EBK OPERATIONS MANAGEMENT
13th Edition
ISBN: 8220103675987
Author: Stevenson
Publisher: YUZU
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Chapter 17, Problem 19P
Create a risk matrix for this project:
Explain your reasoning for your placement of the events Weather problems and Funding delays.
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can you explain material supply risk in terms of schedule, cost, and quality of the project? explain how the risk management process is made to manage the risk.
Create a risk matrix for this project:Event Cost ($000) ProbabilityEquipment breakdown 40 .20Vendor is late with key segment 200 .60Subcontractor has labor issues 140 .30Weather problems 15 UnknownFunding delays 50 .40 to .60Testing delays 20 .40Explain your reasoning for your placement of the events Weather problems and Funding delays.
Explain the relationship between scenario analysis and risk management.
Chapter 17 Solutions
EBK OPERATIONS MANAGEMENT
Ch. 17 - A project manager may need two skill setsthose of...Ch. 17 - Explain the term project champion and list some...Ch. 17 - List the steps in risk management.Ch. 17 - Give some examples of ethical issues that may...Ch. 17 - What are the key advantages of using project...Ch. 17 - What is a work breakdown structure, and how is it...Ch. 17 - Identify the term being described for each of the...Ch. 17 - List the main advantages of PERT. List the main...Ch. 17 - Why might a probabilistic estimate of a projects...Ch. 17 - Define each of these terms, and indicate how each...
Ch. 17 - Why might a person wish to be involved with a...Ch. 17 - Prob. 12DRQCh. 17 - What are some aspects of the project managers job...Ch. 17 - What is the main benefit of a project organization...Ch. 17 - What trade-offs are associated with time and cost...Ch. 17 - Who needs to be involved in assessing the cost of...Ch. 17 - Prob. 3TSCh. 17 - Project management techniques have been used...Ch. 17 - Give three examples of unethical conduct involving...Ch. 17 - For each of the following network diagrams,...Ch. 17 - Chris received new word processing software for...Ch. 17 - Prepare a Gantt chart for each of the following in...Ch. 17 - a. Develop a list of activities and their...Ch. 17 - For each of the problems listed, determine the...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - Three recent college graduates have formed a...Ch. 17 - The new director of special events at a large...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - The project described in the following table is...Ch. 17 - The following precedence diagram reflects three...Ch. 17 - A project manager has compiled a list of major...Ch. 17 - Here is a list of activity times for a project as...Ch. 17 - The project manager of a task force planning the...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - Chucks Custom Boats (CCB) builds luxury yachts to...Ch. 17 - Prob. 17PCh. 17 - Create a risk matrix in the style of Figure 17.13...Ch. 17 - Create a risk matrix for this project: Explain...Ch. 17 - CASE: The Case of the Mexican crazy quilt 1. The...Ch. 17 - CASE: The Case of the Mexican crazy quilt 2. The...Ch. 17 - CASE: The Case of the Mexican crazy quilt 3. The...Ch. 17 - CASE: The Case of the Mexican crazy quilt 4. The...Ch. 17 - CASE: The Case of the Mexican crazy quilt 5. The...Ch. 17 - B. Smitty Smith is a project manager for a large...
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- XSU Spring Concert You are a member of the X University student body entertainment committee. Your committee has agreed to sponsor a spring concert. The motive behind this concert is to offer a safe alternative to Alta Vista Baby (AVB) Week‐end, a spring event in which students for X University rent houseboats to engage in heavy partying. Traditionally this occurs during the last weekend in May. Unfortunately, the partying has a long history of getting out of hand, sometimes leading to fatal accidents. After one such tragedy last spring, your committee wants to offer an alternative experience for those who are eager to celebrate the change in weather and the pending end of the school year. You have just finished a preliminary scope statement for the project (see below). You are now brainstorming potential risks associated with the project. 1. Identify potential risks associated with this project. Try to come up with at least ten different risks. 2. Perform a risk assessment to analyze…arrow_forwardThe chart below shows the initial investment and expected yearly payback for Project A and Project B Project A Project B Initial Investment $ 300,000 $ 450,000 Expected Yearly PayBack $ 45,000 $ 90,000 For Project A, There has been a change in the expected yearly payback. Years 1 and 2 – you are expecting $45,000 each year. For the next three years, you are expecting $70,000 each year. What would be the average ROI for this alternative?arrow_forwardExplain the concept of "requirements volatility" and how it affects project risk management in dynamic environments. What strategies can mitigate its impact?arrow_forward
- Identify one (1) example of a specific risk that might occur on a project to hold an outdoor sports event, and give an example of at least 3 different types of risk RESPONSE for this specific riskarrow_forwardAs an IT Project Manager what are two issues or project challenges unique to the IT industry that may affect the management of a vaccine rollout project.arrow_forwardWith an aid of a diagram, show the relationship between risk assessment and risk management.arrow_forward
- There is no need to profile the target beneficiary when planning for a program or project True Falsearrow_forwardHow priority to each risk can be computed? Write the mathematical expression for the same. Name the three risk containment strategies.arrow_forwardPick a company project of your choice that is about to be assessed and implemented and do a comprehensive risk assessment on that project. Additionally, complete a scenario plan relating to the project picked.arrow_forward
- The purpose of doing a risk analysis.arrow_forwardIn your role as project leader for the organization's involvement in the annual United Way campaign, you have planned a party to mark the end of the fundraising initiative. What must you do to ensure the party is developed successfully? Thank people for attending the party for the United Way initiative. O Include the party in the planning document for the United Way initiative. Send out a calendar invite so the party appears on everyone's schedule. Reserve the room where the party will be held.arrow_forwardDiscuss the most common sources of risk in IT projects, as well as mitigation strategies. How do decision trees and Monte Carlo analysis quantify risk?arrow_forward
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