Create a checklist outlining the process of administering a blood transfusion, including all the necessary safety checks and assessments.
Develop a grid comparing the various possible transfusion reactions including cause, manifestations, treatment modalities, and nursing implications.
Privilege of prescribing medication for pain management
Prescription opiates is an appropriate medical response for pain management. The prescriptions are from licensed medical professionals who are committed both ethically and professionally to prescribe responsibly. Using the internet, find an article on a physician who misused the privilege of prescribing medication for pain management. Discuss your thoughts on policy and appropriate steps to manage those who abuse the privilege to prescribe medication.
As opioid use remains a public health emergency, write an essay responding to the issues of the over prescribing of opiates for medical management of pain, public policy, and treatment. Make use of the resources.
Ethical and Legal Termination—In this session, you examine the legal and ethical aspects of selecting and terminating an employee out of a group of people with similar performance, behaviors, and jobs as a part of a broad-ranging cost saving initiative. Employee differences:
The nurse is caring for a 30-year-old HIV positive type 1 diabetic male who was admitted into the hospital today for a 4-day history of excessive bruising, frequent nose bleeds, and bleeding gums. His platelet count is 30,000/µL. His admitting diagnosis is immune thrombocytopenia. He is awake and alert and denies any pain or discomfort. Vital signs are temperature 97.2, pulse 96 bpm, respirations 16 per minute, and blood pressure 118/60 mm Hg. He has several areas of purpura on his back and arms. He states his last nosebleed was last night, which lasted 2 hours. He states that even though he uses a soft toothbrush his gums bleed excessively each time he brushes his teeth.
A 45-year-old woman has been diagnosed with pernicious anemia 2 years after having gastric bypass surgery. She has not followed her prescribed post-surgery diet and medication regimen for 3 months because she thought she “was better” and didn’t need them any longer. Assessment reveals a tongue that is tender, beefy red, and shiny. She reports feeling overall weakness, tingling in her feet, and having no appetite.
Section 4 – Corrective Action and Monitoring 4.1 Risk Tolerance 2 4.2 Risk Mitigation 2 4.3 Corrective Risk Management Strategy 3 4.4 Corrective Action Plan 3 Reference 4
2
Section 4 – Corrective Action and Monitoring 4.1 Risk Tolerance In the construction industry, stakeholders like investors must consider the risk tolerance and how much loss they can accept.
Depending on how many risks they are willing to take, risk tolerance can be divided into three categories: aggressive, moderate, and conservative. It may be challenging to adopt safety and enhance safety performance due to differences in worker risk tolerance.
The extent to which risk tolerance for construction safety varies across large geographic regions is uncertain ( Salas et al.,2020). Accidental, unanticipated environmental pollution significantly impacts the project, and specific environmental risk surpasses society’s standard. Considerations for Determining Risk Tolerance 1) Taking risks – This has to do with the capacity for risk-taking.
Depending on how many
projects stakeholders, especially the management, are willing to risk, they can be classified as either risk-taker, risk-averse, or risk-neutral. For example, in construction, risk-taker are prepared to invest more than the typical return, and risk avoiders, if they are prepared to invest less than the typical return, are risk-neutral if they merely want to invest for the average return.
2) Organizational objectives – Goals provide the target toward which an organization directs its resources from a risk-tolerance perspective. Different goals result in different levels of risk tolerance.
3) The capacity to manage risks is the organization’s capacity for controlling its risk exposures within the parameters of acceptable risk tolerance.
The project manager has the role of checking the possible consequences and likelihood, if the company has enough capable, experienced, and qualified employees to manage risks, and if the culture and structure of the company’s risk management department help or hinder risk management.
Factors Affecting Risk Tolerance 1. Timeline -Construction projects always have a more excellent timeline than other projects. In general, greater risk can be taken if there is more time. 2. Goals- For every project, the goal is to achieve the objective within a specified time and specific budget. 3.
People -Human capital is crucial to project success and plays a significant role in a construction project. A workforce that is more abundant, knowledgeable, competent, and technological trends to take more significant risks 4. Investors’ level of comfort- the degree to which an investor feels at ease taking risks is closely correlated with their risk tolerance. 4.2 Risk Mitigation
3
Construction companies can utilize risk mitigation to prepare for probable risks and lessen their effects. This project will employ risk mitigation, similar to risk reduction, in that it will take steps to decrease the adverse effects of environmental and safety hazards. There are four strategies to manage risk.
First, Avoid risk; if the project team can stop the risk from happening, it should eliminate or at least lessen it. It entails doing something to ensure that your project suffers the least amount of harm feasible. Transfer: The project may pay a third-party entity to take a risk. It might be an effective risk management strategy. The most typical method is insurance.
Third, accept: Project team must accept the risk if they cannot eliminate, reduce, or transfer it. However, they should consider their options and be aware of the potential consequences. A risk trigger indicates that risk has struck or is about to.
Risk assessment may reveal triggers, which can be evaluated as the project progresses. The project team will put a risk response into place once the risk triggers. The project team must recognize and record risks early in Finding Risk triggers. Along with identifying risks, the project team will ascertain several critical data points, such as the likelihood of its occurrence at any point during the project, the severity of its effects, the timing for the risk, and how the team will respond to it. The project team must also choose the catalysts for risk evaluation.
4.3 Corrective Risk Management Strategy This project will use the strategic planning process, which will be an ongoing process in which the organization will choose to adopt specific strategies, develop an action plan, and evaluate its progress, growth, and accomplishment. The approach for taking corrective action is to determine and remove the root of problems to eliminate their repetition. The corrective action process involves realizing and characterizing a problem, identifying its root cause, and taking initiatives to curb it from happening.
The PM will perform a post-mortem analysis to help manage organizational knowledge. Postmortem analysis will allow the team members to learn new skills and expand their experiences, which benefits current and upcoming projects. 4.4 Corrective Action Plan Process for Corrective Action in Steps:
1. Identify the problems. According to Liu et al. (2015, p.565), the significant risk was cultural. The minor common risks include safety risk, duration risk, Land acquisition risk, and change in drawing risk and environmental.
2. Establish the scope. Project managers need to understand the scope of a project to know how much time, money, or workforce went into it.
3. Containment Measures: the root cause of cultural risk was a result of the four projects ( AP, AC, BS, BC) being in different countries. Risks were perceived differently by the same contractor under different host cultures (Liu 2015 et al., p. 572). The appropriate measure to take will be for management to encourage workplace diversity
4. Prepare corrective measures. The project team will develop practical, measurable solutions that concentrate on the fundamental cause and have timelines that the project team can meet.
4
5. Put the corrective action into action. The project team implements the corrective actions in this step.
6. The final step is checking and monitoring to see if the plan was successful. The project team should determine the progress, update the team on the modifications, record the process and finish it with a debrief.
The Corrective documentation will be available to others since the corrective action plans offer the organization a remedial plan making it crucial. It offers a procedure for carrying out corrective action that starts with research and ends with a review. Organizations that employ this kind of planning have a framework to manage and develop their solutions.
The following are some advantages of utilizing corrective action plans: enhancing workflows or techniques, Streamlining the process, Gaining effectiveness, and efficiently locating inexpensive means of mistake correction.
Reference
Liu, J., Meng, F., & Fellows, R. (2015). An exploratory study of understanding project risk
management from the perspective of national culture. International Journal of Project
Management, 33(3), 564–575.
Salas, R., Hallowell, M., Balaji, R., & Bhandari, S. (2020). Safety risk tolerance in the construction industry: a cross-cultural analysis. Journal of construction engineering and management, 146(4), 04020022.
2.3 Expected Monetary Value 3 2.4 Determine the Risks 4 2.5 Evaluate and Assess the Risks 4
2.6 Qualitative and Quantitative Processes 4
Section 3 – Risk Analysis and Assessment 4
3.4 Risk Data Quality Strategy 5
Section 4 – Corrective Action and Monitoring 5
4.3 Corrective Risk Management Strategy 6
Risk Monit oring and Control Example 9
Section 1 – Introduction to the Plan
In the case study “An exploratory study of understanding project risk management from the perspective of national culture,” the significant risk identified is the culture risk. Culture risk is the possibility for a company’s operations in a country to struggle due to variations in language, customs, conventions, and client preferences.
A good project risk management plan allows project managers to look at the entirety of their project and what could go wrong. It helps them develop other strategies for various budgets and timing. The benefits include;
I. Risk culture reflects the shared values, goals, practices, and reinforcement mechanisms that incorporate risk into an organization’s decision-making processes and risk management into its operating processes.
II. Identifying and Evaluating Problem Areas: – A thorough project risk management plan will provide you with a comprehensive view of your project and any possible problems. That way, you’ll be able to focus your (and your stakeholders’) attention on the project’s weak points and conduct frequent status checks, peer reviews, and audits to keep the project on track.
III. Risk management plans give you an early warning of potential risks or issues, enabling the team to prepare and take the required steps to mitigate problems before they become severe and cause irreversible damage.
IV. Accurate Budget Estimations: – You can forecast potential problems if project risk management is mapped into your schedule and cost planning. It will assist you in allocating a contingency budget for each domain, such as cost, time, and resource, resulting in less waste and higher quality.
V. Focused Approach: – Because risks are being actively tracked and controlled, teams may concentrate more on their given tasks. Furthermore, the project team may quickly address problems, assuring project success.
I. Develop a common knowledge of risk across diverse functions and business units to manage risk efficiently across the organization.
II. Gain a more profound knowledge of risk to gain a competitive edge.
III. Make provisions to protect the organization against the unexpected gain.
IV. Develop and strengthen capacities to effectively respond to low-probability, high-impact, catastrophic risks.
V. Improve the management of internal resources to save money.
VI. Increase the efficiency of capital allocation.
VII. To encourage the creation of curricula that is culturally responsible and responsive.
VIII. To make learning the attitudes, skills, and knowledge needed to function in many cultures in different countries more accessible.
Construction projects company background
In construction projects, three national cultures are selected for investigation in the case studies: Chinese, Polish and Singaporean. Cultural influence is critical for successful risk management. Therefore, the goal of the Case study was to find out how contractors’ risk management was influenced by their culture. According to Liu et al.(2015), Four projects in China, Poland, and Singapore were chosen as case studies; the contractors highlighted significant risks, including land acquisition risk in the foreign country, and they outlined risk management strategies in each scenario within the framework of Hofstede’s theory. To demonstrate the link between culture and risk management, according to Liu et al. (2015, p.565), Corporate culture influences enterprise risk management (ERM) and then affects project risk management (PRM).
The findings showed that national culture influences contractors’ risk perception and ways of management; risks were perceived differently by the same contractor under different host cultures (Liu 2015 et al., p. 572).
Impact on the plan
The result indicated that different national cultures perceive and manage project risks differently. According to Liu et al. (2015), Based on Hofstede’s theory and culture model, it is suggested that IDV and UAI are the foci of the cultural impact, while PDI, LTO, and MAS also contribute (574). The host country’s national culture impacts its risk management styles (Liu et al., 2015). It is critical to have this information to strengthen the risk management practices of multinational contractors.
The project plan will help determine the need to mitigate the risk identified by Liu et al. 2015 to help an organization deal with cultural risk.
Significant risks identified from the four projects in the case study
|
Stakeholders in the case study are the Chinese contractors
Project stakeholders include; The management, Project manager, project team
Stakeholder’s role
The management Stakeholders provide practical and financial assistance to the project. The Risk Project Managers Provide a system for determining and analyzing the economic impact. They examine how to mix retention programs by utilizing realistic and cost-effective options. They also
Prepare risk management, budgets, and records maintenance for future reference. According to Pritchard (2014), project managers are not solely responsible for the project management but take responsibility for the outcomes.
Stakeholder impact
Stakeholder management is unquestionably critical to a successful project relationship. Stakeholder management entails forging positive relationships with all stakeholders and understanding how their efforts contribute to the project’s overall success.
All stakeholders and the project team will continuously identify risks during the project’s lifetime. The project manager will log the identified risks into the Risk Register.
The Project Team will use several techniques with the scrum team, subject matter experts, and stakeholders:
1. Interview
2. Meeting
3. Brainstorming
4. Requirements Analysis
5. Project Documentation Review
6. Delphi Technique
7. Internal Groups
The team will conduct a special risk identification session for the following events
in addition to ongoing identification:
1. During a review of the release plan.
2. Analysis of risk breakdown structure (RBS).
3. Analysis of work breakdown structure.
4. When a change request is approved.
5.
6.
7.
8. Outside the Project Team, t
he Project Manager is also in charge of recognizing risks. The project manager will frequently evaluate and analyze the company’s Risk Categories. The project manager will use Risk Breakdown Structure (RBS) since it has been widely accepted as a valuable tool for
structuring the risk process.
Quantitative analysis
It’s not cost-efficient to perform a Qualitative Risk Analysis for this project. However, in exceptional cases, the Project Team may calculate the monetary value of critical risks and develop a decision tree.
Qualitative analysis
This process aims to list risks that require a proactive response. We should also identify urgent risks that need an answer right now. Finally, the Project Team should assess all risks in the Risk Register and determine the Probability and Impact level of the risk’s effect on the project.
The project team will spend an adequate amount of time assessing the risks. The project operates under the dedicated team model. Therefore, we will represent a risk’s impact on the team’s effort.
As we assess the risk, we calculate risk management efforts within the project’s boundaries and cost.
References
Liu, J., Meng, F., & Fellows, R. (2015). An exploratory study of understanding project risk management from the perspective of national culture. International Journal of Project Management, 33(3), 564–575.
Pritchard, P. P. E. C. L. (2014). Risk management: Concepts and guidance, fifth edition. Auerbach Publishers, Incorporated.
2
Complete Section 5 – Postmortem Plan and Section 6 – References of the risk management plan by developing the results, conclusion, and follow up for your chosen case study or work project.
Evaluating results and working toward improvements are necessary for continual process improvement. This is an important part of every company’s risk planning and quality process.
To make process improvements in risk management and quality planning, you must collect and evaluate data. A risk management auditing process will determine whether there are areas that should be specificallyy evaluated for improvement.
The Risk Management Plan documents the results, conclusion, follow-up activities, and corrective actions for the project postmortem plan.
The information from the postmortem pan informs future continual process improvement. Postmortem activities include determining the benefits of different risk management strategies and elements for future application.
Preparation
Microsoft Project is the recommended software tool for this course due to its wide industry acceptance and its use in many project management professional roles. This is provided to you through MS Imagine.
Microsoft Software
Risk Management Plan. Section 3 – Risk Analysis and Assessment 3.1 Major and Minor Risks 2 3.2 Risk Probability 2
3.3 Risk Matrix Template 3
3.4 Risk Data Quality Strategy 3
3.5 Risk Reviews 5
3.6 References 6
Section 3 – Risk Analysis and Assessment
The significant common risk identified in the four undertaken projects is culture risk; the minor common risks include safety risk, duration risk, Land acquisition risk, and change in drawing risk and environmental.
The project team determined the risks through qualitative and quantitative methods. After the project team took into account all the risks associated, risk determination offered a numeric risk value indicating that project AP was the riskiest. A Risk Score represents this numerical value. A risk score is calculated as follows: impact* likelihood.
The project used quantitative and qualitative methods in this project to estimate the overall impact of risk on the project’s cost and schedule goals. The findings are utilized to create a risk matrix and offer insight into the chances of project success. The most effective method applied is Expected Monetary Value (EMV)
3.2 Risk Probability
| High | Risk 1 | ||
| Medium | Risk 2 Risk 3 | ||
| Low | Risk 4 | ||
| Low | Medium | High | |
| IMPACT
|
The project will expand the use of probability, which significantly increases forecasting accuracy, and will incorporate calibration training, which has been shown to increase judgment accuracy. In addition, the project will Explore options to encourage individuals to think about different theories that can help increase judging accuracy. Finally, the project team will disintegrate the issue and divide each issue into more minor, simpler-to-estimate problems.
3.3 Risk Matrix Template
| Risk # | Risk | Probability | Impact | Response | Action Plan | Person Responsible | Status |
| AC BS BC | Safety risk
| High | Cost | Mitigate | Guaranteeing that everyone has received the proper training to minimize danger on-site is essential. It is a crucial practice to guarantee that your workers know what to do in the event of an accident. Organizing regular safety meetings and safety check-ups on-site | Project Manager | Closed diverted |
| AC BC | Duration risk Shortage of workers Contracts’ risk | High | Time | Avoid | The time frames should be practical, and The hiring company’s contracting standards should be explicit regarding the workers’ agreement and contractors. | The contractor | Open |
| AP BS | Environmental risk Site condition unknown | Medium | Quality | Avoid | To be aware of the site’s restrictions, have geographic information research that shows the area’s topography, including existing features, boundary lines, and contour lines. Then, examine the architectural drawings and, Conduct a thorough geotechnical analysis. | The architect | Closed |
| AP AC BS BC | Natural calamities risks | Low | Cost Time Quality | Avoid Mitigate Transfer | The company may insure against natural risks. However, be aware of the possible disaster, predict and prepare and put mitigation measures in place. | Project Managers | Pending Closed |
3.4 Risk Data Quality Strategy
The process of identifying project risk will be first to identify the risk, second to determine the risk criteria, third to assess the risk, and finally to prioritize the risk. The project manager will use a risk matrix to determine the likelihood and impact of the risk. This method rate risks according to their seriousness by combining their likelihood and impact scores. Each risk is thus recognized concerning the overall project. If any problem arises in the project’s life, there will be a timely response.
By focusing on the likelihood of prospective risks, a risk matrix is a reliable tool that aids in risk assessment. As a project manager, I will quickly determine the risk of a project using a risk assessment matrix. The risk assessment will enhance data reliability.
Project managers will use data that has been compiled for the risks they have identified. The Project manager will determine the degree to which information regarding the risk is pertinent to the project. It aids the project manager in comprehending the risk’s accuracy, dependability, validity, and authenticity of the information gathered about the risk (Sebastian-Coleman, 2012).
Evaluation of data quality mandates that the project manager analyzes the risk’s understanding level, gathers all relevant data, and assesses the data’s integrity, quality, and dependability. Then, the project team will give precise judgment after carefully considering these risk parameters.
The main goal of data quality is to guarantee the objectivity and reliability of the data used in the risk analysis. Therefore, it assumes that the findings are trustworthy and highly credible information.
3.5 Risk Reviews
| Continue Review and Action Plan | Owner | Time Estimate |
| Step 1: Determine the causes of the event. Step 2: Continue to look for new risks. Step 3: Analyze the success of your risk management strategy. | Project team | Throughout the project |
| Stage 1: Risk identification. Stage 2: Risk analysis Stage 3: Risk management Stage 4: Documenting the procedure Stage 5: Monitoring and reviewing. | Project team | 2-3weeks at each stage |
| The project manager will use Verbal communication, written communication, and visual methods in reporting to the stakeholders. | Project Manager | Throughout the life of the project |
The project manager will identify current threats to the company, division of operations, or project by establishing a risk response. Also, the PM will categorize identified risks in order of importance based on how serious of a threat they pose. Finally, the PM will evaluate the risk to establish the most appropriate course of action. Meetings with stakeholders are done to communicate the progress of risk assessment.
Project managers should strive to communicate the appropriate risk information through the risk matrix to stakeholders at the appropriate time. Communication should be kept simple to show stakeholders how to minimize risks and take advantage of opportunities.
References
Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK(R) Guide–Sixth Edition / Agile Practice Guide Bundle: Vol. Sixth edition. Project Management Institute.
Sebastian-Coleman, L. (2012). Measuring data quality for ongoing improvement: a data quality assessment framework. Newnes.
Risk Management Plan Components 3 2.3 Expected Monetary Value 3 2.4 Determine the Risks 4
2.5 Evaluate and Assess the Risks 4
2.6 Qualitative and Quantitative Processes 4
Section 3 – Risk Analysis and Assessment 4
3.4 Risk Data Quality Strategy 5
Section 4 – Corrective Action and Monitoring 5
4.3 Corrective Risk Management Strategy 6
Risk Monit oring and Control Example 9
A good project risk management plan allows project managers to look at the entirety of their project and what could go wrong. It helps them develop other strategies for various budgets and timing. The benefits include;
I. Risk culture reflects the shared values, goals, practices, and reinforcement mechanisms that incorporate risk into an organization’s decision-making processes and risk management into its operating processes.
II. Identifying and Evaluating Problem Areas: – A thorough project risk management plan will provide you with a comprehensive view of your project and any possible problems. That way, you’ll be able to focus your (and your stakeholders’) attention on the project’s weak points and conduct frequent status checks, peer reviews, and audits to keep the project on track.
III. Risk management plans give you an early warning of potential risks or issues, enabling the team to prepare and take the required steps to mitigate problems before they become severe and cause irreversible damage.
IV. Accurate Budget Estimations: – You can forecast potential problems if project risk management is mapped into your schedule and cost planning. It will assist you in allocating a contingency budget for each domain, such as cost, time, and resource, resulting in less waste and higher quality.
V. Focused Approach: – Because risks are being actively tracked and controlled, teams may concentrate more on their given tasks. Furthermore, the project team may quickly address problems, assuring project success.
I. Develop a common knowledge of risk across diverse functions and business units to manage risk efficiently across the organization.
II. Gain a more profound knowledge of risk to gain a competitive edge.
III. Make provisions to protect the organization against the unexpected gain.
IV. Develop and strengthen capacities to effectively respond to low-probability, high-impact, catastrophic risks.
V. Improve the management of internal resources to save money.
VI. Increase the efficiency of capital allocation.
VII. To encourage the creation of curricula that is culturally responsible and responsive.
VIII. To make learning the attitudes, skills, and knowledge needed to function in many cultures in different countries more accessible.
Construction projects company background
In construction projects, three national cultures are selected for investigation in the case studies: Chinese, Polish and Singaporean. Cultural influence is critical for successful risk management. Therefore, the goal of the Case study was to find out how contractors’ risk management was influenced by their culture. According to Liu et al.(2015), Four projects in China, Poland, and Singapore were chosen as case studies; the contractors highlighted significant risks, including land acquisition risk in the foreign country, and they outlined risk management strategies in each scenario within the framework of Hofstede’s theory. To demonstrate the link between culture and risk management, according to Liu et al. (2015, p.565), Corporate culture influences enterprise risk management (ERM) and then affects project risk management (PRM).
The findings showed that national culture influences contractors’ risk perception and ways of management; risks were perceived differently by the same contractor under different host cultures (Liu 2015 et al., p. 572).
Impact on the plan
The result indicated that different national cultures perceive and manage project risks differently. According to Liu et al. (2015), Based on Hofstede’s theory and culture model, it is suggested that IDV and UAI are the foci of the cultural impact, while PDI, LTO, and MAS also contribute (574). The host country’s national culture impacts its risk management styles (Liu et al., 2015). It is critical to have this information to strengthen the risk management practices of multinational contractors.
The project plan will help determine the need to mitigate the risk identified by Liu et al. 2015 to help an organization deal with cultural risk.
Significant risks identified from the four projects in the case study
|
Stakeholders in the case study are the Chinese contractors
Project stakeholders include; The management, Project manager, project team
Stakeholder’s role
The management Stakeholders provide practical and financial assistance to the project. The Risk Project Managers Provide a system for determining and analyzing the economic impact. They examine how to mix retention programs by utilizing realistic and cost-effective options. They also
Prepare risk management, budgets, and records maintenance for future reference. According to Pritchard (2014), project managers are not solely responsible for the project management but take responsibility for the outcomes.
Stakeholder impact
Stakeholder management is unquestionably critical to a successful project relationship. Stakeholder management entails forging positive relationships with all stakeholders and understanding how their efforts contribute to the project’s overall success.
All stakeholders and the project team will continuously identify risks during the project’s lifetime. The project manager will log the identified risks into the Risk Register.
The Project Team will use several techniques with the scrum team, subject matter experts, and stakeholders:
1. Interview
2. Meeting
3. Brainstorming
4. Requirements Analysis
5. Project Documentation Review
6. Delphi Technique
7. Internal Groups
The team will conduct a special risk identification session for the following events
in addition to ongoing identification:
1. During a review of the release plan.
2. Analysis of risk breakdown structure (RBS).
3. Analysis of work breakdown structure.
4. When a change request is approved.
5.
6.
7.
8. Outside the Project Team, t
he Project Manager is also in charge of recognizing risks. The project manager will frequently evaluate and analyze the company’s Risk Categories. The project manager will use Risk Breakdown Structure (RBS) since it has been widely accepted as a valuable tool for
structuring the risk process.
Quantitative analysis
It’s not cost-efficient to perform a Qualitative Risk Analysis for this project. However, in exceptional cases, the Project Team may calculate the monetary value of critical risks and develop a decision tree.
Qualitative analysis
This process aims to list risks that require a proactive response. We should also identify urgent risks that need an answer right now. Finally, the Project Team should assess all risks in the Risk Register and determine the Probability and Impact level of the risk’s effect on the project.
The project team will spend an adequate amount of time assessing the risks. The project operates under the dedicated team model. Therefore, we will represent a risk’s impact on the team’s effort.
As we assess the risk, we calculate risk management efforts within the project’s boundaries and cost.
References
Liu, J., Meng, F., & Fellows, R. (2015). An exploratory study of understanding project risk management from the perspective of national culture. International Journal of Project Management, 33(3), 564–575.
Pritchard, P. P. E. C. L. (2014). Risk management: Concepts and guidance, fifth edition. Auerbach Publishers, Incorporated.
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