Look at either where you work currently, your homelife, or even your current journey through Post University. In any of these scenarios, you are going to meet risk. And in any of these, I’m sure you’ve already experienced some level of risk. So how can we better manage that risk moving forward? Think of how you currently handle risk in a given event, what your objectives have been, what actions you took, and what the outcome was for the risk associated with these events.Team objectivesProcess for handling risk eventsTeam activitiesTeam outputs. Please answer the following:How can you define risk?Risk should be dealt with factually and practically. So how can a group of individuals discuss risk in a practical manner?Projects require a timeline, budget, and technical inputs. How can you improve your estimates for each?Regarding the budget, be it work, home or with Post University, what’s the best way to show those with the money that contingency funds are a necessity?Where do you think the greatest opportunities are in a project to reduce risk?

Risk can be defined as the probability of an event and its consequences. Risk management is the…

Answered: Look at either where you work…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Look at either where you work currently, your homelife, or even your current journey through Post University. In any of these scenarios, you are going to meet risk. And in any of these, I’m sure you’ve already experienced some level of risk. So how can we better manage that risk moving forward? Think of how you currently handle risk in a given event, what your objectives have been, what actions you took, and what the outcome was for the risk associated with these events.
- Team objectives
- Process for handling risk events
- Team activities
- Team outputs.
Please answer the following:
- How can you define risk?
- Risk should be dealt with factually and practically. So how can a group of individuals discuss risk in a practical manner?
- Projects require a timeline, budget, and technical inputs. How can you improve your estimates for each?
- Regarding the budget, be it work, home or with Post University, what’s the best way to show those with the money that contingency funds are a necessity?
- Where do you think the greatest opportunities are in a project to reduce risk?

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