CASE STUDY: The Back to School Crunch at Global Green Books Publishing Global Green Books Publishing is a successful printing and publishing company. Just two years old, it has taken on a great new customer, a local college that needs customized Books. To deal with this new customer, they have hired several new part time employees to help them with their publishing business, some of them students at the college with flexible hours. As the new school year drew closer, the orders started coming in. They had been told how many different printing jobs the college would need, but they werent all arriving at once, and orders were quite unpredictable in arriving from the professors at the college. Some professors needed rush orders for their classes. When Global Green Books finally got the orders, some of these jobs were much larger than they had thought they would be. Printing these orders turned out to be very challenging. Not all of the new student hires were trained for all of the printing and binding equipment used to print and assemble the books. Some of them often made mistakes; some workers called off from work due to other demands; and there were often not enough people available to get all the work done before deadlines. Quality was a serious issue, as they had to provide quality textsif there were quality problems with the printed product, they would have to spend time and money fixing defects in their products. Deliveries started slipping past their requested dates and times. Global Green Books was unable to deliver Books to their customers on schedule. The local university was unhappy as their Book products reached campus late for use by professors and students. In some cases, the books were a week or two late. Samantha had been hired as a project manager. In her new role as project manager, one of the processes she was trying to institute was risk management. She started looking at what was happening in the business, talking about it with the owners and employees, and heard about the colleges unhappiness. As she did this, she started identifying risks and potential risks. As she went along, she started doing more proactive risk analysis and risk response planning, and as she did surprises and issues were reduced. By talking with stakeholders and addressing their concerns, communication with stakeholders was also enhanced. Source: Project Management Institute (2017) QUESTION 1 (40 Marks) 1.1 What are the ten possible risks with their associated impacts that Samantha could have identified for Global Green Books Publishing? (20 marks) 1.2 If you were appointed as project manager at Global Green Books Publishing, graphically describe how you would perform qualitative risk assessment on any five of the risks identified above. (20 marks) 2 ID SECTION B [60 MARKS] Answer ANY THREE (3) questions in this section QUESTION 2 (20 Marks) Critically discuss implementation of the 10 golden rules for successfully managing risk. QUESTION 3 (20 Marks) Risk assessment is the identification, quantification and evaluation of the probability of the occurrence of risk events and the impact of the risk events on a project. Risk assessment addresses issues such as: What can go wrong? How likely is this to happen? If it does happen, what are the consequences? In essence, risk assessment is both proactive and reactive measures to project risk management. Discuss this statement with reference to the risk management plan process and cite examples to demonstrate your understanding of the theory. QUESTION 4 (20 Marks) Despite theory that holds risk and opportunities to be equally important, empirical studies show a stronger focus on mitigating risks than exploiting opportunities. Using appropriate examples, clearly illustrate how a project manager and his/her team will ensure that in their risk response planning, provision is made for both mitigating risks and exploiting opportunities. QUESTION 5 (20 Marks) 5.1 Discuss what you think a project manager would consider as benefits of risk management. (10 marks) 5.2 Discuss the major topics that any risk management plan should address. (10 marks)