PMAN637 Project Risk Management Assignment

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Reference no: EM132558819

PMAN637 Project Risk Management - University of Maryland Global Campus

Question 1a & b: Reading and Organizing Risk Data

Question 1a) Pareto charts are often called histograms and show most frequently occurring risks to projectsin descending order. "Aggregating" these is totaling by category(such as all scope risks) and organizing data in a descending bar chart. Aggregate data refers to numerical or non-numerical information that is (1) collected from multiple sources about differing multiple risks, variables, or data and (2) compiled into data summaries or reports, typically for the purposes of statistical analysis-i.e., examining trends (see Kendrick, 2008 on project risk aggregated data from 600 projects into his PERIL database). How many weeks of "impact" did poor schedule estimates in 600 projects trigger?

Question 1b) Each person needs to be able to read a Probability & Impactmatrix rating scale in PMAN 637. Review the worldwide standards PMBOK Guide scale, Table 11-1 (PMI, 2017, 6th edition, p.407). Also re-read the definition of a "matrix" on p.408. Then go back to the JISC (2012) article assigned during session 1 and session 3: read section "The risk log" through "Assigning Numeric Scales". What is the numerical rating for a "low probability" but "high impact" rating ofa schedule risk?

Question 2: Identifying Project Risks

Intellectual property risks can be classified in a risk breakdown structure (RBS) for discussion by diverse teams in any work setting. Create an RBSwith proper numbering(seeThe Standards for Risk Management, PMI, 2019 for format) categorizing "intellectual property risks" in the following case:

"Tampa Bay Water Desalination Plant", on p.12 of the article assigned "Mitigation of Risk in Construction: Strategies for Reducing Risk and Maximizing Profitability" (McGraw-Hill, 2012). This article is under "Content/Session 3 Reading Lists" assigned in our Graduate School class June 3-10.

Question 3 Risk Mgt. Tools and Methods in Performing Quantitative Analysis (worth 4 points). Describe two useful methods you have learned this semester to "perform quantitative analysis" and cite (no direct quotes: must be in your own words!) from methods described from two different readings from sessions 3-6. Use APA style (Author, Year, page #) as your citation format. One paragraph per method limit, please.

Question 4 Using a Risk Register and Rating Scale: case analysis

Read the attached "Ready-Energy" case and format a Risk Register (you can use the template in "Content" session 7 discussion forum or develop your own in Excel).

a) Identify the top 8 risks facing the Project Management team.

b) Categorize these by scope, schedule,budget, and technical risks. Weather or environmental risks would impact both schedule and budget.

c) Rate risks and calculate overall "risk score"using the scale provided at the end of the case.

Risks in Producing Electricity via Steam-Powered Turbines: A Hypothetical Case

Attachment:- Project Risk Management.rar

Reference no: EM132558819

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PMAN637 Project Risk Management Assignment : PMAN637 Project Risk Management Assignment Help and Solution, University of Maryland Global Campus - Assessment Writing Service

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