Project Risk and Quality Management

#PRQ Practical Connection: Project Risk and Quality Management

subject area:

1. Knowledge of project uncertainties and project risk.
2. Identification of risk management plans, processes, and tools in relation to project management.
3. Knowledge relating to assessing, addressing, and managing risk.
4. Knowledge of probabilistic Monte Carlo Methods and analyses
5. Understanding of analysis reports and decision-making factors
6. Knowledge of contemporary quality management concepts.
7. Identification of the most utilized and well-known quality management tools available.
8. Knowledge concerning quality management planning, managing, and controlling.
9. Understanding of quality policies, content, and assurance.
10. Communication, leadership, teamwork, critical thinking, problem-solving, and research skills.

Provide a reflection of at least 500 words (or 2 pages double spaced) of how the knowledge, skills, or theories of this course have been applied or could be applied, in a practical manner to your current work environment. If you are not currently working, share times when you have or could observe these theories and knowledge that could be applied to an employment opportunity in your field of study.
Requirements:

• Provide a 500-word (or 2 pages double-spaced) minimum reflection.
• Use of proper APA formatting and citations. If supporting evidence from outside resources is used it must be properly cited.
• Share a personal connection that identifies specific knowledge and theories from this course.
• Demonstrate a connection to your current work environment. If you are not employed, demonstrate a connection to your desired work environment.
• You should NOT provide an overview of the assignments assigned in the course. The assignment asks that you reflect on how the knowledge and skills obtained through meeting course objectives were applied or could be applied in the workplace.

#PRQ Final Paper

1. Provide an example of the upside of risk and explain the concept.
2. Explain how Enterprise Risk Management varies from traditional risk management.
3. What are five examples of internal and external drivers of an organization’s risk culture?
4. Provide an example company, and give a description of the organization and its work area. Define what a SWOT is.  Perform a SWOT for your example company and rationalize each of the company characteristics you choose.
5. Explain what a KPI is.  How might we use KPIs in doing risk analysis for an organization?  Choose five KPIs for the Amazon organization and explain why you have made your choices.
6. Explain the Delphi Techniques.  How might it be used in coming to a consensus on risk identification related to an IT-driven project?
7. A popular hotel has continued to lose business in its room service food sales over the last five years.  Using the Six Sigma DMAIC process explain what you would do in each step of the process to improve the sales – provide relevant, practical details. What statistics would you apply and why?
8. Explain the Plan, Do, Check, Act concept – provide a practical example.  How might it be applied in improving project quality?
9. Explain the concept of Continuous Improvement – provide an example. How might it be combined with a Lean approach?
10. Explain the primary inputs and outputs in the Project Management Institute Quality Knowledge Area.

APA format, 600 words