Week 8 Project Management Plan
Sources of Risk for Chronic Conditions in the State of Florida
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Introduction
A chronic condition is a disease that endures along period.
Chronic illness is one of the health issues which has been prevalent in the United States for an extended period.
Various sources of risk are associated with chronic conditions that directly impact the success of this project.
These sources of risks fall under factors such as technical, managerial, commercial, and external risk factors.
Introduction
A chronic condition is a disease that endures along period. Chronic illness is one of the health issues which has been prevalent in the United States for an extended period. However, multiple sources of risk are associated with chronic conditions that directly impact the success of this project. These sources of risks fall under factors such as technical, managerial, commercial, and external risk factors.
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Sources of Technical Risk Factors
Technical risk factors in this project are associated with factors such as:
Scope definition in the study
Research design
Research of information (Cachada et al., 2019)
Methods used to conduct the research study
Sources of Technical risk factors
Technical risk factors in this project arise from issues or activities associated with the scope definition, research design, research of information, and methods used to conduct the research study. In this case, conduction research to know more about chronic conditions in the State of Florida will involve in-depth scope definition to understand more the status of chronic illness in the State of Florida (Cachada et al., 2019)
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Sources of Managerial Risk Factors
Managerial risk factors in this project arise from management decisions that affect the flow of performing operations of the activity (Cachada et al., 2019).
Sources of managerial risks affecting the success of this project include the following factors:
Cost factors
Legal factors
Legal factors
Sources of managerial risk factors
Managerial risk factors in this project arise from management decisions that affect the flow of performing operations of the activity. The primary source of such risk includes cost factors, which escalates the cost of conducting a project due to the inability to make proper cost estimations.
Schedule factors is another source of risk that affect how activities of the project should be conducted (Cachada et al., 2019). In the research study, the schedule of performing on the status of chronic illness in the State of Florida will be timed to collect enough information to help in making proper decisions.
Legal risk factors is another set of sources of managerial risks that are likely to affect the effectiveness of this research. These factors arise from regulatory obligations such as contract risks that approve the use of chronic condition data to perform a research project. This set of risks will affect the ability to used chronic conditions data in Florida to design the research project.
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Commercial Risk Sources
In this research, the key sources of risk factors include:
Implementation of management strategies
Strategic Alliance and Corporate Acquisition
Financing
Relationship with Largest Shareholder.
Commercial Risk Sources
These are risks factor that arise from financial activities that are used to research chronic diseases in the state of Florida. In this research, the principal sources of risk factors include implementation of management strategies, Strategic Alliance and Corporate Acquisition, financing, and Relationship with the Largest Shareholder (Cachada et al., 2019). Implementation of management strategies includes measures the management take concerning about financing the project of collecting reliable information about chronic conditions in Florida. Management strategies are the primary source of commercial risks that can affect the effectiveness of achieving the goals of this project.
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External Risk Sources
External risk factors are aspects that the management of a project does not have any authority over.
In this study, the following external risk factors are likely to affect the effectiveness of the research findings:
Vendor going bankrupt
Economic upheaval
Wars
Crime.
External Risk Sources
External risk factors are aspects that the management of a project does not have any authority over. In this study, these external factors will be key sources of risk that will affect the effectiveness of the research. Usually, external risk factors are difficult to deal with since the management of a project does not have control over them (Marcial & Graves, 2019). As well, the main external risk factors are likely to affect the effectiveness of the project include the following: vendor going bankrupt, economic upheaval, wars, and crime.
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Risk Identifying Tools
In the project, the following tools will be used:
Brainstorming
Documentation reviews
Information gathering tools
Expert judgment
Data analysis
Swot Analysis
Assumption analysis
Risk Data Quality Assessment
Root Cause Analysis
Risk Identifying Tools
Identification of risk in a research project requires appropriate tools or techniques that can help to identify any type or source of risk that a project is likely to face. In this research study, different tools will be used to define the types of risks that are likely to affect the effectiveness of the project (Marcial & Graves, 2019). In the project, the following tools will be used:
- Brainstorming
- Documentation reviews
- Information gathering tools
- Expert judgment
- Data analysis
- Swot Analysis
- Assumption analysis
- Risk Data Quality Assessment
- Root Cause Analysis
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Expert Analysis and Judgment
Expert analysis and judgment will involve consulting health professionals to know how the case of chronic diseases is spread all over the states of Florida.
Health professionals will be asked about the possible causes of such conditions in Florida (Marcial & Graves, 2019).
Expert judgment is an essential tool because it helps to collect reliable information to find possible ways of dealing with chronic disease conditions.
Expert Analysis and Judgment
In this research study, expert analysis and judgment will involve consulting health professionals to know how the case of chronic diseases is spread all over the states of Florida. In doing so, health professionals will be asked about the possible causes of such conditions in Florida. Expert judgment is an essential tool because it helps to collect reliable information to find possible ways of dealing with chronic disease conditions (Marcial & Graves, 2019).
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Brainstorming
This is another vital risk identification tool that can be used in this project to identify risks.
It involves making comparisons with other facilities or states that have experienced the same situation (Marcial & Graves, 2019).
Brainstorming a useful tool because it gives room for discussion to understand the actual situation as it is experienced when working on the project.
Brainstorming
This is also another vital risk identification tool that can be used in this project to identify risks that may arise when conducting this research project. It involves making comparisons with other facilities or states that have experienced the same situation to know whether the same case is happening when working on this project (Marcial & Graves, 2019). Brainstorming a useful tool because it gives room for discussion to understand the actual situation as it is experienced when working on the project.
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Risk Data Quality Assessment
This a vital risk identification tool that will help to find the precision of the data that must be analyzed in this project to complete the qualitative analysis of risks. It will help in the following ways:
Extent of the understanding of the risk
Data available
Quality and reliability of the data (Farmer et al., 2019).
Integrity of the data
Risk Data Quality Assessment
This a vital risk identification tool that will help to find the precision of the data that must be analyzed in this project to complete the qualitative analysis of risks. It will help in the following ways:
Extent of the understanding of the risk
Data available
Quality and reliability of the data
Integrity of the data
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SWOT Analysis
- SWOT Analysis tools an essential technique that can be used to analyze aspects of strength, weakness, opportunities, and threats that potential risks can bring in a project (Farmer et al., 2019).
- The tool is vital because of help in explaining opportunities that can be used to identify possible sources of uncertainty.
Swot Analysis
Swot Analysis tools an essential technique that can be used to analyze aspects of strength, weakness, opportunities, and threats that potential risks can bring in a project. This tool is vital because of help in explaining opportunities that can be used to identify possible sources of uncertainty (Farmer et al., 2019).
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Most Useful Risk Identification Tools
The following are most useful tools that will be used in this project:
Expert Analysis and Judgment
Brainstorming
Risk Data Quality Assessment
SWOT Analysis
Most useful risk identification tools
These are tools that can easily be used to identify potential sources of risks that might affect the effectiveness of project an thus will be used in this case study. They include:
- Expert Analysis and Judgment
- Brainstorming
- Risk Data Quality Assessment
- SWOT Analysis
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Ineffective tools
Ineffective tools in this project include the following:
Documentation reviews
Information gathering tools
Assumption analysis
Root Cause Analysis
Ineffective tools
Ineffective tools in this case are techniques that are not useful in this study because they used other approaches that are not necessary in this case. However, they can be used in other research studies. They include the following:
- Documentation reviews
- Information gathering tools
- Assumption analysis
- Root Cause Analysis
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References
Cachada, A., Dias, A. C., Reis, A. P., Ferreira da Silva, E., Pereira, R., Duarte, A. D. C., & Patinha, C. (2019). Multivariate Analysis for Assessing Sources, and Potential Risks of Polycyclic Aromatic Hydrocarbons in Lisbon Urban Soils. Minerals, 9(3), 139.
Farmer, R. F., Kosty, D. B., Seeley, J. R., Gau, J. M., & Klein, D. N. (2019). Family aggregation of substance use disorders: substance specific, nonspecific, and intrafamilial sources of risk. Journal of studies on alcohol and drugs, 80(4), 462-471.
Feng, B., Li, L., Xu, H., Wang, T., Wu, R., Chen, J., ... & Huang, W. (2019). PM2. 5-bound polycyclic aromatic hydrocarbons (PAHs) in Beijing: Seasonal variations, sources, and risk assessment. Journal of Environmental Sciences, 77, 11-19.
Marcial, E., & Graves, B. A. (2019). Implementation and evaluation of diabetes clinical practice guidelines in a primary care clinic serving a Hispanic community. Worldviews on Evidence‐Based Nursing, 16(2), 142-150.