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    Strategic Risk Management in the Oresund Bridge case

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    Please use the following web sites to answer the questions:
    Official web site for the Oresund Bridge - http://uk.oresundsbron.com/page/34
    An official public information site with up-to-date information on the region, available in English - http://www.tendensoresund.org/en

    TCO A:
    1?What process would you use for identifying project risks for a second Oresund Bridge project? What risks would you raise for each alternative?
    2?What process would you use for categorizing project risks for a second Oresund Bridge project? How would you actually categorize them?
    3?What process would you use for ranking project risks for a second Oresund Bridge project? How would you actually rank them?

    TCO C:
    1?How would you identify the key decision paths and options that can be anticipated in the project? What are these key decision paths and options in your opinion?
    2?How might you use a decision tree analysis to evaluate the alternatives? What numbers would you use in this analysis?
    3?How might the techniques we have learned so far have helped the first Oresund Bridge project? Why?

    TCOs B & D:
    1?What risks would you add to a risk matrix for this project to build a second Oresund Bridge?
    2?For the risk you named above, how would you categorize that risk? Please include risk impacts, risk probabilities, risk severity, and risk response categories.
    3?What types of opportunities might you see for this second Oresund Bridge project?

    TCO E
    1?What information should be contained in your Risk Management Plan for this second Oresund Bridge project?
    2?What tools and techniques would you use for the second Oresund Bridge to proactively managing risks? Please describe the tool.
    3?What kinds of outputs would be expected from the Risk Monitoring and Control process?

    TCO F
    1?What factors would need to be considered before developing a risk-based schedule for the new Oresund Bridge Project?
    2?Given the project description and identified risks, what would be the key factors in your sensitivity analysis? Why?
    3?Do you think that your analysis would help to determine the effects of the previously identified risks on the project? Why or why not?

    TCO G
    1?As an Oresund Bridge project manager, how would you determine when project work should be contracted out, and how does risk enter into the decision?
    2?What kinds of contract types might be good to use for the second Oresund Bridge Project?
    3?Share examples of issues that surfaced in the original Oresund Bridge Project related to contracts. What could have been done to prevent the impact to the contract (if anything)?

    TCO H
    1?What types of items might you include in our new Oresund Bridge project's Risk Management Plan? In what ways would this help mitigate project risk?
    2?How would you communicate those risks to the appropriate stakeholders so that key decisions regarding risk management can be made?
    3?What are the key things you have learned this session from our sets of discussions on the second Panama Canal Project that might apply to the second Oresund Bridge Project?

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    Solution Preview

    Risk Management Case Analysis

    This case is about the Oresund Bridge, which links the Danish capital of Copenhagen with Sweden's third-largest city, Malmo (About Us: Oresund, 2009). This bridge is an engineering marvel. The success and recognizable design of this bridge's project is due to appropriate application of project management and strategic risk analysis. Here, in this paper, we will analysis the case in accordance to risk management analysis for the second Oresund Bridge Project, which will be soon taken by the authorities. So, we can say this case analysis deals with second Oresund Bridge project's risk analysis in regard to first project's strategic risk management.

    TCO - A

    1. For a second Oresund Bridge project, we will make use of Project Planning for identifying risks as it will help in identifying the challenges that second bridge project may encounter after starting. The various risk alternatives that can occur throughout the Project Planning are risks in regard to schedule, scope and resources.

    2. For categorizing project risks for second bridge project we will work on identifying the uncertainties and risks from the beginning along with the quantification of their possible impact on goals, ranking risks as the basis for action project planning and demonstrating contingency plans in the event of an adverse outcome. In addition to this we will quantify the possible impacts of the risks against project cost so that essential measures can be taken at time for making a project successful.

    3. Subsequent to categorizing the probable risk to the project we will quantify the project risks on the bases of its impact on the project activities so that risks can be ranked in order they need to be handled prominently. The identified project risks would be ranked by identifying different risks like scope risks, schedule risks and cost risks and quantifying their impact so that they can be ordered for handling and managing by the project members.

    TCO - C

    1. A project authorities or project manager can identify the key decision paths and options along with a work breakdown structure that will acknowledge the project members with the essential decision paths and options. These key decision paths and options include, identification of scope, schedule and resource related risks along with the required period to complete each task and activity involved in second bridge project.

    2. Decision tree analysis can be used as a fundamental tool from the broad area of risk analysis. This will help us in mapping the key problems and risks associated with bridge project along with the offering of working initial hypothesis as to the likely solution to confronted risks and problems (Risk Analysis & Management - A Framework, 2005). Numbers depends upon the likely solutions of a problem or risk as the tree will start with general problem or risk but it will goes on till the likely solution is find.

    3. The techniques like key decision paths and options along with decision tree analysis have prominently helps the first Oresund Bridge Project. All ...

    Solution Summary

    The expert examines strategic risk management in the Oresund Bridge case.