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Woody 200 Author Comments

In: Business and Management

Submitted By jtimba
Words 344
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Comments on the Case Study

The incidents described in the Woody 2010 case study are typical of the types of things that happen in real-life projects. They are a reflection of peoples' attitudes and the way they do things. Perhaps they do not all happen on the same project. Yet the reality is that if project sponsors do not start out with an understanding of project management and its processes, the probability of these kinds of happenings are quite high! One of the best ways of learning is from mistakes — preferably from the mistakes of other people.

The focus of the case study centers on construction. However, the project has served to bring to light many of Woody's management shortcomings that are not untypical of management attitudes in other industries. In hindsight it is easy to spot the problems, but the issue is how can you head them off at the start of a new project?

The answer is probably to be found in the prudent application and use of project risk management. But for successful risk management, it is necessary to understand the concepts, and obtain the active participation of the key players in the process and who must buy in to the process's findings.

Projects take place in a very uncertain world, and the purpose of project management is to achieve a successful outcome and all that this implies. A key part of successful project management is to apply project risk management. You do this with a view to taking advantage of opportunities and heading off potential risk events that negatively impact the project's outcomes.

Project opportunities and risks can impact all areas of the project management body of knowledge. The following questions are designed to help you identify project opportunities and risks in this case study, and are arranged by project management knowledge areas. You will not necessarily find all the answers written into…...

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