You are asked to critically analyse a project, assessing and mitigating its potential inherent risks by utilizing project risk management tools and techniques: Project and Contract Risk Management, Assignment, HU, Malaysia

School

Harvard University (HU)

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Assignment Type

Individual Assignment

Subject

Project and Contract Risk Management

Uploaded by Malaysia Assignment Help

Date

25/06/2024

You are asked to critically analyse a project, assessing and mitigating its potential inherent risks by utilizing project risk management tools and techniques as well as contract law maxims taught within the module.

Consider a project that has been proposed, planned or just recently started and for which you are able to obtain sufficient amount of information/data. First, identify and categorise any potential risks for the project using a range of available analytical tools. After assessing the identified risks in more detail, determine the most critical ones.

How do you think your behavioural characteristics (e.g. risk propensity, perception, attitude) influenced the assessment? Provide mitigation measures for 2-3 critical risks, relating them to the overall risk strategy you would envisage for the project.

Finally, recommend how contractual terms and provisions may be utilised to judiciously allocate/mitigate a particular critical risk or some other common risk arising in such class of projects. You should aim to allocate circa 800 words to the contract risk considerations, with the size of other report parts left to your discretion given the emphasis you wish to put. Your standpoint should be balanced, and the argument well-written, generously complemented with suitable references to the relevant, contemporary literature as well as referring to personal experiences, observations and insights where appropriate.

The presented analysis should be based on appropriate and substantial research, which must be evidenced in your work. A mere composition of the theoretical material or repetition of some case studies without your own in-depth elaboration, critical evaluation and synthesis of original recommendations will not be deemed a highly original contribution and, consequently, will attract low marks.

The report should be a maximum of 2,500 words, excluding any exhibits, tables, figures and the reference list. All figures and tables should be consecutively numbered, and captions provided. This work will be graded and you will receive feedback on it.

Along with the usual criteria for written assessments such as the document’s structure, appropriate use of sub-headings, logical and smooth flow of argument, language style and the correct use of grammar and punctuation, other more in-depth performance indicators will be employed.

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Both parts of the portfolio will be graded using rubrics to ensure more rigorous assessment. The presented analysis should be based on appropriate and substantial research, which must be evidenced in your work. A mere composition of the theoretical material or repetition of some sources without your own in-depth elaboration, critical evaluation and synthesis of original recommendations will not be deemed a highly original contribution and, consequently, will attract low marks.

LO1: Critically evaluate how project risk can be best managed in accordance with contemporary risk management research and practice and develop a robust risk management plan.

LO2: Assess risks and recommend effective measures to manage uncertainty and project’s exposure to risk.

LO3: Evaluate procurement strategies, tools and constraints, including sourcing, contractor management and relationship building.

LO4: Apply key legal concepts, identify risks involved in the negotiation, formation and management of procurement contracts, and formulate strategies for avoiding and resolving contractual disputes.

Subject Specific Knowledge, Skills and Understanding: literature review, referencing, subject-specific techniques and skills.

Professional Graduate Skills: independence, written communication, critical thinking, IT skills, problem solving, estimation, forecasting, creativity, time management.

Emotional Intelligence: self-management, motivation, resilience, self-confidence. Font / Size: Arial / 12 Spacing / Sides: 1.5 / Single Sided Page numbers required? Yes Margins: At least 2.54 to left and right and text ‘justified’ Referencing: Full compliance with Harvard protocols All figures and tables should be consecutively numbered, and captions provided. Discussion board posts should be written in an academic format.

The word count is an absolute limit and includes everything in the main body of the text (excluding headings, citations, quotes etc). It does not include your reference list. Your word count should be clearly stated on the first page of the assignment, as well as the word count for each part. Failure to adhere to word limits is reflected in the assessment criteria.

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