Project Risk Management At Ernst And Young Next Summer

Problem 1 I decided to research the article â€Å"Shift the Focus of the PMO From IT Project Risk Management to Business Investment Risk Management.† This topic interests me because I will be interning at Ernst and Young next summer and will be primarily engaged in IT risk advisory, with an emphasis on financial services. I want to develop an understanding of the type of work I will perform in this position and believe this topic relates most appropriately to the position. The title suggests that the article will be a higher-level analysis, something I was looking for when choosing an article. The article focused on the benefits of shifting the emphasis from IT governance to business change governance. This aids the PMO to see the full scope of all the risks involved in projects and portfolios. The article provided six classes for risks. These were technology risk, schedule risk, complexity risk, operational risk, business risk, and organizational risk. Contrary to popular belief, multiple surveys indicate that technology risk is rarely the most important factor for an initiative. These risks are then weighed and reviewed for potential hedging options. The article concluded with the benefits of the PMO delegating ownership. The PMO will maintain a higher-level view of the project and gain significantly improved chances for success. IT may in some cases retain an IT PMO as a subset of the enterprise PMO, especially for IT infrastructure projects, but the emphasis on the enterpriseShow MoreRelatedCase 2 Jamaica Water Properties I Essay5191 Words   |  21 Pagesexplicitly r eward ethical behavior by their employees and executives? 4. What measures can accounting firms take to reduce the risk that personal relationships between client personnel and members of an audit engagement team will not adversely affect the quality of an audit? 5. Was the 1988 ‘‘retention agreement’’ that Ernst Young made with JWP appropriate? 6. 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