Describe the categorisation of project risk

Reference no: EM133047887

Question 1: What is the importance of involving stakeholders while determining risk objectives and standards? Answer in 100-150 words.

Question 2: What is project risk context? Explain the external and internal context of project risk. Answer in 200-250 words.

Question 3: Describe the following valid and reliable methods for risk identification:
1. Qualitative and quantitative risk analysis
2. Lessons learnt (from previous projects)
3. Inputs from personal experiences
4. Risk register
5. Risk identification workshops
6. Inputs from subject matter experts (SMEs)
7. Specialist risk analysis tools
8. SWOT analysis
Answer in 30 to 50 words each.

Question 4: Describe the categorisation of project risk. Identify fifteen (15) different industry sector risk categories. Provide your answer in 50-100 words.

Question 5: What is risk analysis classification criteria? Answer in 250-300 words.

Question 6: What is the importance of a delegated authority in conducting risk analysis? Write your answer in 100-150 words.

Question 7: What do you understand by prioritisation of risk? How prioritisation of risk is obtained in agreement with project client and other stakeholders. Answer in 100 - 150 words.

Question 8: What is a risk register? What shall be documented in a risk register? Write answer in 200-250 words.

Question 9: What are the seven (7) steps that are employed to identify and document risk controls? Write answer in 200 -250 words

Question 10: What are the four (4) methods (or options) of risk treatment that can be utilised by a project manager in risk management? Answer each treatment options in 50-100 words.

Question 11: What is a risk management plan? Explain the five (5) main purposes of a risk management plan. Answer in 100 - 150 words.

Question 12: Describe the five (5) types of risk review process which are utilised to monitor risk environment and maintain currency of the risk plan. Write answer in 25-50 words for each process.

Question 13: Describe the process of ‘risk response'. Explain the seven (7) parameters that makes risk response effective. Answer in 150-200 words.

Question 14: Explain the process of reviewing the project outcome to check effectiveness of risk management processes and procedures. Write your answer in 250 - 300 words.

Question 15: Describe the three (3) findings that should be identified and documented after effective review of risk management plans. Answer in 30-50 words each.

Question 16: What are the key components of a risk management plan? Answer in 150- 200 words.

Question 17: Describe the process of developing a risk management framework for managing the risk of a project (in agreement of stakeholder). Write your answer in 100-150 words.

Question 18: Describe the characteristics, techniques and appropriate applications of qualitative risk management. Provide your answer in 100-150 words.

Question 19: Describe the characteristics, techniques and appropriate applications of quantitative risk management. Answer in 100-150 words.

Question 20: Describe the seven (7) risk management tools that can be used to evaluate risk on a project.

Reference no: EM133047887

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