The first step is to identify risks then classify risks

Assignment Help Operation Management
Reference no: EM132255924

Risks are a part of any project. Learning to manage them is a key part of being a project manager. The first step is to identify risks, then classify risks. Not all risks are negative. Negative and positive risks will need to be dealt with differently. Once risks are classified, a strategy can be chosen to deal with risks appropriately. For negative risks, you could accept the risk, transfer the risk, reduce the risk, or eliminate the risk. For positive risks, you could enhance the risk, exploit the risk, share the risk, or accept the risk. This will become part of your Risk Management Plan on a project. For this week, come up with an example of a risk for each of the risk categories listed above that would be appropriate for the strategy and why you selected it.

Reference no: EM132255924

Questions Cloud

Examine the elements needed in a good strategic plan : Examine the elements needed in a good strategic plan for the facility and details how the implementation of any new program developed will be included.
What is the probability of the ice cream truck stocking out : The uddairy ice cream truck plans to sell ice cream at upcoming alumni event in Central Park (NYC). what is the probability of the ice cream truck stocking out?
Ensure workforce planning and employment are compliant : Describe two ways to help ensure workforce planning and employment are compliant.
Explain the importance of receiving a student membership : HRM 500 Then explore the Society of Human Resource Management website, explain the importance of receiving a student membership. Then, provide one (1) HR.
The first step is to identify risks then classify risks : Risks are a part of any project. Learning to manage them is a key part of being a project manager. The first step is to identify risks, then classify risks.
What is the difference between problem and symptom : With reference to IT as a tool for ‘controlling’ in organizational management, what is the difference between a ‘problem’ and ‘symptom’?
What is the value of contract law principle : What is the value of a contract law principle that recognizes formation of a contract without all of the traditional formalities involving pen and paper?
Describe the claim of buying organs for transplant : Refute the claim that people should be able to buy organs for transplant if they would not be able to receive an organ by waiting their turn.
Globalization presents new frontiers and challenges : Globalization presents new frontiers and challenges for labor organizations.

Reviews

Write a Review

Operation Management Questions & Answers

  Consultant for behavioral health care facility

You have been hired as consultant for behavioral health care facility that is comprised of 11 client service sites.

  Reflect on interest groups and democracy

Reflect on interest groups and democracy. Discuss whether interest groups magnify the power of individuals to influence government and public policy or if they are used as a tool to exclude “regular people” in favor of wealthy elites.

  Explain how utilizing consequencs table support improved

Explain how utilizing a Consequencs table support's improved decision making through one or more of the follwing:

  Firm size and its top-level managers compensation

Some evidence suggests that there is a direct and positive relationship between a firm’s size and its top-level managers’ compensation.

  What new information can you find out about the trial

COMM 441 The article, "The Egg Thief," follows the history of the international criminal, Jeffrey Lendrum and his violations of tampering and selling protected.

  Way to change the status quo without discomforting

“There is no way to change the status quo without discomforting those who are comfortable with the status quo.”

  The narrative of media decline in age of conglomeration

According to Hilmes, all of the following evidence complicates the narrative of media decline in age of conglomeration EXCEPT:

  Contrast the corporate values espoused by two fortune

Contrast the corporate values espoused by two Fortune 500 companies. Select two firms that seem to manifest very different cultures. Your response should focus on the tradeoffs you would experience working in the two firms in terms of the values you ..

  Difference in the way these two methods handle trend

There is two methods that can be used for time series that exhibit trend. The first is trend analysis (in the class of methods known as decomposition) and Holt’s (a double exponential smoothing method). Explain the difference in the way these two met..

  Determine level of reliability required for each components

An engine system consists of three main components in a series, all having the same reliability. Determine the level of reliability required for each of the components if the engine is to have a reliability of 0.998.

  Strategy of sending chinese employees

Why did Ross's strategy of sending Chinese employees over to the US for training produced better results than bringing American managers to China?

  Dispute will be decided via binding arbitration

Becky Sharp and Sydney Carton applied to become administrative assistants for Gizmo, Inc. (GI). After the interviewing process, both were hired and asked to sign contracts that contained the same provision: “If there is any dispute as to employment p..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd