12/12/2019 0 Comments
Risk And Project Management - Literature review Example
Risk management is â€œthe process of identifying, analyzing, and responding to business and project risk in order to minimize the consequences of adverse risk-based eventsâ€ (Barkley, 2004, p. 3). According to Silvers (2010), the management of events is complex and replete with responsibilities. The process of preparing plans and executing them requires the participation of a good number of personnel, equipment and expertise, all of which must be gathered at one location in order to accomplish the set of activities that would complete the planned project. Events may be small in scale and limited in their complexity; others would be substantially more challenging, taking a much longer time to complete, and requiring the collaboration of many other talents working in conjunction with each other, the setting (location, time, weather, etc.) and against the constraints of a budget. Because of the multitude of unknown factors, risks abound in the execution of a project, from the planning phase until the last clean-up operation. There are financial risks that pertain to the business side, implying the possibility that the expected returns may not be realized. There are also the real risks of physical injury due to fortuitous events that, despite all precautions, occur unexpectedly. The job of events management is to assess and take cognizance of all these risks, so as to allocate for the possibility that they may happen and to allow the project team to address them. The importance of this topic is attested to by a substantial number of articles and researches that have been undertaken on the topic of project. This chapter shall review the available literature on the subject. Below are two diagrams depicting the risk management process, sequentially and then functionally. Project definition and project life cycle The risks attendant to events management are of the same nature of risks to which all projects are subjected to. A project is â€œan activity that has a beginning and an end which is carried out to achieve a particular purpose to a set quality within given time constraints and cost limitsâ€ (Chartered Management Institute). Essentially, events are projects with a tangible beginning and end and dedicated to attain one result, and therefore follow the project life cycle development. The project life cycle is a representation of â€œthe linear progression of a project, from defining the project through making a plan, executing the work, and losing out the projectâ€ (Verzuh, 2008, p. 23). There are numerous ways of depicting the life cycle of a project, one of which is presented in the following diagram. http://www.maxwideman.com/papers/century21/figure3.gif The risks of doing business There are many types of projects that have different objectives; whether they are philanthropic or for profit, there is certainly a cost factor involved that places a constraint on the manner the business is run. At best, the project should earn a decent return for the organizers where the aim is fund raising or the furtherance of a business. At the least, the costs incurred must be within the limits set by the sponsors. In any case, uncertainties in the events surrounding the projectâ€™s execution may impact in the form of higher than expected costs or lower than expected revenues. According to Ibrahim (2010), it is possible to introduce some diversification in order for events
Tony Horwitz takes a journey through the South to find out why people are still obsessed with the Civil War. On his adventure, he met a wide variety of people and he learned that each person has their own opinion of the war and remembers it in their own way. The Civil War was fought by Americans, on each side, and they all should remember it the same way, but as Horwitz found out on his quest, they are drastically different and still very controversial. Horwitz described different concurrences that undoubtedly show race plays a role in how the Civil War is remembered.
The first stop of Horwitzâ€™s journey was in Salisbury, North Carolina. Here, he met Sue and Ed Curtis who introduced him to the United Daughters of the Confederacy and the Sons of Confederate Veterans. These two groups consisted of people from different backgrounds: a doctor, factory worker, gun-shop owner, etc. The only thing these people had in common was their ancestry; they all had blood ties to someone who fought in the Civil War. Their ancestors fought in the war to preserve their honor and they were fighting for what they believed in, which was state sovereignty. Horwitz was invited to attend a Sons of Confederate Veteranâ€™s meeting they had to celebrate Lee and Jacksonâ€™s birthdays. The main event of the meeting was a Lee-Jackson trivia quiz. Though it is a captivating game where one can learn facts about these two distinguishing men of the Civil War, it is just a game. It has no relevance for remembering the Civil War for what it truly was. The members are remembering certain Confederate men of the war, not the whole war entirely. At this meeting, Horwitz met several different men and had questions for them. Horwitz went see the owner of the gun shop to get h...
...hose to sacrifice to stand up for what they believed in, whether it was right or wrong. Hodge also admits to Horwitz that reenacting was a way for him to escape from the twentieth century and all the complicating matters life brings (H-209-281).
Horwitz does not believe that racism is an omnipresent characteristic in the different ways the Civil War is remembered, but he does recognize that it plays a very crucial role in the memory of the Civil War. He meets several different people (Connor, Wells, and Hodge) that show great respect and recognize the importance of the war. In his work, Horwtiz shows that some individuals and activities are more racist than others. These activities are usually performed by people who lack the knowledge of the true reason the Civil War occurred. These unfortunate people show great stupidity and thoughtlessness in their actions.
Write something about yourself. No need to be fancy, just an overview.