In not more than a page, establish the benefits of risk management on a project
Question one
In not more than a page, establish the benefits of risk management on a project
Question 2
Distinguish between quantitative and qualitative risk assessment techniques
Question three
Discuss the risk identification inputs, tools and output for a project of your choice.
Question four
The following strategies can be used to respond to identified risk: Avoid; Transfer; Mitigate;
Accept Exploit; Share and Enhance. As a project manager for a construction company,
discuss when and how to apply each of them.
Question five
a) What is Probability Impact Assessment?
b) Distinguish between management and contingency reserves
Question six
What are the inputs, tools and output used for plan risk management and risk control?
Question seven
Identify a project of your choice, and prepare a Risk Register for the project.
Question eight
Explain how 5 different project risk identification techniques can support the achievement of a
project’s objectives. For each technique identified, marks will be awarded as follows:
Select a relevant identification technique.
Clarify/demonstrate comprehension of how this technique can support the achievement
of a project’s objectives.
Give a relevant example which illustrates application of the explanation being given.
Question nine
Explain how 5 different benefits of project risk management can add value to an organization.
Marks will be awarded as follows:
Select a relevant benefit
Clarify/demonstrate comprehension of the added value to an organization.
Give a relevant example which illustrates application of the explanation being given
Question ten. Answer True or False and Justify
a) Risk management represents a knowledge area typically not done in the
Executing Process Group.
True. The processes found in the Risk Management Knowledge Area are typically not done in
the executing process. They are typically only done in Planning and Monitoring & Controlling.
b) A Delphi technique is conducted with experienced project managers, subject matter
experts and other known stakeholders.
False
c) Project risk should be identified only at the beginning of the project.
False
d) PERT is a
True
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