Hi, need to submit a 1250 words paper on the topic Project Management: Management of Risks. Management of risks is a fundamental aspect that must be properly integrated into the daily operation of the firm. In this context, Mode Sante will be exposed to a number of risks as it strategies to open another branch (Active Being Complex). It is stated that the project must be executed within the scarce capital, and, therefore, effective risk management to eliminate capital misappropriation is inevitability. In addition, the refurbishment of the leased premise must be executed with a close eye on proper risk management to ensure its success. In this essay, therefore, the researcher investigates the possible applicable risk management theories that will help accomplish the launch and running of the Active Being Complex. A number of risks are identified in the essay to affect the firm in almost all aspects of the company’s operation right from operational to employee’s risk. In addition, small labor turnout, liquidity, natural disaster, inadequate training to employees and other competitors are examples of risk looming. Moreover, the consequences of such risks are also presented in the essay. The risks are identified, and the researcher then discusses how such risks can be effectively managed. In conclusion, it is stated that the success of the Active Being Complex hangs on the ability of Mode Sante Company to manage risk. The firm should employ the self-theories discussed in the essay to ensure proper risk management and effectively and systematically identify, analyze, evaluate, monitor and review the risk management.
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