You will prepare and submit a term paper on Scope Risk. Your paper should be a minimum of 500 words in length.

You will prepare and submit a term paper on Scope Risk. Your paper should be a minimum of 500 words in length. Scope Risk Overview The term ‘scope risk’ generally refers to those particular goals that are not easily achievable but are highly valued. The best way to minimize scope risk is to manage every task with proper planning. Proper planning refers to clear definition of project objective and managing every change and risk associated with the project (Digital Publications LLC, 2008).

Question 1

According to the article published by Project Management Institute,’ trends in scope’ is fundamentally described as ongoing global changes in the organizations. In relation to the article, the basic trends that assist the customer service growth are making a shift in the global market and moving towards innovation. The move towards innovation is necessary as it can be stated that innovation is more important than acquiring the name of best company in the world. The other trend i.e. making shift in global market is necessary as it is regarded as one of the fundamental needs of the organizations in attracting huge customers along with increasing sales (Project Management Institute, 2012).

Question 2

The successful completion of a project requires the involvement of clients and their conduct of activities efficiently. In this case, if there lays the involvement of several members, it can create hindrance in the success of the project. In order to complete projects in a timely fashion by balancing the needs, initially a proper planning of the project would be made along with determining the actual number of members to be included in the project team. Then, proper allocation of tasks relating to the project must be provided to the actual number of members for the purpose of fulfilling the need to freeze project scope in a timely fashion (Global Knowledge Training LLC, 2013).

Question 3

In the context of slower economic growth, one of the viable and valid trends that would emerge is the changing economic conditions of the global market. The fact can be supported with the happening of global recessions in previous few years. Similarly, in the background of shifting global markets, a viable and a valid trend of improving the sales target for future rather than focusing upon developing the existing position in the business market would emerge (Project Management Institute, 2012).

Critique

Based on the above discussion, it can be affirmed that a few of the factors such as innovation, shift in global market and economic growth are the elements that bring considerable changes in the operations of business organizations and identification of various opportunities. As per my understanding, it can be affirmed that scope management can be explained as a method through which the required tasks are assessed and utilized properly for successful completion of the project. Hence, in this scenario, it can be argued that certain critical factors such as slower economic growth, innovations and shift in global market trends are much vital to consider. This can be owing to the reason that these aspects provide information about the ongoing trends pertaining in the business markets and also the ways of performing business to earn maximum profit.

References

Digital Publications LLC. (2008). Scope and risk management. Retrieved from http://www.agilespec.com/Key_Practices/Scope_and_risk_management.htm

Global Knowledge Training LLC. (2013). Emerging trends in project management. Expert Reference Series of White Papers, 1-6.

Project Management Institute. (2012). PMI’S pulse of the profession. Driving Success in Challenging Times, 1-9.