Project Risk Management – Assessing Readiness
Assessing Organizational ReadinessBUS 519April 23, 2017Professor Steven EnglehartAssessing Organizational ReadinessThe existence of risk management is a requirement for any organization to be successful in its industry. Risk is defined as any potential event or events that pose threat to process, project, etc.; and management being the ability to achieve and manage through the unexpected. Understanding the significance of risk management projects drives the importance of a thorough, defined process to ensure continued efficiency. Every organization risk management project has many factors of nonexistent indicators that can increase the probability of breakdown for the risk management project which existence significantly raises the possibility for the accomplishment of the project (Hillson & Simon, 2012). Included we will analyze the Environmental Quality International(EQI) in Siwa case study and discuss its critical success factors, organization readiness and conclude with recommendations. Critical Success Factors (CSFs)Critical Success Factors (CSFs) are the objectives within the project that must be accomplished in order for the project to be considered successful. Hillson and Simon identify CSFs as a supportive organization, competent people, appropriate methods, tools, and techniques; and lastly, a simple, scalable process. These factors can be further defined to meet the needs of the risk management project but not condensed. As condensing the list would exclude the main objectives that should be present throughout all risk management projects.
Supportive OrganizationBased on the text, it appears that the President has extensive powers and appoints majority of the government officials. This invites the opportunity to ensure the appropriate individuals are placed in positions that suit their skills and experiences. The objectives for the project are clear and there is the appropriate level of buy-in from the appropriate stakeholders. With the EQI project, the organization quickly realized that the culture was different and they needed to change their approach to accommodate the people. Competent PeopleThis presents the next CSF, which is a skillful and capable team. It seems like the team share a common understanding and agreement about the risk management. It was clear after the development of the second hotel to the team through research and mentoring that they needed to make an adjustment. “The end benefit of effective training is skilled and competent staff who contribute effectively to the risk process.” (Hillson & Simon, 2012) They idenitifed that the training provided by the grandmothers would provide data to understand the effect on the young girls.