Project risk and procurement management

Assignment 2 This assignment is worth 100 of the module mark. Word length 3000 words (do not exceed word limit). Do not include References in the word count. Assignment Brief : The management of risk is proving to be one of the most difficult tasks for the project management profession. How can risk be managed effectively and who should be responsible for this task? You are required to critically analyse the concept of risk; discuss how it can be measured and ranked and outline how a project risk management strategy may be constructed for a complex project involving international partner organisations. In completing this assignment, you should address how appropriate practices can assist in minimising risk for your project. Relates to Learning Outcomes: • Locate, synthesise and critically evaluate recent/current information from a wide range of published literature in the area of Project Risk and Procurement Management. • Apply knowledge of the theory and practice of Project Risk and Procurement Management to develop insights into and solve current problems. • Critically evaluate the use of complex models of Project Risk and Procurement Management; systematically and creatively making sound judgements based on the systematic analysis and creative synthesis of ideas. Critically and effectively assess the value of theories, concepts and models to the practice of Project Risk and Procurement Management. Brief from the lecturer : Define risk, Say what’s common and different about them, Explain project risk management and why are project risk different from everyday risk What kinds of risk is difficult to handle How can risk be measured? How can risk be right what’s a complex project Why international makes it more difficult in terms of language. Culture and attitude