WEEK 6 PORTFOLIO MILESTONE SUBMITTED
Risk Register
There a number of challenges which might be associated with the project of implementing adult education in the state? In this project, the uncertainties that might result in the course of the project are considered to be a risk. This paper gives tries to develop some of the risk associated with the project of implementing adult education project in the United States of America.
Project description
The adult education project involves studies which are given to the older person out of the youth limit to further their knowledge and skills in the various jurisdiction. It encompasses the in-service training for adult workers in the job position and those which are conducted by the person after the retirement period(Nunley, 2007). This project focus on the education training for adult individuals after the retirement period and those within the same age gap, whether under the retirement age or those who did not have jobs(McNeil, Frey, & Embrechts, 2015).
The reason for this project is laid on the fact that many adult individuals do not have the proper means of conducting themselves at older age limits, especially when their young ones are not present with them at home or within their reach. Normally they are forced to the adult care services, which is not within their needs and interests(Ward & Chapman, 2003). This happens just because of lack of adequate knowledge and skills to operate and run their lives effective at this stage of living. The project is thus aimed at equipping these older people with necessary skills for appropriate societal stays and cope up(McNeil et al., 2015).
Risk management scope and objectives
Some of the risks which are likely to occur in this kind of project include the low turnout of the targeted adult population, the budget estimate for the program may be too low to sustain the number of days which the project is meant to last(Lock, 2017). Failure in the approaches to make the adult learners be interested in the project may be another risk as it is quite hard to draw the interest of the adult(Larson & Gray, 2013).
The scope of this management is to cover all the aspects of the predicted risks and reduce their chances of occurring. Therefore, the end result is to see that all the adult target for this project has all the capacity to attend the processes involved without the limits caused by the management. The aim of the project is to ensure that the project is conducted with least possible chances of failure.
Risk Management Methodology
The risk listed above will be identified in various stages of the project. The turnout of the targeted population will be identified at the need assessment stage to determine the approximate population that needs the services(Lock, 2017). The risk comes in when the targeted population is exceeded, or there be a low turnout according to the number originally determined. In case of higher turnout on the number originally determined, .
UGC NET Paper 1 Mathematical Reasoning & Aptitude.pdf
WEEK 6 PORTFOLIO MILESTONE SUBMITTEDRisk RegisterThere a num.docx
1. WEEK 6 PORTFOLIO MILESTONE SUBMITTED
Risk Register
There a number of challenges which might be associated with
the project of implementing adult education in the state? In this
project, the uncertainties that might result in the course of the
project are considered to be a risk. This paper gives tries to
develop some of the risk associated with the project of
implementing adult education project in the United States of
America.
Project description
The adult education project involves studies which are given to
the older person out of the youth limit to further their
knowledge and skills in the various jurisdiction. It encompasses
the in-service training for adult workers in the job position and
those which are conducted by the person after the retirement
period(Nunley, 2007). This project focus on the education
training for adult individuals after the retirement period and
those within the same age gap, whether under the retirement age
or those who did not have jobs(McNeil, Frey, & Embrechts,
2015).
The reason for this project is laid on the fact that many adult
individuals do not have the proper means of conducting
themselves at older age limits, especially when their young ones
are not present with them at home or within their reach.
Normally they are forced to the adult care services, which is not
within their needs and interests(Ward & Chapman, 2003). This
happens just because of lack of adequate knowledge and skills
to operate and run their lives effective at this stage of living.
The project is thus aimed at equipping these older people with
necessary skills for appropriate societal stays and cope
up(McNeil et al., 2015).
Risk management scope and objectives
Some of the risks which are likely to occur in this kind of
2. project include the low turnout of the targeted adult population,
the budget estimate for the program may be too low to sustain
the number of days which the project is meant to last(Lock,
2017). Failure in the approaches to make the adult learners be
interested in the project may be another risk as it is quite hard
to draw the interest of the adult(Larson & Gray, 2013).
The scope of this management is to cover all the aspects of the
predicted risks and reduce their chances of occurring.
Therefore, the end result is to see that all the adult target for
this project has all the capacity to attend the processes involved
without the limits caused by the management. The aim of the
project is to ensure that the project is conducted with least
possible chances of failure.
Risk Management Methodology
The risk listed above will be identified in various stages of the
project. The turnout of the targeted population will be identified
at the need assessment stage to determine the approximate
population that needs the services(Lock, 2017). The risk comes
in when the targeted population is exceeded, or there be a low
turnout according to the number originally determined. In case
of higher turnout on the number originally determined, there
will be a hitch in the size of the venue for conducting the
project as the number may exceed the carrying space of the hall
of training. This may result in to raise in the budget or failure to
accommodate all the needed population(Ward & Chapman,
2003). The chances of this risk occurring are high. In the case
of low turnout, there will be wastage on the resources initially
allocated. The chances of this occurring are very low.
In consideration of the risk concerning the budget allocation,
the higher turnout will imply higher demand for resources. This
kind of risk will be identified in the course of the project. The
requirements of this activity may high in terms of their cost
hence making the budget to be higher. This will require an
emergency allocation of higher resources in this line. The
chances of this risk occurring are also very high(Larson & Gray,
2013).
3. The need and interest of the population will be determined
during the project evaluation stage. The kind of response that is
given by the participants or the population of the target will
give an evaluation of the methodology as well. In case of failure
results, there will be a need to restructure the methodology
strategies to make the interest of the population drawn to the
project which will result in additional cost(Dooley, 2017). The
chances of this risk occurring are medium.
Risk Management Organization
The team conducting the project works in a way to lay down
mechanisms to ensure that in case of the occurrence of these
risks, the consequences do not bring about the failure of the
whole project(Lock, 2017). In terms of the population, the
project team will work with the number that is not fixed so that
in case of any deviation in the population, it does not affect the
budget estimate. The needs of the projects will be properly
analyzed and a given allowed to cater for the effects of any
additional budget from the original one(Dooley, 2017).
The interest of the population, especially for the project will be
analyzed in detail such that the kind of methodology to be used
in such scenario will be the one which covers most of the areas
of concern to these individuals so that they do not get bored in
the process. In addition, there will be an additional budget that
will be to cater for the revision of the methodology in case need
be(Snyder, 2014).
Reference
Dooley, J. F. (2017). Project Management Essentials Software
Development, Design, and Coding (pp. 29-38): Springer.
Larson, E. W., & Gray, C. (2013). Project management: The
managerial process with MS project: McGraw-Hill.
Lock, D. (2017). The essentials of project management:
Routledge.
McNeil, A. J., Frey, R., & Embrechts, P. (2015). Quantitative
4. risk management: Concepts, techniques and tools: Princeton
university press.
Nunley, C. R. (2007). Community colleges may be losing their
edge in educating adults. Chronicle of Higher Education, 54(9),
B18.
Snyder, C. S. (2014). A guide to the project management body
of knowledge: PMBOK (®) guide. Project Management
Institute: Newtown Square, PA, USA.
Ward, S., & Chapman, C. (2003). Transforming project risk
management into project uncertainty management. International
journal of project management, 21(2), 97-105.
MODULE 3 WEEK 3 PAPER THAT WAS SUBMITTED
Risk Management Planning Process
The process of risk management is all about pointing out,
evaluating and taming the threats to an organization’s resources
and benefits. It involves controlling the threats and being in
control to avoid making losses. This case study looks at the
process of risk management and the terms that are relevant to
the process. Different terms are used in the risk management
process such as Likelihood which means the probability of
something happening. Risk which means the consequences of
the unknown to the goals and objectives. Level of risk which
basically means the magnitude of the risk according to the
probability and effects on the objective and resources of the
organization. Project Risk Register which means a document
with the records of the risk management process. Risk treatment
is another term used in this process which is about modification
of the risk (Government, 2018).
There are five steps that are followed in the risk management
process. Identifying the risk is the first step. At this stage, the
possible risks are pointed out and listed down. They are also
discussed or explained to the team members. The risks are the
5. ones that might interfere with the process of the project and the
benefits of that project (Kloosterman, 2016). Different
techniques are implanted to identify the possible risks. For
example, interviewing; interviewees are asked questions that
bring out the opinions of different people hence identifying the
possible risks. After the interview, the team members can
interact and consult with the stake holders about those risks.
This helps with clarity about the level of the risk. The other tool
that can be used is brain storming. It is considered one of the
best tools to use. People work together to write down the
possible risks together with their causes and possible treatment
(Harb,2009). At this stage preparation for the Project Risk
Register start.
The second step is analyzing the risk. After identifying the
potential risks, the team is supposed to evaluate the likelihood
and effects of the risks. This should be done for each and every
risk. The purpose of analyzing is to clearly comprehend the
nature of the risk and how much it can affect or deter the goals
and objectives of the project (Kloosterman, 2016). The
technique of estimation is implemented here. It can be done
through multiplying the probability of the event with the cost of
events, which helps to get the value of the possible risk. This
information is supposed to be recorded in the project risk
register.
The next stage is about the evaluation of the risk. It can also be
called risk assessment. This should do in accordance with the
level of the risk in relation to the likelihood and the effects to
the outcome of the project. The team decides whether the risk
can be accepted and how serious it is. They also determine if
that risk is serious enough to require treatment in the whole
process. There are techniques that are used to assess risk. For
instance, quantitative analysis. This involves assigning numbers
to risks based on different reports on risks and the data
gathered. The ranks of the risks are also recorded in the Project
Risk Register (Dcosta, 2011).
Once the team has identified the risk, analyzed it and evaluated
6. it, treating is then done. It is about responding to the risk. The
team evaluates the highest risks and then plans on how to treat
them. At this stage, there is also a modification of the risks to
get to the acceptable risk levels. The team strives to minimize
the negative risks (Kloosterman, 2016). Strategies for dealing
with the risks are laid down not leaving out preventive plans
and probability plans. Measures to deal with the high-level risks
are also laid down and added to the Project Risk Register.
Reviewing and monitoring of the risk is then done. With the use
of the Project Risk Register the team tracks and reviews the
risks (Kloosterman, 2016). The purpose of this stage is to
ensure that the measures are effective and efficient. It also
helps gather information on the improvement of the process of
evaluation. Reviewing also helps identify the changes that
might have happened to the listed risks. In case of any risks
coming up they are identified in the stage of reviewing and
monitoring. The progress on risk treatment is also captured
(Australia, 2015).
References
7. Australia, R. M. (2015). Body of Knowledge Domain 5
Monitoring & Review.
Dcosta, A. (2011). An Overview of Project. Bright Hub Project
Management.
Government, A. (2018). Risk Management Glossary of Terms.
Treasury.
Harb, T. (2009). Risk Identification Made Simple. In Consult.
Kloosterman, V. (2016). What are the 5 Risk Management Steps
in a Sound Risk Management Process?