Students Name Fredrick Abimbola Petersprofessors Name ✓ Solved

College students often find long lists of majors and courses when they register for their first semester. With so many choices, students can quickly become overwhelmed and confused about how to move forward. Advisors know that students are most likely to be successful when creating a plan for each semester with their academic and career goals in mind. Choosing a pathway at PGCC will help students to move through their programs of study successfully. Thesis Statement: I have identified three pathways in particular; business, industry and entrepreneurship, personal and professional development, and public safety and law, based on my interests and goals as a student at PGCC.

Business, Industry, and Entrepreneurship

My first pathway of interest is Business, Industry, and Entrepreneurship. Careers in a business-related field are often in high demand. This pathway entails enhancing individual interests in business activities, creating industries; both manufacturing and service, and coming up with innovations to solve existing needs and foreseeable problems. This pathway leads to jobs in accounting, procurement, finance, marketing, and service industry careers such as carpentry and mechanics, according to PGCC's website. I chose it because it illustrates the global financial systems.

I find accounting to be the most exciting major with a course specialization in business administration.

Personal and Professional Development

Personal and Professional Development is a pathway that offers a significant range of benefits to individuals and their career paths. With this pathway, one can efficiently work towards their personal goals. Careers such as swimming, driving, and fitness instructing can be obtained from this pathway. I choose this pathway because it helps boost individual skills. I find aquatics to be the most exciting area and water aerobics to be my most interesting course.

Public Safety and Law

Another exciting pathway to venture into is Public Safety and Law. This pathway entails maintaining order in society and ensuring a safe communal environment. Job options in this pathway include homeland security, private security, and forensic science. I find this pathway interesting because it helps society attain justice. I am interested in majoring in criminal justice, and forensic science is my favorite course.

Risk Management Process Overview

The risk management process is essential for identifying, assessing, and mitigating risks in any project. It begins with risk identification, where potential risks are listed and analyzed for their likelihood and impact. Once risks have been identified, they must be assessed to determine the level of risk and how they can be managed effectively. Throughout the project lifecycle, continuous monitoring and assessment of risks are critical to ensure success.

Identifying Potential Risks

1. Equipment Failure: This could lead to delays in project timelines.

2. Budget Overruns: Lack of funding can jeopardize project success.

3. Regulatory Compliance Issues: Failure to adhere to regulations may result in fines or project halt.

4. Talent Unavailability: Not having the right skills available may affect project execution.

5. Stakeholder Resistance: Opposing interests can hinder project progress.

Risk Assessment Form

The Risk Assessment Form identifies each risk, determining its likelihood, impact, and detection difficulty.

  • 1. Equipment Failure - Likelihood: Occasional, Impact: Critical, Detection Difficulty: Difficult

  • 2. Budget Overruns - Likelihood: Likely, Impact: Moderate, Detection Difficulty: Moderately Easy

  • 3. Regulatory Compliance Issues - Likelihood: Unlikely, Impact: Catastrophic, Detection Difficulty: Difficult

  • 4. Talent Unavailability - Likelihood: Seldom, Impact: Moderate, Detection Difficulty: Easy

  • 5. Stakeholder Resistance - Likelihood: Occasional, Impact: Critical, Detection Difficulty: Moderately Difficult

Risk Response Matrix

The Risk Response Matrix outlines strategies to address each identified risk.

  • 1. Equipment Failure - Response Strategy: Mitigate by selecting reliable vendors; Contingency Plan: Order replacement equipment; Trigger: Equipment malfunction; Responsible: Project Manager.

  • 2. Budget Overruns - Response Strategy: Monitor expenditures; Contingency Plan: Allocate additional funding; Trigger: Exceeding budget limits; Responsible: Financial Officer.

  • 3. Regulatory Compliance Issues - Response Strategy: Regular compliance audits; Contingency Plan: Consult legal experts; Trigger: New regulatory announcements; Responsible: Compliance Officer.

  • 4. Talent Unavailability - Response Strategy: Workforce planning and training; Contingency Plan: Hire temporary staff; Trigger: Unforeseen personnel changes; Responsible: HR Manager.

  • 5. Stakeholder Resistance - Response Strategy: Engage stakeholders early; Contingency Plan: Revise project plans; Trigger: Stakeholder feedback; Responsible: Project Lead.

Conclusion

The successful management of risks is pivotal for the delivery of projects. Identifying potential risks, assessing their implications, and creating a robust risk response strategy can significantly enhance a project's chances of success. Engaging stakeholders and ensuring adherence to regulations will further solidify the project's foundation, enabling it to adapt effectively to unforeseen circumstances.

References

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