Managing Risk

Instructions

Please put your name/date in the header. Answers should be no longer than six sentences per question (120 words). Please refer to the class syllabus for the grading rubric. Assignment is worth a total of 10 points. Questions are located in the Discussion Questions section at the end of each chapter.

Please save the file using the following naming system: Class_Name_Week#_Assignment. For example, if Rosie Dodson was submitting her week 7 homework, her file would be saved with the following title: MGMT410_RDodson_week7_homework.

Discussion Question 7.3:
Analyze Figure 7.2 (degree of risk over the project life cycle). What is the practical significance of this model? What implications does it suggest for managing risk?

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Discussion Question 7.5:
Discuss the advantages of using the Risk Breakdown Structure (RBS) as a tool to organize risks on a project.

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Communication Question 7.7:
Discuss and provide some examples of how a project manager may transfer risk on a project. Can you identify any limitations with this response?

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Communication Question 7.10:
Consider the following observation: “The problem with risk analysis is that it is possible to imagine virtually ANYTHING going wrong on a project. Where do you draw the line? In other words, how far do you take risk analysis before it becomes overkill?” How would you respond?

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