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Respective costs increasing change over project life cycle

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Reference no: EM132614608

Two Paragraphs with a scholar resource, use this resource if you can get it: Larson, E. & Gray, C. (2014). Project management: The managerial process (6th ed.). New York: McGraw-Hill Education.

1. Project risks can/cannot be eliminated if the project is carefully planned. Explain.

2. The chances of risk events occurring and their respective costs increasing change over the project life cycle. What is the significance of this phenomenon to a project manager?

3. What is the difference between avoiding a risk and accepting a risk?

4. What is the difference between mitigating a risk and contingency planning?

5. Explain the difference between budget reserves and management reserves.

6. How are the work breakdown structure and change control connected?

7. What are the likely outcomes if a change control process is not used? Why?

8. What are the major differences between managing negative risks versus positive risks (opportunities)?

Reference no: EM132614608

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