Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
- Discuss the scope of project risk management.
- Provide your opinion on how the challenges of Covid-19 affected the scope of project risk management.
- Analyse the various sources of project risk associated with performance criterion.
- With regards to the case study, discuss in detail, the possible negative impact of COVID-19 on sources of project risk associated with performance criterion.
- Describe the execution stage within the context of project stakeholder views on risk needs.
- Discuss the significance of contingency information in project risk management.
- Analyse, in detail, the five (5) phases of a disaster recovery plan.
- Explain how a business could deflect / transfer risk associated with projects.
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