Important: Please reaspond the the two students’s discussion posts down below. It will be marked as response 1 and response 2, please do one response for each. Make sure you relate to what they are saying and keep the conversation going. Keep it somewhat casual but still academic.
No plagiarism, please upload a plagiarism report.
RESPONSE 1: About 135 words
When it comes to an organization being stronger together instead of the constituents acting independently, it’s great to consider the amount of strength that comes with a united front. Using the same perspective when it comes to project risks remains true as well. When it comes to a program having independent risks, it’s easier to mitigate those smaller fires by having staff that can help before letting it grow into something more devastating. Smaller project risks could cause a domino effect, becoming so critical that it can stop a program altogether. An enterprise generally outlast projects because of the structures and systems they have in place. In an enterprise, they would likely have a robust risk management framework that is incredibly successful in mitigating risks across programs and projects.
RESPONSE 2: About 135 words
Discussion #1: The whole is often greater than the sum of the parts. What are some considerations when aggregating “project” risks to the “program” level?
Many projects can increase the risk on the program level. For example, in a construction program, the jobs of the painter, drywall hanger, concrete mixer, electrician, etc., combine to make the mass, the whole, or the sum that works under the general contractor. Aggregating is like having all the funds in one account. In other words, all the skilled workers are under one project. However, if one of the jobs is not completed, it could cause some risk to the program level. These are some of the considerations when aggregating project risk to program level. It could cause late deliveries of goods, extra costs over budget, improper permits, lack of skilled workers, or material costs.
Discussion #2: Enterprises generally outlast projects, programs, and portfolios. How do you see this impacting the approach that an enterprise must take to risk identification and management?
I do not understand the second question. Since I don’t want to butcher the answer, I will limit the conversation to what I think.
Enterprises, identification, and management risk consist of minimizing the cost of finances, legal contracts, and/or nondisclosure terms to any organization or business.
