(Mt) – CPMT302 MVSU Project Management Risk Analysis of Siemens Gamesa’s Expansion

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Attached.OUTLINE FOR PROJECT RISK MANAGEMENT OF SIEMENS GAMESA’SEXPANSION INTO CHINAThe paper entails the following:•Brief Introduction❖ Siemens Gamesa’s plan of supplying wind solutions in China faces significant risks.❖ This qualitative and quantitative risk analysis entails the probability and impact of theindividual risks to the company’s proposed expansion.❖ Responses are then formulated to mitigate the risks if they occur.❖ During the project’s lifespan, however, continuous monitoring is necessary.❖ As such, this analysis also includes the timing and strategies to monitor and control risks.•Identification of Risks❖ Risk project log•Qualitative Analysis❖ The government of China has been giving significant attention to renewable energyconsidering the increasing shortage of energy sources as well as the country’senvironmental concerns (ECS, 2017).❖ However, different governments implement different policies that determine the politicalenvironment of renewable energy.❖ There is, therefore, a risk that a change in government may affect Siemens Gamesa’ssupply of wind power solutions in China.❖ China’s political risk can be analyzed based on whether the country favors foreign directinvestment (FDI) or not, particularly in renewable energy.❖ The China Energy Report of 2017 revealed that China•Quantitative Risk Analysis❖ Labor has the highest impact (0.7) and the second-highest probability (0.6) with a totalimpact of 0.42.❖ Competition has the second-highest impact (0.6) and the highest probability (0.7) with anoverall impact of 0.42.❖ Both procurement and quality have a high impact (0.6) but a low probability of 0.2 each,resulting in a total impact of 0.12.❖ Both the legal and natural environments have a low impact of 0.4 and a low probability of0.4 each, leading to an overall impact of 0.16.•Criteria for Risk Response plan❖ The following criteria will be applied in determining the response plan❖ Low Impact/low probability: These risks should not be actively pursued.❖ They will, however, be documented in the risk register to be monitored in the future.Under this category, demand and environmental risks, including political, economic,legal, and natural environment, will require monitoring.❖ Also, demand, communication, logistics, relationship with customer, and warranty, andwill need monitoring.•Risk Monitoring and Controlling Processes❖ The project team will hold a status meeting once a week to assess the status of the risks.❖ The risk owners will provide detailed reports concerning how they have implemented riskresponses and the outcome of those implementations.❖ During each meeting, necessary adjustments will be made to the risks and documented inthe risk register to facilitate subsequent risk monitoring and control.•Reference…

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