quora
Nobody downloaded yet

3: Risk Management on a Satellite Development Project - Case Study Example

Comments (0) Cite this document
Summary
The risk management plan is a critical tool in the management of projects and demonstration of the advantages involved in the creation and adherence to project control. The plan provides an outline to address all conflicts of interest among stakeholders.
One of the implications…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.1% of users find it useful
Case Study 3: Risk Management on a Satellite Development Project
Read TextPreview

Extract of sample
"3: Risk Management on a Satellite Development Project"

Download file to see previous pages Contractor’s estimates for the requisite resources were inflated and inconsistent (Kloppenborg, 2014). The engineering costs have been exaggerated while the project philosophy required replacement of gross maintenance and reduction of engineering requirements within the minimum focus points.
It is possible to lose control of the changes to project scope. Unworkable and meaningless project processes and schedules with impacts through proposals for changes that are gauged. The contractors do not use effective planning strategies that focus on becoming scope reducing elements for the necessary elements adopted by appropriate approaches. The risk plan identifies the scopes of work based on the differential places (Aven & Vinnem, 2007). Absence of a project risk plan means that the project organization lacks a reflection of requirements developed with the work.
The plan engages all aspects of the process of execution of works for rescue situations. The fact that project owners are not in a position of revoking contracts; contractors have executed projects without employing any form of cost-savings and mitigation strategies (Ruhe & Wohlin, 2014). It is recommended to have a project risk management plan to facilitate the audit and analysis processes.
Risk management plans facilitate project success through the establishment of comprehensive lists of external and internal risks. The plan includes identified risks, proposed actions, probability of occurrence, and potential impact. Low-risk occurrences have minimal impacts on cost, performance or schedule. Moderate risk exposures cause an increment in costs while disrupting the schedule and degrading the performance.
For purposes of ensuring that the projects run efficiently, effective project risk managers communicate plans to all project sponsors, team members and stakeholders (Ruhe & Wohlin, 2014). The focus sets the expectations among the people providing funding as well as the affected ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Case Study 3: Risk Management on a Satellite Development Project”, n.d.)
Case Study 3: Risk Management on a Satellite Development Project. Retrieved from https://studentshare.org/human-resources/1677671-case-study-3-risk-management-on-a-satellite-development-project
(Case Study 3: Risk Management on a Satellite Development Project)
Case Study 3: Risk Management on a Satellite Development Project. https://studentshare.org/human-resources/1677671-case-study-3-risk-management-on-a-satellite-development-project.
“Case Study 3: Risk Management on a Satellite Development Project”, n.d. https://studentshare.org/human-resources/1677671-case-study-3-risk-management-on-a-satellite-development-project.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Project Management: Case Study
As aptly illustrated by The Economist in the case of ET Water Systems’ it can be noted that transport costs are playing a big part in reshoring. For instance, rising shipping, rail and road costs impact negatively on companies that make goods with relatively low “value-density”, such as consumer goods since the transport costs to ship them will be high such that they cannot be offset by the revenue generated.
5 Pages(1250 words)Case Study
Case Study Development Team Project
The group is having as of now a total of nine properties that are in Bangkok, Maldives, Bali, London, Turks and Caicos Islands, and in Bhutan. In 2012 in Forbes it was listed that Christina Ong was amongst the 50 Asia’s Power Business Woman. The company has its
10 Pages(2500 words)Case Study
Project Management Case Study
The customers to this company are banks, assurance firms and other theory companies. Therefore, the stakeholders that define XYZ Company are all the people that directly or indirectly benefit from the operations of this company. Stakeholders are
5 Pages(1250 words)Case Study
Risk Management on Satellite Project
Proactive management of risk is a crucial benefit in implementation and use of standardized practices of management of a project today. Always a balancing principle manages the three challenges of time, the aim of the project and expenses.  
4 Pages(1000 words)Research Paper
Risk Management in a Satellite Project
Introduction The importance behind risk management can hardly be overstated. For a company to be successful, the fundamental steps in laying out the way to follow in doing business must include how the risks involved must be managed. If well managed, the way of doing business is hardly affected by the risks involved in the business.
4 Pages(1000 words)Essay
Project Management Case Study
The organization was young and it lacked experience on project management. The project undertaken by a Microsoft certified agency was hired to implement the Microsoft Dynamic's CRM 3.0 system in the organization. This project failed miserably, not due to the fault of the implementation but because of improper management of the project.
3 Pages(750 words)Case Study
Risk Management Case Study
Everyone must decide for themselves what levels of risk they are comfortable living with. Ideally this would involve everyone actively engaged in the management of the operation, especially family operations. Risk is the probability of an event occurring that can impact the current profit level, financial situation (equity position) and satisfaction and well being.
14 Pages(3500 words)Case Study
Project management/case-study
Unless tackled, these uncertainties can lead to a major project disaster. The uncertainties encountered during project execution are the potential project risks. Risk can be defined as the possibility of loss. Risk arises due to the inability to achieve objectives within defined cost, schedule and technical constraints.
9 Pages(2250 words)Case Study
Project Management Case Study
Moreover called low esteem system Pondering our cautious examination, XYZ Investments Company1 (XYZ) is a supplier of designing,
4 Pages(1000 words)Case Study
Case Study Project Management
In this esteem, Hillary distinctive capability functions much like a key achievement component. Hillary cross-porting scheme is one well famous demonstration of how a unique capability of individuals led to an exceptional distinctive
3 Pages(750 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Case Study on topic Case Study 3: Risk Management on a Satellite Development Project for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us