Discuss a hypothetical carbon capture and storage (CCS) project, called Curiosity, and investigate its uncertainty exposure.
Discuss a hypothetical carbon capture and storage (CCS) project, called Curiosity, and investigate its uncertainty exposure.• Demonstrate application of standard deterministic methodology to identify, assess, and address the project uncertainties.• Demonstrate integrated probabilistic cost and schedule risk analysis methodology to define project reserves and sensitivities.• Develop and analyze what-if scenarios used for decision making.• Come up with general recommendations and decisions that are common for a capital project at the end of selection.
Requirements: 5 pages
MGT 315 Case Study Project Guidelines and Rubric Throughout this course, you will develop an understanding of the deterministic and probabilistic methods used in uncertainty management that will enable you to review a simplified “straw man” case study of a hypothetical project. The purpose of the case study is to: • Discuss a hypothetical carbon capture and storage (CCS) project, called Curiosity, and investigate its uncertainty exposure. • Demonstrate application of standard deterministic methodology to identify, assess, and address the project uncertainties. • Demonstrate integrated probabilistic cost and schedule risk analysis methodology to define project reserves and sensitivities. • Develop and analyze what-if scenarios used for decision making. • Come up with general recommendations and decisions that are common for a capital project at the end of selection. There are two parts to the Case Study Project: two PETRA figures (created in Excel and inserted into a Word document) and an essay portion. Follow the guidelines below to complete each part of your case study project. 1. Create two PETRA templates in Excel (Raydugin, 2013, pp. 145-147) and enter the causes, impacts, and addressing actions identified in Risk 1 and Risk 10 respectively into each PETRA. You will have to link the addressing actions with the causes and impacts. 2. For each cause identified, you should ensure there are preventive actions stated in the PETRA Excel template. The preventive actions should include the ones you already have from Risk 1 and Risk 10 plus at least two additional actions formulated by you for each risk. No cause should be unaddressed. 3. For each impact identified, you should ensure there are recovery actions stated in the PETRA Excel template. The recovery actions should include the ones you already have from Risk 1 and Risk 10 plus at least two additional actions formulated by you for each risk. No impact should be unaddressed. 4. Write an essay that discusses your PETRA analysis results (include your two PETRA templates in the essay) and what additional recommendations you would make if you were on the case study decision gate review board. In other words, will the additional information provided by your PETRA analyses of the two risks affect the findings and recommendations of the review board (see the section “Decision Gate Review Board Findings and Recommendations” in Raydugin, pp. 350-352)? If so, explain why. If not, explain why. 5. Be sure to cite your source(s) in the essay. In summary, your assignment will be to evaluate Risk 1 and Risk 10 identified in the case study using Project Execution Through Risk Analysis (PETRA). PETRA is discussed in more detail in Module 5, Assignment 3. You will use your PETRA results to discuss what additional recommendations you would make. The written part of the essay will be in APA format and greater than or equal to one and a half (1.5) double-spaced pages. The overall length, including the PETRA figures and any other figures, should not exceed 10 pages.
Criteria Description of Achievement Fails Expectations Meets Expectations Exceeds Expectations Total Points Content, Organization, and Structure • Essay was extremely well written and easy to follow. • Essay contained references to application of knowledge, information, and/or best practices from the text or other sources. • Responses and examples provided were contextually relevant to the assignment. • Essay paper is greater than or equal to one and a half (1.5) pages in length, double-spaced. • Two PETRA tables are inserted into the essay. 0-69 70-74 75-85 __/85 Grammar/Spelling/ Punctuation • Response contained no misspellings, grammatical, or punctuation errors • Sentences were well organized and complete. 0-5 6-9 10 __/10 References and Formatting • Student included relevant references from textbooks, articles, other scholarly and practitioner references, interviews with subject matter experts, etc. • Student used APA formatted citations and references. 0-3 4 5 __/5 Total ___/100
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