtaining results that cannot be achieved within the framework of operations. Therefore, one can hardly overestimate the importance of project risk management. Organizations involved in integrated risk management gather relevant information for decision making and thus improve the achievement of their goals. It is therefore important to directly involve the risk management objectives at all levels of the organization. If risk management does not seem to facilitate the decision making process could be seen as an administrative requirement that is impossible to ignore.

Organizations should develop a strategy or plan of communication to supplement their approach and process of risk management. To develop their communication mechanisms and risk reports, departments and agencies should use internal communication specialists and specialists in their portfolio and other centers of expertise in order to ensure that the message communicated is consistent and easily understandable. Communication practices should focus on the clarity of the message to allow a general understanding of the information transmitted.

Part 1

Organizations all over the world struggle to maintain a foothold in a whirlwind of technological innovation, customer requirements, competitive pressures, globalization and economic fluctuations and global systems; with the knowledge that none of these powers can be turned into a business model upside down in an instant. Based on New paradigms, such as the principles of Complexity Theory Chaos, Dynamic Systems and Constructivism, consider strategies design is designing meanings, creating realities. The world is being reconfigured based on interaction and the emergence of meanings from interaction increasingly more complex and dynamic relationship between the organization and its publics. In this sense, it is proposed that the uncertainty management is in no process management in developing isolated elements (Frenz 1997, 427).

The first question encompasses is how to manage the risk and uncertainty in projects. According to Ward & Chapman (2011), the organizational environment is a continuum of emergent events. Reality is not corporate photography. New and unexpected meanings appear in the daily routine of corporate events from different relationships with audiences. People are not mere spectators of staging predetermines given from the organization, but they are the stars of their perceptions from the interaction. Argued by Joan Costa when the individual approaches a product, it passes to experience a relationship with the object or product. The relationship is marked and signified from the experience. The central message of the new sciences for organizations is this: the organizations are power systems that generate behavior retro resort where linking cause and effect are broken. The order designed mentally is replaced by an emergent order from instability through processes of self-organization (Kaplan 2009, p. 68).

Most leaders do not make ready or face the dynamics of these days because they lack an appreciation of the tension between the increasingly complex demands of the environment and the limited resources available to help organizations in these ...