Managing project risk and opportunities

Assignment Help Financial Management

Reference no: EM132546935

Assignment Details

Risk assessment refers to the overall process of risk identification, risk analysis and risk evaluation; in the scope of the Risk Management Planning Process. Risk identification generates a list of the risks that may have an impact on the project and create uncertainty about whether or not it will achieve or exceed its objectives. Risk analysis is the systematic use of available information to develop an understanding of the risk. Risk evaluation is the process of comparing the estimated level of risk against risk criteria to determine the significance of the risk. Applying this process helps a project team make informed decisions about how to take action towards controlling/managing risks.

Applying your understanding of the stages of the Risk Assessment Process, how do you believe you have applied these steps in order to make informed decisions in your personal or professional life?

In your response, consider the following:

Question 1. Is there a conscious (or subconscious) process you explore when evaluating your options and how they may impact your desired outcome? Ex. You write down pro's & con's for a potential decision.

Question 2. What information do you use when ‘weighing your options'? Ex. Historical results/outcomes, feedback from a trusted source, etc.

Question 3. What "criteria" do you use to decide what's MOST important to you when making your decision? Ex. Your personal morals, company policy, the opinion of others, etc.

Reference no: EM132546935

Questions Cloud

How much cash dividend will be paid on each share : The Roosevelt Car Company has determined that it will pay a total cash dividend of $80,000. How much cash dividend will be paid on each share

What actions were taken by the organization : Research an organization that has undergone a restructuring in the last several years. Explain the market factors that uncovered the need for restructuring.

Compute Lincoln Company weighted average common shares : The Lincoln Logging Company had 10,000 shares of $1 par value common stock outstanding. Compute Lincoln Company weighted average common shares

Create a training proposal letter for a potential client : Pretend you are a business consultant selling your consultant business. Create a training proposal letter for a potential client that explains your professional

Managing project risk and opportunities : Risk assessment refers to the overall process of risk identification, risk analysis and risk evaluation; in the scope of the Risk Management Planning Process.

Who are the stakeholders in this case : The CEO of Suit Ltd, nervous that the shareholders might expect the business to sustain its 10% growth rate, Who are the stakeholders in this case

How is given issue being addressed in manufacturing today : How is this issue being addressed in manufacturing today? This part of the paper requires 4-6 pages with 4+ resources separate from your topical resources.

How information is or is not relevant in human behavior : laborate on three (3) critical points you gathered from this reading and explain how this information is or is not relevant in understanding human behavior.

Competing values framework is theoretical model : The Competing Values Framework is a theoretical model that is used worldwide for assessing organizational culture.

User Account

All Pages