Risk Management by https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s Week 5 en-us 2021-09-06 06:13:11 UTC 2021-09-06 08:34:58 UTC hello@padlet.com Exercise One - reflection on week material negarhosseini https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718657994
  • Thinking about your undergraduate study area or working experience - what are the typical risks in your industry?

    • ]]>     2021-09-06 06:21:03 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718657994     Exercise Two - Discussion forum question negarhosseini https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718659816 After reviewing the case study individually return to your groups and answer the following:
      1. Thinking about the risks discussed in the case and this weeks module material - could all of the risks that Boeing faced be expected?
      2. Pick one risk and identify alternative response strategies
      3. In your opinion - did Boeing effectively manage risk on the project?
    ]]>     2021-09-06 06:21:55 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718659816     Exercise One corbynye https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718761613 Renewable Energy 
    (Photovoltaic power generation project)
    Construction Risk:
    –Quality, standards and specifications, budget, schedule, construction delays, costs overruns and performance shortfall]]>     2021-09-06 07:09:11 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718761613     Construction (Jiaqui & Jahnsen) https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718766651 - Human Resource risks (skilled labour)
    - Schedule Risks
    - Cost Risks
    - Latent conditions 
    - Health & safety/environmental risk (asbestos)
    - Build ability & quality 
    - Force majeure (black swan events)

    ]]>     2021-09-06 07:11:43 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718766651     Automobile industry hlia5773_2 https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718767988 1. Safety risk: mechanical equipment will be used in the assembly process of auto parts, and it will cause danger if it is improperly operated
    2. Labour risk: The automotive industry requires standardized procedures for operations. If employees make mistakes, they will cause delays in delivery
    3. Supply risk: supplier quality issues and delivery delays
    4. Technical risk: artificial intelligence equipment will cause the leakage of user information]]>     2021-09-06 07:12:27 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718767988     Agile Scrum- Software development (Polina & Jahnsen) https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718768000
  • CHURN (business risk but at times relates to projects)
  • Incomplete requirements.
  • Lack of communication. Teams and Users are not involved.
  • Unrealistic expectations & Wrong effort estimation 
  • Schedule risks (not enough resources)
  • Security: Data breach & Data confidentiality 
  • Governance: Poor data control & governance
  • Governance: Data location uncertainty & lack of transparency
  • Documentation (GDPR, security measures)
  • Technical risks (frequent change in requirements, complex projects, number of skilled developers)
  • Error in communication

    • ]]>     2021-09-06 07:12:27 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718768000     Exercise One https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718768038 Civil Engineering:
    - Design of the structure is not appliable to the fact situation
    - Phase 2 risk - can be avoided or mitigated in phase 1, like site investigation, etc.

    IT Marketing:
    - Change of scope frequently by the Sponsor.
    - Phase 2 risk - This can be avoided in phase 1 by set up a contract and rules. Or Phase 2 mitigation by communicating and etc.

    Consulting Industry:
    - Policies and regulations are changing frequently by the regulatory bodies.
    - Can be mitigated in Phase 1, be prepared for the relevented polices and rules.]]>     2021-09-06 07:12:28 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718768038     Exercise 1 https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718768622 Real estate: 
    Safety issue
    Project delay
    Overbudget
    Government policy change]]>     2021-09-06 07:12:45 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718768622     Exercise One- aviation/manufacturing https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718769213 Aviation industry: 
    Operation risks: Foreign object debris to the airplane. audit certification requirement. supply chain risks. geopolitical risks. personal health risks.]]>     2021-09-06 07:13:00 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718769213     Biology https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718769320 virus inflection due to uncareful experiments]]> 2021-09-06 07:13:04 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718769320 Lawyer Risk june0221r https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718769751 My undergraduate internship was as a paralegal in a law firm, where I discovered that the biggest risk for litigators is the false narrative of the client, and that many people who come to a lawyer will choose to hide or make up facts, which can lead to errors in the lawyer's judgment, resulting in a deadlocked case or even a failed defense.]]> 2021-09-06 07:13:16 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718769751 Exercise one tili27381 https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718770469 Manufacturing - Quality risk - substandard product quality will cause rework and finally cost overrun]]> 2021-09-06 07:13:39 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718770469 Network Technology zuyang0205 https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718771406 Network data risk: There will be network attacks, stealing network data, and attacking the company network.]]> 2021-09-06 07:13:48 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718771406 Art Management https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718771797  Artists don't show up on opening ceremonies.
    Fake arts ]]>     2021-09-06 07:14:00 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718771797     Exercise one https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718772897 In civil engineering site construction, the biggest risk is the safety of labors. ]]> 2021-09-06 07:14:33 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718772897 Computing equipment https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718773642 Raw material prices fluctuate. In the past few years, for example, the price of memory and graphics cards has risen dramatically due to the popularity of coin mining. That puts price pressure on computer makers.

    ]]>     2021-09-06 07:14:55 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718773642     Construction https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718773655 Worker accidents and injuries.
    Poorly defined scope.
    Unexpected increases in material costs.
    Labor shortages.
    Damage to equipment and tools.]]>     2021-09-06 07:14:55 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718773655     Exercise One https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718774139 Construction Risk
    - Workplace & Health Safety 
    - Environmental Protection 
    - Quality Assurance 

    ]]>     2021-09-06 07:15:05 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718774139     Financial Industry kzhu4232_2 https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718776148 Market risk: a common factor that affects the prices of all financial assets in the market and is universal.
    Unsystematic risk: a factor that affects a certain asset or a certain group of assets. It is not universal and can be reduced or eliminated through investment diversification.

    ]]>     2021-09-06 07:15:48 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718776148     HR IN RETAIL https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718776505 candidates dont show up to scheduled interviews

    inefficient training due to misunderstanding in duties ]]>     2021-09-06 07:16:00 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718776505     Exercise 1: Industrial Internet field https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718776970 The Industrial Internet field, which can also be called the Internet of Things, involves the combination of information systems (IT) and industrial operating systems (OT), the network security issues that were originally restricted in the information systems will be enlarged to the whole industrial field. This causes the entire risk to be magnified.]]> 2021-09-06 07:16:16 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718776970 Exercise 1: Disconnection of the industrial chain https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718780183 In industrial research work, the biggest risk is the disconnection of the industrial chain. The missing link in the middle will affect all companies in the integrated industry.]]> 2021-09-06 07:18:00 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718780183 Consulting https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718780220 Incomplete information provided by the enterprise will lead to the failure of the work

    ]]>     2021-09-06 07:18:02 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718780220     Public Relations (Caroline) https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718780224 - Reputation 
    - Strategic risk 
    - Financial risk 
    - Operational risk]]>     2021-09-06 07:18:02 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718780224     Internet finance industry jxue3148_2 https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718780552 1. Technical risk: the Internet finance industry brings together a large amount of money, and if there are loopholes in the program will lead to the loss of a large amount of money
    2 Management risk: The Internet finance industry may lead to a break in the capital chain if there are problems with management.]]>     2021-09-06 07:18:11 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718780552     Rolling Stock Industy https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718780908 Budget Risk: The costs of rolling stock project are huge, and most projects will exceed the original budget as planned.
    Scheduled Risk: The rolling stock project in Australia are extended in schedule due to different reasons in different aspects.]]>     2021-09-06 07:18:23 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718780908     Exercise one https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718781624 - Advertisement risk（Shortage of creativity；Balance payment in arrears）
    - Industry design risk（Difficulties of 3d model transforming real objects；Intellectual property copying；Computer software system failure）
    - International trade risk（Force majeure；Uncertain factors affect the delivery of goods）
    - Economy risk（Not meeting customer needs；Performance affects wages）
    -International business（Monetary risk;Liquidity risk
    Liquidity risk refers to the fact that a company or market is affected by human operations or force majeure, which leads to capital shortage or even exhaustion. Currency risk means that the currency in the market is affected by inflation, which affects the value of financial products and real products.)]]>     2021-09-06 07:18:48 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718781624     Construction - Building Service tzha94301 https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718785951 - Cash flow safety & stability
    - Delivery Effectiveness
    - Weather conditions & unexpected delays
    -Labour fource avalibility ]]>     2021-09-06 07:21:00 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718785951     Industrial engineering https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718787424 -Unbalanced capacity planning leads to unreasonable resource utilization.
    -The lack of in-depth research on workers' working hours and movements leads to low labor productivity.

    ]]>     2021-09-06 07:21:47 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718787424     Exercise one https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718792961
     Construction & Property

    • The most common Schedule risk.  Schedule slippage due to unplanned budget overruns and delays. 
    • Accidents arising from inattention to safety and weather factors
    • The impact of pollution on the surrounding environment, causing dissatisfaction among residents

    ]]>     2021-09-06 07:24:42 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718792961     Exercise one https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718796044
    Finance - Currency risk 
    - uncontrollable exchange rate changes and political changes may result in unpredictable losses in foreign investment.



    ]]>     2021-09-06 07:26:20 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718796044     Consulting (Nate) https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718801677 Competitive Risk 
    Financial (Foreign Currency Risk)
    OH&S Risk (PPE for waste activities)
    Political Risk (Foreign government risk)]]>     2021-09-06 07:28:33 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718801677     Media industry: https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718801941 The company's business development can not keep up with the trend, so it needs constant change and renewal.]]> 2021-09-06 07:28:43 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718801941 Construction 2336484240 https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718802647 The classic risks of working on a construction site are:

    Personal safety risk: most construction structures are very simple, so it is easy to collapse, falling accidents. Safety equipment such as helmet and protective clothing must be worn on the site

    Risk of material nonconformity: Construction materials that do not meet specifications may be supplied due to the supplier's failure to accurately understand the procurement criteria. Therefore, when purchasing, the construction department often requires a detailed specification list and responsibility sharing contract

    Project delays: Often due to weather or a change in the scope of the project, more work is added
    ]]>     2021-09-06 07:29:09 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718802647     https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718820964 Appropriate processes and methodologies
    Data security risk
    Cyberspace risk]]>     2021-09-06 07:38:28 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718820964     Exercise two whua7877_2 https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718842309 Because risks are uncertain, not all risks are expected.
     
    Management risks-The project team does not have professionals with supply chain risk management knowledge to deal with 787 unconventional problems
     
    Risks response（Matigation）- Introduce talents with supply chain management skills
     
    Inefficient-The company did not fundamentally solve the problem. Take "Management risks" as an example, because the replacement of the CEO has led to changes in the entire senior management.
    ]]>     2021-09-06 07:49:21 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718842309     Boeing https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718898064
    Q1. No,Boeing didn't solve all the risks of the 787 Dreamliner supply chain.
    Q2.Supply chain risk：
    - Pay more attention to internal management support
    - Manage customer expectation and intention
    -Organize leadership team and employee manufacturing operations specialists.
    -Promote supply chain transparency and team communication
    Q3. 
    Our group opinion is that all the Boeing effectively managed most of the risks, but there still were some issues that they didn't expect. So they don't have the detailed plan for them. ]]>     2021-09-06 08:21:59 UTC https://padlet.com/negarhosseini/l7v7g6p50rr9ny6s/wish/1718898064