StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Establishing the Main Risks of Serious Problem Projects - Dissertation Example

Cite this document
Summary
The author of the paper "Establishing the Main Risks of Serious Problem Projects" will begin with the statement that the cyclic causal model is greatly reliable when dealing with serious problem projects (SSPs). The model has been successfully applied in respect of various SSPs…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER96.8% of users find it useful
Establishing the Main Risks of Serious Problem Projects
Read Text Preview

Extract of sample "Establishing the Main Risks of Serious Problem Projects"

Download file to see previous pages

We analyzed the data obtained from the interviews statistically and noted that the main limitations of the cyclic causal model relate to the characteristic differences between the derivative and accelerating events when dealing with complex situations and its inability to provide a concrete solution to solving problems related to the derivative and accelerating events.

In view of the interventions of the building code and regulations, it is possible to cope with critical risk areas for various structural needs. Using the causal models of risk management, professional building and construction bodies have formulated several interventions for the industry for risk elimination and management. The seriousness of the risks involved in the building and construction industry border heavy financial losses for project clients and puts the safety of people frequenting the structure as well as the members of the general public using the structure at risk. The nature and application of the construction projects and their unique demands in terms of professional regulation raise questions relating to technical engineering considerations or ordinary project management. 

One of the risk management interventions that have been extensively applied in various industries is the cyclic causal model. The cyclic causal model that targets the identification of risks and their elimination long before the commencement of the project seems to have a number of inherent limitations.  Explanations to the limitations of the cyclic causal model in serious problem projects can form the basis of the phenomenon where the best professionally proposed codes still prove insufficient (Grotzer and Perkins 2000, p5). The cyclic causal model has several advantages, especially when applied to serious problem projects. However, its limitations in the same respect remain a mystery that needs to be solved.

Our study was dedicated to establishing the limitations of the cyclic causal model. A case study approach was used in the investigation, the Vancouver Building Project being the case in point. The Vancouver Building project is a project that is inexistence but that failed due to a myriad of reasons. The study specifically engaged the failed Vancouver Building Project as a case study to establish inherent limitations of the cyclic causal model as they may generally apply to other projects. During the study, we engaged a total of 8 respondents, all stakeholders of the Vancouver Building Project, in a scheduled face-to-face interview.

1.1 Main Objective
i) To establish possible inherent failures of the cyclic causal model in the failed Vancouver Building Project
1.2 Research Questions 
Does the existing Vancouver Building Project qualify as a severe problem project?
What are some of the limitations of the cyclic causal model in respect of the Vancouver building project?

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“A Quality Study of the main Limitations of the Cyclic Casual Model in Dissertation”, n.d.)
A Quality Study of the main Limitations of the Cyclic Casual Model in Dissertation. Retrieved from https://studentshare.org/management/1454367-a-qualitative-study-of-the-main-limitations-of-the
(A Quality Study of the Main Limitations of the Cyclic Casual Model in Dissertation)
A Quality Study of the Main Limitations of the Cyclic Casual Model in Dissertation. https://studentshare.org/management/1454367-a-qualitative-study-of-the-main-limitations-of-the.
“A Quality Study of the Main Limitations of the Cyclic Casual Model in Dissertation”, n.d. https://studentshare.org/management/1454367-a-qualitative-study-of-the-main-limitations-of-the.
  • Cited: 0 times

CHECK THESE SAMPLES OF Establishing the Main Risks of Serious Problem Projects

Risk And Project Management

There are also the real risks of physical injury due to fortuitous events that, despite all precautions, occur unexpectedly.... if The risks of doing business There are many types of projects that have different objectives; whether they are philanthropic or for profit, there is certainly a cost factor involved that places a constraint on the manner the business is run.... All activities contain an element of uncertainty, particularly projects which are time limited and undertaken to arrive at a single goal....
20 Pages (5000 words) Literature review

Risk management

the main principles as set out in Risk Management Standard AS/NZS ISO 31000 are briefly highlighted below.... Accountability to the human society and every vital stakeholder in the projects under the organization ensures that the organization development is in tandem with the aspirations of the stakeholders and to whom accountability is expected.... This is so considering that many threats and risks that a business encounters come unexpectedly and may bring massive losses to the organization....
10 Pages (2500 words) Assignment

Management Managerial Process

Some of the well-known kinds of risk can include: Time Risk This kind of risks is very common in projects.... Cost Risk The majority of projects has fixed budget and the project team needs to complete a project within this budget limitation.... Legal Risk International projects involve the execution of project tasks in various countries so it can require compliance with laws and regulations of these countries.... Technological Risks Some projects involve the implementation of latest tools and technologies....
6 Pages (1500 words) Essay

Portfolio Theory and Its Implication to Investors in the Market

As far as this discussion is concerned, it should be noted that the main fundamental... In order to spread risks, most investors diversify by investing in more than one type of security or portfolio.... This is done relative to the level of portfolio risks meaning that a minimum risk levels correspondents to an equivalent expected return level.... Portfolio theory supports asset diversification as a strategy to hedge against any possible market risks that are unique to particular company....
24 Pages (6000 words) Essay

Methods of Risk Assessment and Leadership and Team Work in Projects

This literature review discusses approaches pertaining to risk assessments in projects.... Numerous scholars have examined various methods of assessing risks in projects.... projects require constant monitoring in their implementation period.... Ammar, Kayis, and Amornsawadwatana (2012) state that the risk assessments approach should involve analyzing the experiences of successful projects and engaging reliable professionals and analysts in the field....
8 Pages (2000 words) Literature review

The Positional Risks in ACME Development Corporation ADC Project

This case study deals with the positional risks in ACME Development Corporation (ADC) project.... The author of this work describes the risks and the response to those risks for neutralizing them in the project development.... Our aim is to identify the positional risks and the response to those risks for neutralizing them.... So according to this argument, we will use risk management plans to tackle all risks that are associated with ACME Development Corporation (ADC) project....
14 Pages (3500 words) Case Study

A Project to Develop a Strategy to Reduce Casualties in Accidental Dwelling Fires

the main purpose of this Project Initiation Document is to provide the requisite foundation at the beginning of the project.... This report "A Project to Develop a Strategy to Reduce Casualties in Accidental Dwelling Fires" discusses the risk management plan that serves the purpose of identifying the risks that can be defined at the project life cycle stage, evaluates the risks, and outlines possible mitigation actions.... This shall be followed by a collection of the listed project risks and compiling them to a single list....
8 Pages (2000 words) Report

Dee Why CBD Project Risk Management

There are high risks involved in construction works evidenced by the fact that most projects end up not meeting their deadlines, project costs, and required standards.... angerous Manual Tasks:Any construction projects entail manual tasks and site workers risk injuring themselves with those manual tools and tasks.... It is essential, therefore, that a risk assessment be carried out for any construction project way before the execution of that project so that such risks are clearly understood and mechanisms of evasion established....
12 Pages (3000 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us