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Risk management and Communication with Customers

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All projects are plagued by all sorts of risks throughout the entire process. Risks are just part of the game.

However; not all risks have an equal probability of occurrence, nor are they all equal in potential impact. It is important to sort out the highly probable and the high impact risks so that you can concentrate on them rather than the low impact and highly improbable risks.

One way to help in this process of identifying the risks is to organize your project team to sort the high probability and high impact risks from the low probability and low impact risks. How might you organize your project team to identify and manage the risks accordingly?

In your role as a project manager (PM), a big part of your responsibilities will be customer communications. The PM must communicate to the customers and that means all customers of the project. Discuss what your communication strategy would be and its frequency and type, in order to be sure that all stakeholders of the project are constantly informed.

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Solution Preview

It should be kept in mind that the management of risks continues throughout the lifecycle of the project. Developing the list of risks should happen as early as possible within the project to ensure effectiveness. With this said ...

Solution Summary

Discusses how a project team will look at risk and how this will be communicated to the customers.

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See Also This Related BrainMass Solution

Organizational culture is related to project management

1. Consider the following information about a project:

Customer Complaint Frequency/Week
Customer is on hold too long 90
Customer gets transferred to wrong area 20
Service rep cannot answer customer's questions 120
Service rep does not follow through 40

Create a Pareto chart in Excel based on this information.

2. Project HR Management.
a. Very briefly describe situations where it would be appropriate to create a responsibility assignment matrix, a RACI chart, and a resource histogram.

b. In a sentence, what is the difference between resource loading and resource leveling? Provide an example of when you might use each technique.

3. Project Communications Management.
a. What key items should a communications management plan address?

b. How many different communications channels does a project team with six people have? How many more communications channels would there be if the project grew to ten people?

4. General.
a. What is the triple constraint?

b. What is a PMP certification? What do you need to do before you can take the PMP exam?

c. In one short paragraph, describe how organizational culture is related to project management.

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