Management
Final Paper Assignment: Strategic Risk Management in Modern Projects
Final Paper Assignment: Strategic Risk Management in Modern Projects
Purpose
The final paper is your opportunity to synthesize and apply the core concepts from David Hillson's Managing Risk in Projects. The objective is to move beyond theoretical understanding and demonstrate the ability to analyze complex, real-world business problems through the lens of strategic risk management. You will choose one of the three paper options detailed below.
General Instructions
Length: Approximately 5 pages (1,250-1,500 words), double-spaced. This excludes the title page and references.
Sources: Your analysis must be supported by concepts from the course textbook, Managing Risk in Projects. You are also required to cite at least three additional reputable sources (e.g., academic journals, Harvard Business Review, major business publications).
Formatting: Please use a standard 12-point font (e.g., Times New Roman), 1-inch margins, and APA style for all citations and references.
Submission: The paper is due finals week via the course portal.
Option 1: The Human Element in Project Failure: A Post-Mortem Analysis
Core Textbook Focus: Chapters 5 (Risk and People) & 8 (Risk Leadership).
Task: Select a well-documented project failure from the past decade (e.g., a major product launch failure, a problematic merger/acquisition, a government IT project disaster). Your paper must analyze this failure specifically through the lens of human factors and leadership.
Paper Structure:
Introduction: Briefly introduce the chosen project and state your thesis regarding the role of human factors in its failure.
Diagnostic Analysis: Identify and analyze at least two significant cognitive biases (e.g., optimism bias, confirmation bias, sunk cost fallacy) that likely distorted the project team's perception of risk and influenced key decisions. Provide evidence from your research to support your claims.
Leadership Evaluation: Assess the role of "risk leadership" (or the lack thereof) from senior management and the project sponsor. How did the leaders' actions, attitudes, and communication shape the project's risk culture? Did they foster psychological safety or discourage the reporting of bad news?
Prescriptive Recommendations: Propose specific, actionable recommendations. What governance structures (e.g., independent reviews, a "red team" challenge function) and leadership behaviors could have mitigated these human-centric risks and potentially altered the project's outcome?
Purpose
The final paper is your opportunity to synthesize and apply the core concepts from David Hillson's Managing Risk in Projects. The objective is to move beyond theoretical understanding and demonstrate the ability to analyze complex, real-world business problems through the lens of strategic risk management. You will choose one of the three paper options detailed below.
General Instructions
Length: Approximately 5 pages (1,250-1,500 words), double-spaced. This excludes the title page and references.
Sources: Your analysis must be supported by concepts from the course textbook, Managing Risk in Projects. You are also required to cite at least three additional reputable sources (e.g., academic journals, Harvard Business Review, major business publications).
Formatting: Please use a standard 12-point font (e.g., Times New Roman), 1-inch margins, and APA style for all citations and references.
Submission: The paper is due finals week via the course portal.
Option 1: The Human Element in Project Failure: A Post-Mortem Analysis
Core Textbook Focus: Chapters 5 (Risk and People) & 8 (Risk Leadership).
Task: Select a well-documented project failure from the past decade (e.g., a major product launch failure, a problematic merger/acquisition, a government IT project disaster). Your paper must analyze this failure specifically through the lens of human factors and leadership.
Paper Structure:
Introduction: Briefly introduce the chosen project and state your thesis regarding the role of human factors in its failure.
Diagnostic Analysis: Identify and analyze at least two significant cognitive biases (e.g., optimism bias, confirmation bias, sunk cost fallacy) that likely distorted the project team's perception of risk and influenced key decisions. Provide evidence from your research to support your claims.
Leadership Evaluation: Assess the role of "risk leadership" (or the lack thereof) from senior management and the project sponsor. How did the leaders' actions, attitudes, and communication shape the project's risk culture? Did they foster psychological safety or discourage the reporting of bad news?
Prescriptive Recommendations: Propose specific, actionable recommendations. What governance structures (e.g., independent reviews, a "red team" challenge function) and leadership behaviors could have mitigated these human-centric risks and potentially altered the project's outcome?
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