Global Green Books Project Management Risk

Risk at Global Green Books Publishing Mini Case 1

Key Risks

Key risks for Global Green Books included not getting ebooks to the new college customer on time, operating without any project management tools—no project software or techniques for estimation, and operating without a budget; and operating without communicating to stakeholders, and without a process of managing risk. As a result of operating in this manner, these risks soon turned into real problems. The company was unable to control costs, unable to provide quality texts, unable to deliver on time, and unable to leverage resources effectively. The company stumbled just as it took on a new, large contract with the college, which to fulfill would require discipline, coordination, organization, oversight, and risk management. Global Green had enjoyed success in its first two year by essentially flying by the seat of its pants—but now it had big customers with big needs and big expectations. Global Green could not risk operating in such a loose manner now.

Cause of Each Risk

The cause of each risk could be found in the fact that the company did not manage operations and risk adequately. However, a number of factors can contribute to the risks associated with product delivery, quality, and resource utilization, which affected Global Green Books. In some cases, these risks may be due to organizational issues, such as inadequate planning or communication. In other cases, they may be due to external factors, such as supplier delays or changes in customer demand. In the case of Global Green Books, it is at least clear from the mini case notes that the company itself is to blame for these risks becoming a problem. For instance, it definitely did not communicate well with stakeholders—which can mean everyone from customers to employees to suppliers. This lack of communication is partly responsible for the late delivery, poor quality and poor resource utilization. Had the company communicated goals, timelines, budgets, and presentation more effectively, stakeholders would have been on the same page.

Additionally, the company did not use project management tools like estimation techniques or project software. After all, project management is the process of planning, executing, and monitoring a project to ensure its successful completion (Larsson & Larsson, 2020). In order to manage risk effectively, project managers need to employ a variety of tools and techniques. Estimation techniques help to identify potential risks and quantify their likely impact. Project software can be used to track progress and identify potential problems early on. By using these tools, project managers can effectively manage risk and ensure the successful completion of their projects (Larson & Gray, 2017).

Probability of Occurrence and Its Potential Impact

The probability of occurrence and its potential impact for each risk is as follows: the probability of delay is high and its impact very serious. The probability of poor quality is high and its impact also very serious. Finally, the probability of poor resource utilization is high, too, and its impact is equally very serious. The reason each has a high probability of occurrence is simple: the company is not managing risk, not communicating to stakeholders, and not using project management software so that timetables are clear, goals set, and everyone on the same page. The impact is serious because these risks becoming realities means that the company will upset customers, lose contracts, and go out of business.

Recommended Response to Each Risk

There are a number of ways to manage risk in projects. One common approach is to use project management software to create a risk register. This register can be used to track and monitor risks throughout the project lifecycle. Another approach is to create a project risk management plan. This plan should identify the risks associated with the project, as well as the steps that will be taken to mitigate those risks. Additionally, it is important to ensure that adequate resources are allocated to the project in order to minimize the risk of delivery delay or quality issues. Finally, effective communication and coordination between all project stakeholders can help to reduce the likelihood of errors and delays. By taking these steps, it is possible to effectively manage the risk associated with projects and improve the chances of successful delivery.