CPMGT/302

PROCUREMENT AND RISK MANAGEMENT

The Latest Version A+ Study Guide

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CPMGT 302 Entire Course Link

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CPMGT 302 Week 1 Risk Management Small Group Discussion

Discuss the role of risk management in the project planning process in small groups by completing the related “Risk Management Discussion” learning activity.

Submit a response of 250 to 350 words in length summarizing your small group’s discussion of the role of risk management in the project planning.

A discussion summary is not a paper when you can assign sections out to team members.  A discussion summary is brief but first requires that you have a team discussion.  Everyone must participate equally and early in the week to earn full credit.

CPMGT 302 Week 1 Risk Identification Worksheet and Paper

Complete the University of Phoenix Material: Risk Identification Scenarios worksheet.

Write a 750- to 1,050-word paper in which you select one scenario from the University of Phoenix Material: Risk Identification Scenarios. Describe how risk management can mitigate the risk in the scenario. How would you document the risk?

Submit the completed University of Phoenix Material: Risk Identification Scenariosintegrated into the paper.  Submit only one document.  

Format your paper consistent with APA guidelines.

Risk Identification Scenarios

Review each of the following scenarios and identify the risk events, the probability of those risks, and the impact of the risk events. Some scenarios may have more risks than others.

Scenario One

A retail firm has a project that is focused on expansion into third-world countries to sell pharmaceutical products. The project timeline is, as always, aggressive. The scope is well documented and understood by the project team and key members of the firm. The firm is financially sound, with project funds secure; however, the stakeholders expect that the project will pay for itself within 2 years of deployment.

Scenario Two

A construction company has been awarded the contract to build a pipeline in Alaska. The project timeline is of the highest priority because work can only be completed during summer months due to adverse weather conditions. One of the suppliers of a key component has longer lead time than is required to complete the pipeline, but may be able to deliver if the construction company will pay fees to expedite. There are other suppliers, but these suppliers are not on the construction company’s approved suppler list and it would take time to get them approved. There is a huge penalty in the contract if the project is not completed on time.

Scenario Three

A telecommunications company has just assigned you to be project manager for a product improvement project. The scope statement of the project simply says, “Make this product better.” The engineering team believes that they know how to make the product better and have ignored ideas from the sales team. The project funds are secure, as the company believes that improving this product will give them strategic advantages.

CPMGT 302 Week 2 Risk Management Breakdown Structure Paper

Select an organization you are familiar with as the basis of the paper.

Read the following scenario for the selected organization:

Risk involves uncertainty, the lack of knowledge of future events, and the measures of profitability and consequences of not achieving the project goal. Your organization has decided that to be successful in the global economy it must expand its supply base into China or another country approved by your instructor. This has become a strategic project for the organization.

Resource: Figure 11-4 in A Guide to the Project Management Body of Knowledge (PMBOK®Guide)

Write a 1,400- to 2,100-word paper in which you address the following risk management items for this supplier global expansion project:

• Describe the objectives and goals, tools and techniques, and organizational roles and responsibilities for effective risk management for the project.

• Describe various information sources that may be used by the project team for risk identification.

• Identify and describe the risk management documentation that will be required for the project. Examples include RMP and risk management log or register.

• Explain the role of risk management in the project planning process.

Create a risk breakdown structure, which outlines the organization’s risk categories. See Figure 11-4 in the PMBOK® Guide. Consider the following categories:

• Project risks

  •  Business
  • Contract relationships with customers and suppliers
  • Management
  • Political

• Organizational risks
• Project management risks

  • Cost estimates
  • Schedule estimates
  • Communication

• Technical risks
• Production risks

  • Manufacturing concerns
  • Logistics

• Support risks

  • Maintainabilit
  • Warranty

•  External risks

• Procurement

  • Material availability
  • Lead times
  • Quality

• Market 

Format your paper consistent with APA guidelines.

CPMGT 302 Week 3 Risk Management Paper

Agree on using one of the organizations individual team members used in Week 2.

Your organization has determined that more resources are required to complete the project’s risk management process for the expansion into China or another country approved by your instructor. Your team has been asked to perform a risk analysis, develop risk responses, and determine how the project will monitor and control risks.

Resource: Risk Breakdown Structure from Part I and University of Phoenix Material: Risk Project Log

Write a 1,050- to 1,400-word paper in which you do the following:

• Identify the risks associated with the supplier expansion. Document those risks in the Risk Project Log template.

• Perform a qualitative risk analysis using risk probability and impact analysis.

• Perform quantitative risk analysis.

• Determine and document the criteria used to determine which risks will have a risk response plan.

• Outline the timing–when and how often–of the risk management process in the project life cycle, including risk monitoring and controlling processes. Consider the following:

• Risk reassessment
• Risk audits
• Status meetings

Format your paper and presentation consistent with APA guidelines.

CPMGT 302 Week 4 Planning Project Procurement Management Discussion

Review the Week 3 Planning Project Procurement Management (PMBOK® Guide Fifth Edition) course individually.

Discuss the Planning Project Procurement Management course with your Learning Team:

• What common tools and techniques for planning project procurement did you learn about in the course?
• What factors need to be considered in a make-or-buy analysis?

  • Describe a real-world project management example of when you would use one or more of the tools and techniques for planning project procurement your team identified.

Agree collectively on a response to the discussion question.

Submit a Learning Team response of 250 to 350 words in length.

CPMGT 302 Week 4 Procurement Planning Paper

Write a 1,050- to 1,400-word paper in which you do the following:

• Describe the project procurement planning process. See Section 12.1 in the PMBOK®Guide.

• Identify the most valuable output of the plan procurement process and explain why you believe it is most valuable.

• Explain the various contract types and describe who–buyer or seller–has the most at risk for each contract type.

• Describe a source selection criterion that would be applicable to any project and identify three criteria that would apply to most projects. See Section 12.1.3.5 in thePMBOK® Guide.

• Analyze the ethical concerns that should be considered when identifying source selection criteria.

• Explain the role of risk management in the procurement planning process.

Format your paper consistent with APA guidelines.

CPMGT 302 Week 5 Contracting Process Paper

Write a 1,400- to 1,750-word paper in which you explain the process for conducting and closing procurements. Include the following:

• Outline and explain high-level process steps for conducting project procurements.
• Outline and explain contract administration policies and procedures.
• Describe tools and techniques for the contract administration process, including the following:

• Contract change control process
• Procurement performance reviews
• Inspections and audits
• Performance reporting
• Payment process (n/30, n/60, and so forth)
• Records management system (RMS)

• Describe conflict resolution techniques used while managing contractual relationships.
• Outline steps to be taken to close out project procurements.
• Explain the importance of closing project procurements and accounts.
• Examine external influences on the procurement and risk management process.
• Analyze the relationship between the risk response plan and the external influences.

Format your paper consistent with APA guidelines.