(Mt) – CMPT 302 MVSU Risk Management Breakdown Structure Paper

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Attached.OUTLINE FOR PROJECT RISK MANAGEMENT OF SIEMENS GAMESA’SEXPANSION INTO CHINAThe paper entails the following sections:•Introduction❖ Siemens Gamesa Renewable Energy is a Spanish engineering company based in Zamudio,Biscay. The company is a manufacturer of wind turbines.❖ It offers onshore as well as offshore services to both domestic and international clients(“About Us,” n.d.).❖ Siemens Gamesa’s projects, therefore, constitute the supply and installation of windturbines for the production of wind energy, which is renewable form of energy.•Objectives and Goals❖ Siemens Gamesa should identify and analyze different risks related to its plans to expandto China. The organization will identify risks in advance and take necessary measures toprevent❖ Harmful risks are part of Siemen’s projects of providing wind power solutions. The riskscan impact productivity as well as the profitability of the provided solutions. SiemensGamesa will❖ Another objective of effectively managing the identified risks is to ensure efficientresource utilization.❖ Optimal resource utilization results in enhanced productivity and improved profits.❖ Effective risk management will aim at facilitating better communication among theproject stakeholders.•Tools and Techniques❖ To start the brainstorming process, the project team should evaluate the threats that couldaffect the supply of wind power in China.❖ This process involves a review of an organization’s historical❖ This method examines the essence of an issue.❖ It is a systematic process for identifying the fundamental threats to a project.❖ Siemens Gamesa would use root cause after an issue has already•Organizational roles and responsibilities for effective risk managementThe project manager is responsible for managing all risks in the project, which is the groundprinciple. Based on this principle, Siemens must determine and name the risk owner (who maynotbe the project manager) in the risk register. The risk owner will be responsible for monitoring therisk trigger. The risk owner may also be the individual who can effectively drive the strategiesfor mitigating the risks. The risk owner will also be in charge of timely reporting of anydeviations in•Information sources for risk identification❖ The project team can use both primary and secondary sources of information to identifythe risk related to supplying wind power in China.❖ Siemens can collect data on risks through surveys or questions.❖ For instance, the project team can administer surveys in the Chinese renewable energymarket to determine consumer patterns.❖ The project team can also conduct a one-on-one interview with stakeholders to determineand assess risks as well as detailed information regarding the risks.❖ The company can also use secondary information sources, such as the company’s previousprojects in foreign countries, to gain insight into potential threats or•Risk management documentation for the projectRisk Register❖ The risk register will act as a tool for Siemens to document its risks. Siemens can use arisk register to track the identified risks regarding supplying wind power to china.❖ The company can use a simple spreadsheet or a more dynamic project mana…

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