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Question: (a) A famous man once said: "If you do not know where you are going, how will you know how you will reach your destination". This sentence captures the importance of
Define the critical path analysis in risk management. Critical path analysis (CPA) or network analysis: Gantt charts are a poor time management tools while projects are l
Chapter 6 presents several tools that can be useful when assessing for project uncertainties. Compare and contrast risk mapping, FMEA, and the gut-feeling method. Which method do y
Explain about the process of managing risk. A process of managing risk: 1. Risk committee establish to address risk issues categorised for example usual risk audits, to estimat
Prepare a 1-page Cost Estimate in MS Excel for the project similar to the example provided below. Use the WBS items provided below, and be sure to document assumptions you make in
What are the steps of controlling in the management? All the steps comprised in controlling are as follows: • Purpose of standards of performance. • Measurement of defini
Creating a Risk Management Plan The main aim of risk management is to develop a well-structured approach to deal with any kind of uncertainty, which create threats in the proj
Example of a strong matrix
An organisation's capacity to maintain a sustainable competitive advantage depends largely on its core competencies as well as the ability to refine and enhance them in the context
1. Inventory and Stores Control : Inventory control is a systematic procedure for ensuring the availability of items necessary to meet the production requirements at o
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