Enterprise Risk Management [100 marks]——-1000 words (a:650 words; b:350words)
a) Evaluate the role of Enterprise Risk Management (ERM) in the strategic alignment of projects and programmes with corporate strategy. You should use examples to support your answer.
b) Discuss the main challenges to successfully implementing ERM in project-based organisations.
2. Black-swan Events [100 marks]——-1000 words (a:600 words; b:400words)
a) Discuss the role of knowledge management as part of a strategy to embed organisational resilience in the face of black swan events. We can’t predict ‘black-swan’ but we can aspire to cope with them— what role does ‘reflection’ and ‘reflective practice’ play in this. You should provide examples to support your answer.
Describe the nature of ‘black-swan’ events and explain why they occur. You should use examples of ‘black swan’ events to support your answer.
3. Deep-smart [100 marks]——-1000 words (a:500 words; b:500words)
Leonard and Swap (2002) state that people with “deep smarts” almost intuitively make the right decision, at the right level, with the right people. They go on to suggest that managers will be more effective if they understand what deep smarts are, how they are cultivated, and how they can be transferred from one person to another.
Discuss the challenges facing organisations in maximising the potential benefits of deep smarts and the impact that this has on risk management processes during projects. Discuss why the efficient utilisation of ‘deep-smarts’ represents a major challenge for organisations.
What can organisations do to recognise, retain and share deep smarts? What are the implications of organisations failing to effectively utilise deep smarts when undertaking new projects. You should draw on practical examples to illustrate the theory in your answer.