Research Assignment. 1. Each student is required to select a topic of personal interest and prepare a written report on the subject. The subject is one of your choosing but MUST be in the area of Risk...

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Research Assignment.
1. Each student is required to select a topic of personal interest and prepare a written report on the subject. The subject is one of your choosing but MUST be in the area of Risk Management that influences the outcomes concerning Costing / Estimating / Financing of projects.
Evaluate the perspective of the major parties involved, usually these would be:a. The ownerb. The designerc. The builder
2. The format of the report you can take as similar to a journal publication. The body of the report (subparagraphs “a” through “g” below) shall be a minimum of 2000 words (double spaced, 12 point Times New Roman font, 1 inch margins all around) not including figures, tables and graphics. The report shall include the following:
a) Definition of the report’s objective.b) Thorough literature review of the subject.c) Primary and concrete issues addressed in the report.d) Advantages and disadvantages to different parties:a. The ownerb. The designerc. The builder
e) Zoom in ona. Potential Contractual issuesb. Cost implications
f) Conclusions and recommendations supported by facts found in the study.g) Reference list, 10 sources minimum with at least one book, and three peer-reviewed journal articles.
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A Quick Guide to PublicationsPublication criteriaArticles should take the form of a Note or Project:Notes should record significant advances in engineering knowledge of relevance to the New Zealand engineering profession.Projects should record significant advances in engineering practice in the context of New Zealand projects or developments.The key criteria for deciding whether your paper is suitable are:Does your paper represent an advance – that is, does it contain information not available elsewhere?Is it relevant to the New Zealand engineering profession – that is, is it potentially useful to a section of New Zealand’s professional engineers?Writing and formattingYou can assume that your reader is a fellow engineering professional sharing much of your engineering knowledge.Papers should follow the academic conventions regarding writing, formatting, referencing etc.How to get startedWriting an article is usually NOT the first step. First you need to decide on your publishing objectives. Do you want to share interesting results with your peers? And who do you want to reach – researchers or consultants?Answer these questions and you will clarify your approach and the content of your paper.Writing a technical paper is not so different from writing an engineering report:Outline what you want your paper to say.Make a rough draft by dumping all relevant information into a document.Define in your first paragraph your paper’s core message – its rationale and objective.Explain your points, including concrete examples if possible.End with a discussion of implications, recommendations to your readers, or a call to action, depending on the nature of the topic.From here it’s just a matter of refining the content and formatting your paper.
Answered Same DayDec 27, 2021

Answer To: Research Assignment. 1. Each student is required to select a topic of personal interest and prepare...

David answered on Dec 27 2021
119 Votes
Running Head: RISK MANAGEMENT 1
Assignment Title
Student Name
Course Name
Instructor Name
Date
RISK MANAGEMENT 2
Report Objective
The objective of the report is to analyze the supply chain risk management that has a
direct impact over the costing and estimating of a project. Supply chain management has become
an integral part of every business and project irrespective of the industry ranging from healthcare
to space science industry. Supply chain risk ma
nagement plan an integral part in the engineering
business.
Literature Review On Subject
Supply chain risk management is essential and is need of the hour to avoid over costing
and overburden on the financial requirement of the project. The supply chain is critical as it can
increase the costs in various ways like delay in project completion, receiving poor quality of the
product and not receiving the product due to various issues. It is one of the major risks that
challenge the entire projects (Qazi, Quigley, & Dickson, 2015). Supply chain risk has the
capabilities that can turn a profitable project into loss project that will create more trouble for
various businesses in long-run.
Supply chain management challenges the performance of the project and the efficiency of
the project in accomplishing their project as per the predetermined work break-down structure.
Ineffectiveness in the supply chain will result in receiving poor quality of the product, and it will
result in a poor-quality outcome. Another major problem faced by the projects is inefficient
inventory management. There is a situation where the project faces out of stock situation that
results in more delay, and there is a situation in overstock that results in more cost tied up in the
project inventory that reduces the overall costs associated with the project.
Inventory management strategies will reduce the overall challenges that are associated
with the supply chain to some extent, and it will reduce the financial burden that is associated
RISK MANAGEMENT 3
with the supply chain risks (Ghadge, Dani, & Kalawsky, 2012). Supply chain risk has more
impact on the operations of the business. For instance, if the company or project is not receiving
the required supplies on time, it will result in delaying the entire manufacturing process that will
result in the overall manufacturing process, and it will result in losing the customers and brand
value besides the financial loss for the company.
There are some critical risks involved within the supply chain risk management that are
organizational risks, network risks, and environmental risks. Organizational risks are associated
with the internal ability of the management in forming an effective strategy to manage the
inventory and establishing contact with the suppliers and developing best contingency plans to
manage the difficult situation. Network risks are associated with the interaction or contact with
the company and the suppliers. There are more default risks associated when dealing with the
supply chain network (Ho, Zheng, Yildiz, & Talluri, 2015).
Any change in the demand and supply in the commodities prices and availability of a
product will have a direct impact on the supply of the product by the supplier to the company. It
creates more complexity to the entire supply chain. Environmental risk another major factor that
causes supply chain risk like a natural catastrophe, political issue, a regulatory issue, etc. causes
more impact on the supply of the material. There are proactive risk management strategy and
reactive risk mitigation strategy in managing the supply chain management risks.
Most of the project managers fail to understand the various risks that are associated with
the supply chain and paying less attention to them that is resulting in poor cost estimation and
risk management strategies (SCRLC, 2011). Evaluation and risk analysis is the main causes for
poor risk management strategies for the project. A project manager should give more importance
to the risk associated with the supply chain to handle various risks so that there will not be more
RISK MANAGEMENT 4
trouble to the cost estimation or budget related to issues. In this current competitive situation,
there is a requirement to make proactive risk mitigation strategy to reduce the supply chain risk
as it will cost huge to the company.
Supply chain causes more inefficiencies to the performance of the project. There are
more gaps in every supply chain that is being ignored by many project managers that is causing
more trouble when there is any disruption in the supply (Ho, Zheng, Yildiz, & Talluri, 2015).
There is a poor understanding of the...
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