Problems Faced By Using Risk Management Essay

Problems Faced By Using Risk Management Essay

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This paper mainly issues the problems faced to construct four stadiums in Chile less than a year and the preventions made to reduce the problems using risk management strategies. First it is about how to manage the risks and what are the rules we should follow to manage it and how to identify the risks and what type of risks occurred during construction of this stadium. We also discuss about what are the inputs taken to manage the risks and what techniques we have implemented to identify and manage it. Also we have to prioritize the risks occurred and we should also check the risks occurred whether to avoid, reduce, accept. I have also issued about the tips I have taken to manage the risks using risk management policies in this paper. I have also discussed about how I had reduce the risks and what methods I had used throughout and how did I analyze it. I had also developed a detailed plan of risks and responses to avoid and manage it to make the project success.

Risk management is nothing but identifying the risks, assessing the risk identity, minimizing the risks coordinates with it. The risks will occur due to uncertainties, loss and time. The risks come under here should be managed by taking preventive steps advance by analyzing the risks before occur to make project success. Here the risks are managed by following some procedure and taking some steps before the risk appears. Some steps are we should take care of medical treatment with good equipment for the players who are injured, we should also provide a safe environment in ways like environmental conditions, equipment and facilities and pre participation screening, emergency plans and documentation. In surveying about the building of Chile soccer stadium at that t...

... middle of paper ...

...plementing monitoring, communication and reporting tools in project supports online communication, management tools and develops the virtual communication which are offsite of the project.
Here the barriers mostly are due to lack of sufficient time, improper schedule and lack of good communication, due to not prioritizing the risks, insufficient resources, not effective proposal and document strategies due to not good leadership, inadequate planning, and lack of skilled persons. In my project the hurdles are time they give nine months’ time for completion to overcome that we should have good plan to identify risks and strategies in risk management plan. The other one is no good communication we should maintain it and encourage everyone to make the project success. Due to having good risk management plan and risk avoiding strategies we can overcome all those barriers.

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