CPMGT/302

PROCUREMENT AND RISK

MANAGEMENT

The Latest Version A+ Study Guide

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CPMGT 302 Entire Course Link

https://uopcourses.com/category/cpmgt-302/

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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.

Insert the values which correspond to the probability of those risks, and the impact of the

risk events

For each risk scenario - write a 50 to 100 word description on how you would document

and mitigate the risks you identified.

Format the worksheet by including in-text citation and a reference page consistent with

APA guidelines.

Submit the completed University of Phoenix Material: Risk Identification Scenarios

Worksheet

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.

Risk event Probability of risk event

(1=high; 3=medium; 5=low)

Impact of risk event

(1=high; 3=medium; 5=low)

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.

Risk event Probability of risk event

(1=high; 3=medium; 5=low)

Impact of risk event

(1=high; 3=medium; 5=low)

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.

Risk event Probability of risk event

(1=high; 3=medium; 5=low)

Impact of risk event

(1=high; 3=medium; 5=low)

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

o Business

o Contract relationships with customers and suppliers

o Management

o Political

Organizational risks

Project management risks

o Cost estimates

o Schedule estimates

o Communication

Technical risks

Production risks

o Manufacturing concerns

o Logistics

Support risks

o Maintainabilit

o Warranty

External risks

o Procurement

Material availability

Lead times

Quality

Market

Format your paper consistent with APA guidelines.

Performing Risk Analysis Discussion

CPMGT 302 Week 2 Performing Risk Analysis Discussion

Review the Week 1 Activity Performing Risk Analysis (PMBOK® Guide Fifth Edition)

course individually.

Discuss the Project Risk Management course with your Learning Team:

What qualitative risk analysis techniques did you learn about in the course?

o Describe a real-world project management example of when you would

use one or more of the qualitative risk analysis techniques 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 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:

o Risk reassessment

o Risk audits

o Status meetings

Format your paper and presentation consistent with APA guidelines.

CPMGT 302 Week 3 Risk Response and Control Discussion

Review the Week 2 Risk Response and Control (PMBOK® Guide Fifth Edition) course

individually.

Discuss the Risk Response and Control course with your Learning Team:

What strategies for handling negative risk did you learn about in the course?

o Describe a real-world project management example of when you would

use one or more of the strategies to handle negative risk your team

identified.

What strategies for handling positive risk did you learn about in the course?

o Describe a real-world project management example of when you would

use one or more of the strategies to handle positive risk 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 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?

o 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:

o Contract change control process

o Procurement performance reviews

o Inspections and audits

o Performance reporting

o Payment process (n/30, n/60, and so forth)

o 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.