Country risk refers to a country’s inherent risks that may affect its businesses and result in losses to multinational business organizations. These evolving risk factors are extremely important to monitor overtime for organizations that wish to conduct international business. Since most international organizations conduct business in the form of a global project, it is critical that an effective global project manager understand how to effectively conduct a country risk assessment (CRA).
An effective CRA will assess at the country’s business risk by looking at factors like the following risk factors:
- Political,
- Economic,
- Geographical features,
- Technology advancement,
- Workforce competencies,
- Safety & stability.
Note: I encourage you research the PESTLE analysis acronym and technique.
For these identified country risks, the global PM must be able to identify, quantify, prioritize and develop risk mitigation recommendations to ensure that the project is successful. (Please read attached PDF.)
Individual Assignment Tasks.
- You will write a 5-6-page MS Word paper on Country Risk Analysis covering ALL of the following required 3-elements. (Note: APA format – pls refer to syllabus for guidance).
- Element 1: Please conduct graduate-level research on the concept and applicability of Country Risk Analysis & Assessment (CRA). Provide your individual analysis on why a CRA is critical to effective global project risk management. Please ensure you provide necessary citations and references to your evidence-based research. I expect at least 5 – non-text- research references for articles or academic papers.
- Element 2: Choose a country (cannot be your country of origin) and conduct a high-level CRA. Assume you are being assigned as the Project Manager for a project being run in the assigned country. Conduct an effective CRA for your project sponsor. Your CRA must include at least 4 country risks that you feel are critical to the project’s overall success. Please be specific on how these country risks may adversely affect the project.
- Element 3: As the global project manager, provide risk mitigation recommendations for at least 3 identified risks. Mitigation recommendations should focus on project resources, project communications, project team development & coordination and project decision making.
- Assignment due EOD Sunday Week 5 – Please post your individual assignment to Canvas.