ScenarioYou are the project manager working on a Market Mailing project. The client informed your project teamduring the project planning phase that the project must be completed on time in order to sync with the launchof the new product. Also, the client informed you and the team that there is no cash reserve for the project sothe project has to be completed within budget. Below is the status update that two project team members(Jennifer and Ben) put together. Based on the project's performance to date, complete the Rating ProjectRisk exercise on the next page.Task| Budgeted Actual PercentworksEstimate Planned Planned Actual Projected| PlannedtoActualResource ResourceUtilization Utilizationworksend dateworkcomplete complete datestartstartdateendcostcostdatetodate60hoursI $60050hoursI $500June 15 March June 15120hours /$1200120hours /$1200A30%90 hoursMarch25%30%I $9001530May 15April8B30%April 1May 3030%60 hoursI $60050%Rating Project RiskBased on the project's performance complete the risk assessment chart below by rating each risk factor asfollows:• High, medium, or low in terms of its potential impact• High, medium, or low in terms of its probability of occurrenceProject Risk ItemsPotentialProbabilityOverall Risk Risk Score JustificationImpactof(H/M/L)Statement(H /M/L)Occurrence(H /M/L)Completing Task Aover the $1,200 budgetCompleting Task Aafter the scheduledend date of June 15Completing Task Bover the $1,200 budgetCompleting Task Bafter the scheduledend date of May 30Extract the combined effect of those two values, combined with your judgment, and score each risk factor ashigh, medium, or low overall. Justify your scores using the data provided above.

Based on the project's performance complete the risk assessment chart below by rating each risk factor as follows: • High, medium, or low in terms of its potential impact • High, medium, or low in terms of its probability of occurrence

Based on the project's performance complete the risk assessment chart below by rating each risk factor as follows: • High, medium, or low in terms of its potential impact • High, medium, or low in terms of its probability of occurrence

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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