PJM410 MOD8 Peer Responses to a Discussion Question Please respond to both POST1: and POST2: in at least 250 words POST1: is a question from the professor in regards to my post. I have posted both the original post and my post only as reference.Original post:Project documentation, scheduling, and planning are vital to the successof any project, but the risk management plan is executed throughmonitoring and controlling. As a project manager, what method will youuse to monitor project risks? How can the results of risk management beused to gain further support for risk management in your organization?My post:Risk ManagementRisk monitoring of a project involves the identification, analysis,and planning for new risks and managing risks identified. A projectmanager plays an essential role during the process of monitoring risks.As a project manager, I would conduct performance measurement tomonitor project risks. I would focus on performance reports to develop acomprehensive image of a project’s performance based on resources,cost, risk, quality, scope, and schedule. A comparison of the actualperformance of the project against my baseline plans for the projectwould pinpoint risks that would hamper the successful execution of theproject in the future. The performance reports depend on tables, barcharts, histograms, and S-curves to summarize and organize informationthat includes the work progress of a project and earned value analysis.Consequently, I would focus on the measurement of the technicalperformance of the project to determine deficiencies in fulfilling therequirements of the project. This process helps in monitoring oftechnical risks. The measurement of the technical performance of aproject requires the identification of appropriate key performanceparameters (‘Project Management Institute,’ 2017). For this reason, suchparameters help to identify variance risk points.Results of the risk management process are useful for makingnecessary adjustments on a project or avoiding the source of riskaltogether. I would use the outcome of the risk management process torevise a risk register and add new action items to the process of risktreatment. Consequently, I would devise mitigation strategies of risksand create effective responses to risks for intuitive management.Lastly, results would also guide the agenda of organizational meetingsto decide on the next move for a project. ReferenceProject Management Institute. (2017). A guide to the project management body of knowledge: (PMBOK® guide) (6th ed.). Newtown Square, PA, USA: Project Management InstitutePOST1: (please reply)Darby,Thanks for the engagement and welcome to week eight. Risk monitoringinvolves multiple key tasks to work correctly and smoothly on aproject. The post above mentions that the project manager plays anessential role in the risk monitoring process. Who else plays a keyrole in monitoring risks? Where is this found in the projectdocumentation?POST2:As a project manager, what method will you use to monitor project risks?Monitoring risks is a huge contributor to being able to manageidentified risks in a project, and also help control unidentified riskswhen they occur. The overall purpose of risk monitoring is to make surethat risks are being monitored, and verifying compliance with the riskresponse decisions (Metheny, 2017). By effectively monitoring risks,project mangers and companies are at a higher chance of achievingproject success than those who have poor risk management. There aremultiple methods to monitoring the risks throughout a project, whichare: Conducting risk response planning on a regular basis throughout the project Reviewing risks to assess the emergence of risk events during the execution phase of a project Conducting risk audits during the project at any stage to make confirm the overall presence of the risk response plan A low number of project workarounds in response to unidentified risk events (Voetsch, 2004).The methods I would use throughout the project would be reviewingrisks and risk audits to make sure that the proper use of risk responsewas being used to manage, control and respond appropriately to allrisks, and to make sure that the risk responses emplaced are successfulfor their intended purpose.How can the results of risk management be used to gain further support for risk management in your organization? Effective risk management can be positively correlated to the successin organizations and organizations outperforming those who do notimplements risk management practices (Voetsch, 2004). Using the resultsof risk management from current and past projects can help companiesrealign risk responses, and their monitoring techniques to better fiteach risk as they are identified at the beginning of each project. Thiswill give project managers and companies an advantage to making surethat the lessons learned from each project are implemented into futureprojects for a higher chance of success. References:Metheny, M. (2013). Federal cloud computing: the definitive guide forcloud service providers. Waltham, MA: Elsevier/Syngress. doi:978-0-12-809710-6https://www.sciencedirect.com/topics/computer-scie…Voetsch, R., Cioffi, D., Anbari, F. (2004). Project Risk ManagementPractices and Their Association with Reported Project Success. Bethesda,Maryland, USA .citeseerx.ist.psu.edu/viewdoc/download/doi=10.1.1.454.3352&rep=rep1&type=pdf
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we\'ll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.