Project Risk Management Assignment Sample

Introduction - Project Risk Management 

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In this research study, it is discussed that the process of risk identification, prevention and evaluation of a project risk management. If a risk is not analyzed in a particular company's project, then the company's productivity will be decreased. In some construction companies, there is a lot of ambiguity in their legal papers and materials conception documents. The dishonesty of the higher authority will be the main reason for this risk management matter in a project. A project risk management is dependent on some criteria’s like schedule, performance and cost. In today's world, this kind of thing will be increased due to more business profit. The poor quality of materials will affect badly in the construction development project, and this is why the products will be of low quality. The project managers have to clear the objectives of a project management system, and for that reason, the risk factor will also be specified by them. The proper analysis of a project management system will produce the desired result, which can protect the company from hazards, and growth factor will be increased progressively. In this research analysis, the "kier construction group" is taken for this purpose to analyze the risk management factors.

Background

In the early days, the risk management factors were not prioritized with proper importance. Here lack of technologies was another problem factor and for that reason, the development of this construction company "Kier construction group" was dropped down. This is why nowadays; the risk factors of a project management system will be detected with innovative technologies (Muriana, 2017). The quality of materials cost of project, and performance of the staff all will be evaluated with the innovative technologies' support. Monitoring the risks is a significant thing to analyze the research study. Here, performance evaluation also takes place to reduce the risk factors in the project management of this construction company. If the budget of a project will fail then the motive will also fail, and profitability will become less of this company. A communication gap is created among the employees of this company, and managers will make a significant disadvantage to the progression of a project. It will affect the financial section of this company, and the balance will be destroyed by profit and loss (Zou et al. 2017)). The financial crisis is a critical problem of the risk management factors. In connection with a natural disaster is another risk factor in developing this project progression in this construction company. This is why the raw materials of the constructions will be affected, and products will be destroyed. This is why the reputation of this company will be decreased, and it will affect their business strategy of this company.

Analysis

The global modernization era depends on high building construction with overall skyscrapers building management process (Crispim et al. 2019). Construction of the building is so much important for every field of process of sectoral input and their productive way of process management techniques. But in the recent era, there is so much corruption and also the process for the high gained system inputs where the final variants are projected as required as current production facilities that are provided into that. In every field of business, there is a high need for the money management process (Rahimi et al. 2018). This can be elaborated as the proper way of budgeting techniques for every field of working procedure. Here the construction companies are not so much an exception from that. But this particular theoretical process of advancement is ongoing systematic productivity, where every field of their recent hazardous incidents can be overcome. Modern time construction requires more money and their productivity and business emphasize ways that can be satisfied within that (Widianti et al. 2018). This massive set of money sometimes creates confusion among the investors and stakeholders and also with the tenders. The tender given process of that particular systematic way of proceedings should go with an ethical way of processing.

Sometimes it also creates a misconception among the providing set of process functions where the money management cannot be matched. An example can be taken of kier construction group, a construction company in the UK that is going through a particular phase of a revenue slowdown. According to the expert of that particular lower ethical incident, this organization is totally about their economic loss and work balance ethical culture (Parashkevova, 2020). There is no such disciplinary management for the organization to provide a proper way of money market capacitance system. This unwanted and unethical use of money sometimes provides a particular misjudgment process and unwanted process variants mechanism. There are also several parts of processing sections where the final set variants can be produced with the current condition of shortage of money into that. In the recent era, there is also an unethical functional approach where top organizations deal with the highly efficient production team for their fundamental functional process of system mechanism function (Ghaeli, 2018). The unethical money accessing incident is the main reason for this company's lower growth in the business. There is also an incident where the actual cost cannot be matched up with the used money for the overall project cost (Rolik, 2017).

Here all incidents are happening due to lower inefficient and corrupt people in the introductory section of the real-world mechanism for any sector. The deeply based theoretical way of approaches cannot be set apart from the general processing information. The highly technical civil mechanism system is deals with their current terminology of the natural processing part of the organizational benefits. The actual set processing part of functions is provided by the conditional way of approaches for the construction company. By this particular condition of that constructional process, there must be a reputational degradation for this constructional degradation. There are several project cost mechanisms of functional system allocation where the project cost should not be high. With this high amount of project cost, there is so much technical impact of those organizational system variants where the system process of comprehensive information set can be produced in the actual condition. This same unwanted thing happened due to this particular unwanted processing for the functional money building profit mechanism. Kier group of construction is going through this specific condition of that particular process of system providing methodology into that. There are no such approaches where this organization can show their client to provide the system's actual outcome. There is also a remedial process of system variant of study. This constitutional organization can provide the actual outcome of the objective process to increase the real organizational impact. The fundamental ethical way of business should be clean in being attached to their work ethics process. "Kier group construction" should go with the current final systematic development process with proper money management procedures. There is no such way of fundamental study approach where unwanted, unauthorized use of money can be given in the terminology of main variants of the functional process of central eliminating technical part processing units. Raw building materials should be of good quality, and the processing part of that creation should go with a proper architectural view of the system process.

There is so much processing theory where every part of the study can be produced in the current set of processing system mechanisms where the actual helpful information way of development can be produced in the current sectional input (Burkov et al. 2018). "Cost overrun mechanism" is the current set of overall highly excessive use of money that sometimes costs the real world a lower facility of functional advancement. In the recent era, there are so many points systems for that particular construction company. "Kier group" is created by their lower efficient people where the financial development cannot be matched up with the current set up of overall productive approves for the high gain profit, and lower amount of the actual way processing functional system production input cannot be matched up by that organizational team management process (Halou, 2019). The construction company's technical way of system process is being created with the site management procedure. The production system impact cannot be in the proceedings systematically overlooked procedural approaches. In recent times, there are so many production ways of fundamental approach of the natural world variants of settlement for the process's particular organizational impact. Several parallel theories are being preceded with that of production way of processing for construction management systems where the final file can be produced in the current technical way of building materials and produced on the current system function process. The actual technical terminology cannot be in the current process of terminology. The systematic developmental way of the actual outcome can be implemented in the process variants function onto that (Ghasemi, 2018).

"Mitigating" a system provided a way of overall variants of system study cannot be produced on the system providing function cannot be produced on the process of functional system variants. It is a systematic way of the process where the final production input is provided based on the required hard way of the developmental way for objects into that. The construction organization is always provided with a particular high efficient technical team where the proper way of architectural design can be produced with the set process production function of a developmental set of approaches on the basis of the overall process aspect into that. The cost of the building materials is the main issues regarding the proper money management process (Liu, 2020). The building material providing companies should go with the actual set of organizational input of the study where the required processing part can also be produced in the current set of organizational system domain. Globalization means building the newly developed city with the newly developed city in fracture of the real world entity of processing file where the organizational input can be produced in the current production set of main processing units where the limitation for any organization can be maintained. Government should be clear where the real processing way for functional regulations can be imposed within this.

 The next part of processing functions also provided with recent organizational development. "Kier construction group" should be a functional process of approach where the main processing point of the system variant should not be similar to the current condition of the main functional point of approaches. In the recent processing part of the overall system process, outsource functional point of the main methodology of generations of newly built system output cannot be in the part of the system process approach within the actual amount of process study within that. In the recent systematic way of overall process apprentice, the organizational way of approaches are set beside by the functional point of achievements and the constructional guideline should be maintained in the technical way of revenue and profit generation procedure. According to the recent time of overall development of the project, the main developmental way of approaches cannot be in the similar set of processing units of the part onto that. Certain variants of the business study are being preceded with the actual functional part of the overall information set that must be in the constructional point of approach which should go into it. In the recent era of modernization, there are overall systems to produce a particular set of information sets where the high gain huge efficient team can be on the side of the processing management team. There should be limitations also for the uses and production process of systematic ways of developmental units that should not be so excessive, which breaks the government law for their functional set of advancement.

"Kier construction group" can overcome their so much functional point of system process units where they should follow every ethical step and rules where the fundamental system process can overcome their real set of a functional system of civil construction mechanism theory onto that. Basically, the process to create high overpowered building materials is the current set of processes where the organizational system variants can be satisfied with the actual processing unit of system product outsourcing onto this. The limitations here denoted as the restriction for the given fundamental set of data input variants. In modern terminology, several aspects of the study are being explained as a class apart from a fundamental set of approaches where every organizational team will be responsible for the systematic growth of the organizational elements of function. In the modern era, the main process of technical aspects of the real study set of import must be in the current terminology of the actual system process impact of the real study processing units. Here the current set of functional achievements where the strength is defined as this theoretical aspect of strength where the main processing part should be in the required domain interface of the infrastructural aspect of the main method of the study.

In the recent times of modern rules where project aspect is produced on the certain site variations where the final processing production input cannot be in the recent way of modernization can be in the set processing of city infrastructure projects should be in the current scenario of the observational process of index should be in the current set process where actual processing management is being created within the current situational objects should be in the scientific processing part of the overall set function that should be in the current processing way of overall development. That the current situation index should go with the organizational team aspect can be in the situation processing part of their site visiting system process that their responsible organizational team can be managed on to this (Shayan, 2019). The bad track record is the current set of systematic ways of processing indexes where the final way of path selection from both technical and production indexes can be implemented and compiled into this.

Project aspects are the limitations of the main systematic way of technical project function that their final processing part of the system cannot be in the same set of bad records for the main management system of construction companies. Basically, the building material generation companies are also attached within the current set of providing functionality for the business into this. The recent modern civil engineering study is thoroughly focusing on the actual need of main function processing by part of executing the current government rules for the overall process of study into this (Saad, 2020). Basically, the Construction Company is also dealing with the current variants of building material information for process management procedure where the final productive way of theoretical aspect can be satisfied with their required investment for this organization. If this type of process part can be solved, then there must be a business growth with an ethical way of production input onto this.

Recommendation

In this research study, it is analyzed that the analysis will be done in an authorized manner in this risk management of a project. This is why the Government takes some legal rules to prevent the illegal actions in a project of this construction company. The infrastructure of this construction should be stronger to develop a project in a progressive manner. The conflict in between the schedules of project planning and incomplete status of the project at the deadline is other factors of risk management of this construction company. These will be removed by the strong technical infrastructure and sensible, experienced managers. This is why the evaluation process of this company will be executed in a scientific approach, and this criterion will affect the progress level of this company. Depending on this factor, this company will go forward to touch the peak level of success. It is also highly recommended that the main project should go with the proper advice from the scientists and their overall creational point of system building methodology on the basis of rules. The rules for that particular process impact cannot be in the system terminology of the overall building development management system. "Kier construction group", which is taken as an example of the real-world system for project variants of particular knowledge-based aspect their unwanted system variants, can be produced on the basis of their functional achievements of the creation process of system study onto that. The recommendation should go with their actual requirements of the processing study into that overall balancing atmosphere of the real processing functional part of information variants system function can be in the terminology of a real system by parts which should be produced in the production input of bad track record of the construction organization. Rules should be made in a proper way of system aspect where the unwanted processing part of system organizational point of approaches can be solved within their actual impact of the production input of study system procedure (Sarfraz, 2018).

Conclusion

In this research study, it is clear that this construction company, "kier construction group," should measure the key risk factors for the risk management system of a project to achieve success. The ratio of profit and loss will be analyzed by these factors to maintain the business strategy of the company. This is why the wrong materials will be another factor of risk management in this kind of project, which will collapse the progress level of this company. Including this factor, the quality of the products will below, and it will affect the reputation of this construction group. The cost factor and performance analysis are other factors which will enhance the total risk management of a project. In this research analysis, a successful outcome will be generated, which will impact the project development. This is why the evaluation of the risk factors are very necessary to establish a clear viewpoint. Identification of a risk factor in a project should be identified in the duration of project planning, and for that reason, it will be the major cause of unsuccessful project management. This is why this construction group has to understand the key factors of risk management in a project which imply the construction of a project before developing it. The employees should be aware of it before working on the project and have gained basic knowledge of this project. This research analysis implies that the process of reduction of risk management features will enhance the progress graph of the company.

References:

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