Proj 595 Course Project Part Ii

5831 words - 24 pages

Cover Page

Course Project Part II

Military Retirement Ceremony

Keller Graduate School of Management

PROJ 595 – Project Risk Management

Phillip Thatcher

October 24, 2014

Edward Yerington

TABLE OF CONTENTS

Project Risks for Planning a Military Retirement Ceremony

Course Project Part I ………………………………………………………………………………………….3,4,5,6,7,8,9

Introduction……………………………………………………………………………………………………………………………10

Decision Tree Analysis……………………………………………………………………………………………………………11

Discussion of Decision Tree…………………………………………………………………………………………………..12

Fault Tree……………………………………………………………………………………………………………………………….13

Discussion of Fault ...view middle of the document...

Any uncertain event that occurs which could effect positive or negative on the project outcome is considered a project risk (Jutte, 2009). The course text discusses AS/NZS 4360 approach, which consists of a 5-phase process to manage and control risk. According to the text the risk management process phases are establish context, identify, establish and treat risk while continuously communicating, monitoring and reviewing risk (Cooper, 2005). The premise of risk management is to uncover and understand as much as possible about risks as early in the project as possible. The more one knows about risks the easier it is to make decisions for correct responses. The alternative to risk management is crises management, which in many instances is more costly, and more time consuming. Clements & Gido define a project as “an endeavor to accomplish a specific objective through a unique set of interrelated tasks and the effective utilization of resource “(Gido 4). I had many opportunities to develop a Military Retirement Ceremony, so I decided to approach it as a project risk management plan. At the time I did not know it but we were using the project risk management approach discussed in the text to address the risk associated with the event. The Military Retirement Ceremony project planning began the same as most projects do by determining the objectives. The objectives are described in terms of deliverable, schedule and budget. The sponsor and the customer must agree upon the scope of any project. In this project I worked along side the sponsors. The retiree was the customer. Objectives must be measurable and attainable and state the expected benefit of the end result to define the success or failure of the project. During the Military Retirement Ceremony planning phase we were required to make decisions on how to get the work accomplished. We began by a breakdown of the work into tasks that team members (mostly military members) could execute during the course of the project. This planning gave us a clear indication of the interdependencies of certain task and the project critical path. The team used the WBS as a guide to begin project risk identification. The below is the Project Scope Statement along with a Work Breakdown Structure to give an example of how we are going to perform this project.
Project Scope Statement
Project Name | Military Retirement Ceremony | Project Number | 1000 |
Project Manager | Edward Yerington | Prioritization | 5 |
Owner(s) | Commanding Officer, Operations Officer |

Statement of Work—Project Description andProject Product | We intend to do this by coordination all applicable resources to perform any and all actions to perform a professional Military Retirement Ceremony. The mission and or intent of this Project is to develop a seamless example to distribute to the entire Military in order to mirror one ceremony after another. We intend to do this by utilizing all audio and visional resources...

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