Posted: September 13th, 2017

unfavorable risks

unfavorable risks

Question 1:
Think of a project with which you have been involved. Share some of the unfavorable risks that presented themselves. What favorable risks were discovered? How did they affect the outcome of the project?

Question 2:
What are the three risk dimensions a project team needs to address when assessing for project uncertainties? What are possible sources that can affect project uncertainty?
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

Question 3:
How can uncertainties affect a project? What impact can an unfavorable uncertainty and a favorable uncertainty have on a project? Provide examples.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

Question 4:
Explain the possible benefits to using one of the simulation methods when assessing for possible project risks. Why is this method better for some projects than risk mapping, FMEA, the gut-feeling method, and the Delphi method?
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Question 5:
Explain why it is important to plan for uncertainties and how to implement a strategy to address possible risk factors.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

Reference

Brown, K. A., & Hyer, N. L. (2010). Managing projects: A team-based approach. New York, NY: McGraw-Hill/Irwin.
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