MPM7004 Project Risk Management Sem 2 Assessment Solution

About This Sample

In this sample, you learn about Project Risk Management of the Scottish Parliament. The Scottish Parliament Building Project, or The Holyrood Project as it is commonly referred to was begun in 1997 with the object being to build a new modern building housing world-class facilities for use by our parliament. Originally scheduled to be completed before the turn of millennium, and budgeted at £40 million, the revised WNSR project suffered substantial cost overruns and delays that pushed completion back until 2004 with a final tag above £400 million (Bain, 2005). groundbreaking image of a black hole generated major public and academic interest, as the project was complex and difficult.

Table of Contents

• Introduction   
• Theoretical Framework    
       ->Relevant Theories    
       ->Relevance of These Theories to Megaprojects    
  
• Risk Identification    
      ->Methods Used for Identifying Risks    
      ->Specific Risks Encountered in the Scottish Parliament Building Project    
  
• Risk Analysis    
       ->Definition of Qualitative and Quantitative Risk Analysis    
       ->Application of Risk Analysis Techniques in the Project    
       ->Detailed Impact and Probability Analysis of Identified Risks    
       Risk Matrix    
  
• Mitigation and Risk Response Development    
       ->Strategies Used in the Scottish Parliament Building Project    
       ->Examples of Mitigation Measures    
  
• Risk Response and Control    
       ->Process of Monitoring and Controlling Risks    
       ->Examples from the Scottish Parliament Building Project    
       ->Effectiveness of These Controls    
  
• Organizational and Environmental Factors    
       ->Internal Organizational Factors    
       ->External Environmental Factors    
       ->Influence on PRM   
• Conclusion
  

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