Risk and Diversity Project Selection and Implementation

Question: Discuss about the Risk and Diversityfor Project Selection and Implementation. Answer: A project faces numerous risks when project teams are both geographically as well as culturally diverse. It is analyzed from the post that geographical diverse project does not utilize traditional system of communication like instant messaging, face to face discussions as well as telephonic calls. Cultural values can also create negative impact on project in context to work ethics, values as well as holidays. This is because organizational hierarchy of one country differs from another, which gives rise to differences in hierarchical authority. The geographical diverse team creates negative challenges in the implementation of the project in context to market opportunities, commissioning, project selection and implementation whereas cultural risk hampers the project in terms of organizational culture, negotiation as well as networking (Turner, 2016). The problems or risk that project faces due to culturally as well as geographical diverse team can be resolved by establishing an optimal structure of the team, creating collaborative planning as well as decision making commitment, dividing tasks symmetrically between regions, and by reducing time-zone differences. The other risk areas, which are identified in context to culturally diverse as well as geographical teams, include distribution of task, geographical distribution, cultural distribution, stakeholder relations, technology set up as well as communication infrastructure (Hall et al., 2015). It is analyzed from the post that incorporation of proper policies as well as procedures is quite effective in reducing the challenges that organization faces due to culturally as well as geographically diverse teams. Therefore, it is quite significant to provide clear triggers, which are helpful in activating the processes that can be given with the help o trend analysis as well as variance. References Hall, N. G., Long, D. Z., Qi, J., Sim, M. (2015). Managing underperformance risk in project portfolio selection.Operations Research,63(3), 660-675. Turner, R. (2016).Gower handbook of project management. Routledge.