Risk Process, Risk Life Cycle, and Risk Management Techniques - Coursework Example

The paper “Risk Process, Risk Life Cycle, and Risk Management Techniques” is a meaningful variant of the coursework on management. Week 1 and 2 covered Risk process, Risk life cycle, risk management techniques and terminologies, and risk Plans and registers. Initially, I understood a risk management process as consisting of a set of actions planned to guarantee effective management of risks that can be anticipated in a project. Of course, I was aware that the set of actions should apply during an entire life cycle of a project. What I learnt from the lectures was not much different from my earlier assumptions. Yet still, I did not know how to go about the processes and techniques of managing risks in addition to the life cycle of risks. I must acknowledge that the lecture expanded my views on these knowledge gap areas.

Lectures

Attended lectures and read lecture slides

Used the lecture slides are a reference point for further research

Journal

Gasik, S 2015, An Analysis of Knowledge Management in PMBOK Guide," PM World Journal, vol 4 no 1, pp.1-13

Understanding PMBOK Guide

Article

Standards New Zealand 2010, AS/NZS ISO 31000:2009: Joint Australian New Zealand International Standard Risk management – Principles and guidelines, viewed 22 May 2017, <http://www.dvbi.ru/risk_management/library/tabid/213/token/download/ItemId/60/language/ru-RU/Default.aspx>

Understanding AS/NZS ISO 31000:2009

Book

PMI 2000, A guide to the project management body of knowledge, Project Management Institute, Pennsylvania

Understanding PMBOK Guide

In the process of learning about risk management processes, I perceived how modern-day organizations have inculcated ‘positive thinking’ attitudes to bring about a mindset that everything can be achieved. In my organization for instance, while it is a fact that my team had tended to solve many problems with the right attitude, motivation, and leadership, this has never been a reason to adopt risk management in projects. In fact, I realized we had no such thing as a planned risk management process in my workplace, despite managing risks on a daily basis. In fact, it seems to be by the sheer luck that we get projects to run to completion.