Risk Response Plan

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Use the same company/project idea you used in the Week 2 Learning Team assignment. See attached.

Write a 1,050- to 1,400-word paper in which you address each of the following items:

  • What is the purpose of a risk response plan?
  • What is a risk owner?
  • Who should be appointed to own risk on a project?
  • What is a risk owner’s role in the risk response plan?
  • How should a project manager assess and deal with risk?
  • List and describe the most common areas of the project where risks can originate.
  • List and discuss at least two types of risk for each area.
  • In the project you discussed in Week 1, what were the risks, and how were they handled? Should they have been handled differently?

Format your paper consistent with APA guidelines.

Project Management German Levitan 

Fundamentals of the team structure

While developing the team to work on specific project the six fundamentals to take into consideration are:

Team composition

Team mindset

Team size, team interaction

Team identity (Katzenbach, & Smith, 2018)

Team governance

Team size is very crucial however the law of diminishing return asserts that just because the size of the team happen to be doubled, it does not mean that the production will be improved. A large team increases communication problems and it is hard to coordinate the participant based on specific task. Social loafing is bound to happen as other team leave work on others because there is unbalance in task a location. Team composition has to do with selecting the members of the team with the right skills based on the project task (Katzenbach, & Smith, 2018). Team governance on the other hand involves how the team is being managed and this includes manager-led teams where there is minimal control on the team, self-managed team have objective to work but they can do so if they are willing, self-governance team and the self-directed teams. Team identity is whereby each member of the team want to feel as though they are part of the team. Team interaction looks at the communication between team members via emails or the phone calls and team mindset revolves around being on the same page based on understanding of the goal and mindset.

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Fundamentals of the team structure

The team should maintain control of the team project management

Effective team should look at themselves as a cohesive unit to function well (Team, 2019)

Planning, implementation and organizing of the project plan should be efficient.

Team interaction is important and should be geographically dependent and technologically included such as video conferences to save time.

A like mind set of the team is crucial in terms of roles, goals and the team norms

Team governance is important. Sometimes managers take control of the team and members lack autonomy and are only told what to do. While face to face communication is admired by many people video conferences is convenient when it comes to saving time and money to travel to the conferences (Katzenbach, & Smith, 2018). Additionally, the team members who happen to have similar mindsets involving being on the same line in terms of riles, norms and same level of understand, makes the project to run smoothly. Sometimes conflict of interest can delay the completion of the project on time.

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Stages of team model

The development of the team throughout the project lifecycle is imperative to the attaining the goal of the project

The team should not remain the team of individual who are only assigned the task, but should group as people who can complete tasks in specific group

The project has reached at the stage two of the project life cycle which happens to be storming

The group has already passed through forming portion and specific objectives and goals has already been set

Introduction of the team has been done and project leaders chosen

During forming stage, members of the team are not only nervous and excited at the same time, but are eager to find out about their roles in the specific project. The team members have anxieties based on not fitting into the team or reaching the expected performance (Team, 2019). Members at this stage asks a lot of question and objectives and goal issues are vividly discussed at this stage. The crucial part of this stage is founding the structure and direction of the group for the project at hand.

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Stages of team model

Storming is the stage model that will be applied in this project

Storming entails pushing against the boundaries and it has to do with discovering the conflict concerning direction of the project underhand (Team, 2019)

After completing the forming stage, the team is entering in the storming stage. The stage in normal cases if not handled well can be hectic and derails everything behind. However with the help of smooth and active communication the stage can be efficiently handled. The storming stage is considered difficulty because people have issue with working in the unfamiliar ways and engaging in diverse working styles. Storming is also a result of power play in the team or a questioning of group leadership and authority.

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Project life cycle

Project initiation

Project planning

Project launch

Project execution

Project closing

Each and every project goes through maximum of five stages. During the initiation stage, the project managers figures out what is what. During the planning stage, the team plan and organize the project in order to become ready for the launching goal. Project launch is the actual period when the project actual starts and the team members should work together to execute the project. Project execution is a stage where the team makes the project happen and everyone has to conduct their role to reach this stage. Then project closing stage has to do with completion of the project and delivering it to the stakeholders

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Project life cycle

The stages in lifecycle of the project guides the project through the entire processor cycle.

The project in its early stages engages in initiation and planning

The needs of stakeholder will vary and definitely result to conflict of interest at some point

Team leader or project leaders should anticipate and respond to their needs amicably

Project initiation and planning starts immediately the project work begins on the project and entails a lot of organizing and activities around preparing of the product launch. The stages important in detecting whether the project will requires certain resources. Deliverables issues is also addressed during this stage. The project launch occur immediately the project team begin executing the deliverables. During the early stage of the product launch, the team members solely relies on their leaders for guidance and with time they become knowledgeable and skilled and then execute their responsibilities without much effort.

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Team leadership needed at each stage

Situational leadership

Directive leadership

Selling leadership

Participative leadership

Delegative leadership

Directive leadership has to do with direct communication between the team and the leader. It is an orientation stage primarily focusing on the team roles (Team, 2019). Selling leadership on the other hand looks at ways of making the team members understand their roles in the project and aware of all factors concerning the project. Participative leadership permits the members who show interest in having numerous responsibility within the project to take part in the decision making process. And Delegative leadership looks at how leaders can hand off tasks to the members who have displayed ability in the task.

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Stages of leadership

Project leadership is required throughout the whole project lifecycle

Project leadership motivate and influence the rest of the tram members

Leadership also gives direction of the project

Leadership may unite the entire team or separate them

During the storming stage, leadership is primarily required to help the team members determine the scope of project and what is to be delivered and people who are going to be involved (Team, 2019). Directing style from the project leader, minimizes the chances of disorder and as such the members stick to their role to attain the projected goal. The storming stage still needs solid leadership but should be slightly less directive and more of coaching the team members

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Internal project leader roles

He or she must be a Team leader (Katzenbach, & Smith, 2018)

He or she must be a Coordinator

He or she must be Planner and resource allocator

He/she must be a problem solver

Any project manager should take over the role to the resource allocator and the planner because they are expected to lead the planning process during the project. The project leader should be able to fix some problems arising as the project continues (Team, 2019). The project leader must make sure that resources and the stakeholders reconcile to attain the project goal, thuds handling the role as a coordinator. Project manager should be in a position to solve problems in a costly and efficient manner. He/she must lead because people expect guidance from them to wind up the task.

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External project leader roles

The project leader should act as a controller (Katzenbach, & Smith, 2018)

Project leader should monitor and liaison

Should act as a negotiator and a champion

Project manager should act as a figurehead and spokesperson.

The project manager or leader act as a face of the project to all external viewers or sources. They must therefore represent the project in a proper way because the public opinion or perception of the project will be based on the perception of the leader (Katzenbach, & Smith, 2018). Additionally, the leader should cultivate the role of liaison to conduct the business with all the project stakeholders and also to keep a smooth relationship. By acting as a champion the leader should always express the benefit of the project and the needs it will help to fill. By acting as a controller, the project leader should make sure that the project stays within the budget and on time.

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References

Katzenbach, J. R., & Smith, D. K. (2018). The wisdom of teams: Creating the high-performance organization. Boston, Mass: Harvard Business School Press.

Team, M. T. E. (2019). Forming, Storming, Norming, and Performing: understanding the Stages of Team Formation. Mind Tools Ltd, 2016.

Last Updated on March 7, 2020 by EssayPro