Project Management

Chapter 7 Managing adventure Review Questions 1.Project jeopardizes apprise/cannot be eliminated if the hold is care adequatey planned. Explain. Project attempts cannot be eliminated. It is impossible to be conscious of every things that might come up when a run across is being implemented. unwanted events identified before the hurl begins can be transferred, well-kept/ felld, or shared. hazard plans with trigger points and indebtedness should be found before the attend begins. 2.The chances of lay on the line events occurring and their respective(prenominal) costs change magnitude change over the project life calendar method. 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 accommodate mechanisms. Moreover, such changes could be momentous enough to require changes in scope. The project manager mustiness ensure that these changes are put down and kept updated. Otherwise the wholeness of the project control remains will quickly leave step forward and become trivial as a management tool. 3.What is the exit between avoiding a risk and pass judgment 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 follow through is taken; possibility plans may be use if the risk materializes. 4.What is the difference between mitigating a risk and contingency cookery? Mitigating a risk refers to taking action to either reduce th! e likelihood that a risk (bad event) will happen and/or reduce the impact the risk has on the project. Contingency prep is developing a response if the risk occurs. Mitigating is term of circuit while contingency is reactive. 5.Explain the difference between work out reserves and management reserves. Budget reserves are open up to cover identified risks that occur while implementing a project work package or...If you want to get a in full essay, order it on our website: BestEssayCheap.com

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