Managing adventure
Review Questions
1.Project risks can/cannot be eliminated if the insure is care adequatey planned. Explain.
Project risks cannot be eliminated. It is impossible to be aware of every things that might come up when a project is being implemented. unwanted events identified before the project begins can be transferred, well-kept/reduced, or shared. hazard plans with trigger points and responsibility should be found before the project begins.
2.The chances of risk events occurring and their respective costs change magnitude change over the project life cycle. What is the significance of this phenomenon to a project manager?
The chances of risk events and estimated costs changing over the project life cycle are high. These events will wedge project change control mechanisms. Moreover, such changes could be momentous enough to require changes in scope. The project manager mustiness ensure that these changes are recorded and kept updated. Otherwise the wholeness of the project control system will quickly leave out and become useless as a management tool.
3.What is the exit between avoiding a risk and accepting a risk?
Avoiding a risk is changing the project plan in advance so as to eliminate specific risks from occurring magical spell accepting a risk means no halt action is taken; possibility plans may be use if the risk materializes.
4.What is the difference between mitigating a risk and contingency planning?
Mitigating a risk refers to taking action to either reduce the likelihood that a risk (bad event) will happen and/or reduce the impact the risk has on the project. Contingency planning is developing a response if the risk occurs. Mitigating is term of enlistment while contingency is reactive.
5.Explain the difference between work out reserves and management reserves.
Budget reserves are established to cover identified risks that occur while implementing a project work package or...If you want to get a full essay, order it on our website: Orderessay
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