Monday, May 6, 2019

Project management-Scenario Assignment Essay Example | Topics and Well Written Essays - 2000 words

Project management-Scenario Assignment - Essay ExampleMeasure of the extent to which a familiaritys benefits are achieved is known as value and this should be at optimum cost. As a manager of the battery manufacturing company, Bart Erry Ltd, I would employ risk management and assessment for valuation of risks in order to take remedial actions in line with achieving these benefits and minimising loss of value to hazards and uncertainties.Risk visibility is a defined set of risks that an cheek is exposed to and describes when a risk should be considered acceptable as well as how the risk is affecting decisions of the organization and corporate strategy (Woodhead, 2001)1. Risk profiling involves outlining the risks consort to priority and can be developed during risk analysis and used for the management of these risks. It enables the company to judge the likelihood of the threats occurring and the extent of disruption that can be caused by each type of risk. Profiling whence invol ves identification and quantification of risks where identification is simply finding or recognizing a particular risk that could affect the organization in achieving its goals. While in quantification the identified risks are evaluated and a data developed to help in outlining a disaster recovery plan.The battery manufacturing company, Bart Erry Ltd are currently facing a heel of risks such as legal suit may be filed against them by the local connection because of the chemical substance effluent which found its way into the river and killed fish. They also face relocation from their current location by the government. They as well face health hazard risk not only to the local community still to the company too because they may also depend on water from the contaminated river for several uses. The company may also face destruction of property by the angry local fishing community whom have been affected because the effluent from the company caused the death of fish that they

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