MGT4202 RM Group Assignment #1
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MGT4202- Project Risk Management Group Assignment #1
Submitted by: Group 1 (Success) Submitted to: AmanSiddiqui Mohd
Group Members: Harpreet Singh (90541125861) Jeewanjot Kaur (90541112378)
Harpreet Kaur (90541118175)
Inderjeet Singh (90541127533)
Jugraj Singh (90541114602)
Harmanjeet Kaur (90541126335) Suman Shekhawat (90541119178)
Daya Singh (90541112994) Rohit Sachdeva (90541127786) I will provide a brief overview of the strategic risk management plan for COVID-19 response for
the Project Management Graduate Certificate program at Algonquin College.
Analysis of Knowns, Unknowns, and SWOT:
I.
Knowns:
Algonquin College's Project Management Graduate Certificate program now features
three instead of two classes per year.
Class sizes have been reduced to enhance the learning experience.
The program is waitlisted, indicating high demand among students.
Other programs at the same college have seen reduced applications.
The program has been conducting online classes for nearly a year.
II.
Unknowns:
The course of the COVID-19 pandemic in 2021 and its potential impact on the program are uncertain.
The effectiveness of online learning and the adaptability of students to this format are uncertain.
The economic conditions and job market trends in 2021 and their effects on enrollment are unknown.
The long-term demand for the program beyond 2021 is uncertain.
The competitive landscape for similar programs in the region is unknown.
III.
SWOT Analysis:
Strengths
:
- High demand and waitlist for the program.
- Reduced class sizes for better learning outcomes.
- One year of experience in delivering online classes.
- Adaptation to the changing educational landscape.
Weaknesses
:
- Uncertainty surrounding the future course of the pandemic.
- Unknown effectiveness of online learning.
- Dependence on the economic and job market conditions.
- Potential competition with other programs.
Opportunities
:
- Growing interest in project management skills.
- A rise in enrolment as a result of smaller classes.
- Potential to continue offering online classes.
- Expansion of program offerings based on market demands.
Threats
:
- Ongoing pandemic disruptions.
- Economic downturn affecting enrollment.
- Increased competition from other institutions.
- Challenges in maintaining high-quality online education.
IV.
Strategic Risk Management Plan:
1.
Scenario Planning
:
Create several scenarios taking the pandemic's path, the state of the
economy, and student comfort with online learning into account. For every situation,
develop reaction plans.
2.
Enhance Online Learning:
By giving faculty members the tools and training they need
to successfully teach online; you can invest in raising the standard of online education.
Following up on student comments, adjust your teaching strategies.
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3.
Diversification:
Examine the potential to expand program offerings to address shifting
market demands outside of project management, such as adjacent disciplines or
specialized courses.
4.
Financial Preparedness
:
Keep a reserve of money to cover unforeseen costs or
decreased enrolment brought on by the epidemic or other problems.
5.
Competitive Analysis:
Keep an eye on the market for comparable programs and
continuously alter your marketing and program features.
6.
Communication and Engagement:
To resolve issues and guarantee a healthy learning
environment, whether in person or online, keep lines of communication open with
students, instructors, and staff.
7.
Long-term Strategy:
Create a long-term plan that accounts for the potential for ongoing
online education and places the program in a position to succeed in a post-pandemic
environment.
8.
Collaboration
:
Investigate forming alliances or working together with other educational
establishments or groups to pool resources and knowledge for providing top-notch online
education.
9.
Data Analytics
:
Utilize data analytics to track enrollment trends, student performance,
and market demand. Use data-driven insights to make informed decisions.
10. Flexibility and Agility:
Maintain a flexible curriculum that can adapt to changing
circumstances, including a seamless transition between online and in-person learning
when necessary.
11. Student Support:
Provide all-encompassing aid to online students, such as academic
counseling, technological support, and mental health resources.
12. Continuous Improvement:
Establish a culture of continuous improvement, where
feedback from students, faculty, and industry experts is used to refine program offerings
and delivery methods.
In conclusion, the strategic risk management plan should focus on flexibility, adaptation, and
resilience to navigate the uncertainties brought on by the COVID-19 pandemic in 2021 while
capitalizing on the program's strengths and opportunities. By addressing weaknesses and threats
proactively, the program can position itself for long-term success in a rapidly changing
educational landscape. References
1.
https://www.algonquincollege.com/coronavirus/
2.
https://www.algonquincollege.com/coronavirus/faq-health-and-safety/
3.
https://www.algonquinhighlands.ca/our-community/covid-19-response/
4.
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