Reference no: EM131970978 , Length: word count:3000

Managing Projects and programs Task -

Based upon the above rationale and wider reading, conduct a literature review that critically evaluates a set of the most important key risks that might emerge from key and current macro-environmental dynamics and uncertainty (such as Brexit,industry4.0,or any other environmental dynamics) that arguably will impact P3M the most in the future?

Within this critique, examine the impact of the dynamics on your organisation or a project organisations that you are familiar with?

Also, please use relevant examples to support, enrich and justify your answer.

A suggested potential answer

The rationale by John P. Kotter referred to in the CW2 task in the module handbook, outlines just one context for an answer around the recent UK proposed exit from the European Union i.e. 'Brexit'.

Brexit is therefore an example of a 'macro-environmental dynamic of uncertainty that could be used as a context for your answer. For example, ask yourself, how might Brexit or any other macro-environmental dynamic, impact and change P3M now and in the future and emerge key sets of risk areas?

In this example, 'Brexit equals change' around perhaps political and economic drivers. Other macro-environmental dynamics will emerge similar relevant drivers too. This change could be incremental or even perhaps in some cases transformational for many P3 management environments, organisations and project managers.

Therefore any change will provide certain levels of probability of risk impacts upon P3M processes and approaches. Due to these risk probabilities, P3M may have to change to address these drivers and ensure that projects and project managers can be resilient in the future to still meet cost and budgetary requirements, quality issues and deliver timely projects for their customers / clients in the future - (i.e. the CQT or Iron Triangle). So what are these probable key risk areas and impacts?

Mention 3 or 4 risks and talk about them

Project futures is the learning outcome for this course work. Project futures primarily concerns taking a strategic or sustainable view of P3 management to ensure change is addressed resulting from key macro environmental drivers or changes., For example and most notably the STEEPLE factors that through continuous change of these factors result in risks and impacts for any project environments, organisations and their key stakeholders?

Consequently, the identification of key strategic drivers of change and associated risks is strategically essential for the sustainability of the projects concerned, now and in the future. Therefore 'Project Futures' is in essence the strategic vision and strategic approach underpinning P3 management and provides project managers and project organisations the ability to pinpoint these risks to identify key opportunities and threats (O&T) for future P3 management and consequently how these risks create project and organisational strengths and weaknesses (S&W) internally.

Note - It has to be done on SPSS with (Pearson correlation) to determine its significance and relationship between the variables of the hypothesis.