Discuss on Risk Management

Explain concisely in your own words what you believe are the key features of an EP approach, comparing these features with the IRM Risk Management Standard. Focus your explanation on the Concept Stage of the project lifecycle. Very briefly explain what the key features of the EP approach and the main differences with the IRM Risk Management Standard. In this section, it is important that you show your understanding of the four frameworks and how they are interrelated. In your narrative explain how you would approach a new project using the four frameworks. Feel free to use examples to demonstrate your understanding of the subject. Your answer should be based on the material discussed in the lectures and presented in the recommended reading.

Part 2 25% of the total marks 1000 words maximum

For the structure (all uncertainty) phase of the EP approach, in the Concept strategy progress stage of a project’s lifecycle, explain concisely in your own words what you believe are the key features of an EP approach, briefly comparing these features with the IRM Risk Management standard. Your discussion should demonstrate your ability to understand a particular area of the course material in depth, based on selective reading, critical analysis and the case study exercises. Use examples to illustrate your discussion if you wish but concentrate on concepts and principles.

Part 3 25% of the total marks 1000 words maximum

Select a different phase of the EP approach, now in the execution and delivery stage of the project lifecycle. Apply the SPP to a project of your choice. Discuss the challenges and benefits of the SPP process. Draw on published literature to support your arguments. Explain why you have chosen this phase. To show your understanding of this phase of the SPP compare this phase to an analogous phase in the IRM Risk Management Standard.