Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Risk Categorisation
Management of risk involves:
There are three categories of project risk are:
Figure: Categories of Risk
The significant known projects risks are either controlled or not. However the unknown risk is hidden so specific so we cannot implement any planned actions for them. There are certain things which can be done for managing uncontrolled risks like setting project reserves, budget on the basis of the measured consequences of unanticipated problems on similar past projects and keeping track of specific past projects.
Root cause analysis helps us to analyse whether the risk arising from factors can be controlled and may therefore be preventable or it is due to uncontrollable causes. When risks are out of control then it can be managed through recovery Example of known controllable risk includes usage of new technology, performance of a deliverable or pressure to establish aggressive deadlines.
For known uncontrollable risks, the project team has no influence on the source of risk. Example includes loss of project staff, or business reorganisation. To deal with such risks the best way is to deal with effects after the risk occurs, recovering with a contingency pan which is prepared in advance.
The risk may be a consequence of a project assumption or a choice made in planning that could be changed, resulting in a better project. Hence staffs are a major factor in controlling risks.
GIVE ME AN EXPAMPLE OF A PROJECT CHARTER.
What are the purposes of budgets in risk management? The purpose of budgets: P Planning R Resource employment or responsibility accounting I Integration and/o
What is the procedure of privatization? This is however; wrong to think about the procedure of privatization can act as a magic wand. An extremely recent comparative study of t
Q. Process of Packaging and labeling of the product? Packaging of biscuits involves both the primary and secondary packets. These primary package should be laminated paper whi
All processes are subject to various influences such as mechanical electrical and environmental changes which is tend to deviate the process from its initial setting. The
Flexible Manufacturing System FMS (Flexible manufacturing system) is a computer controlled system. It consists of several stations each geared to different operations. Work st
Question: (a) Identify and describe the major roles of a Project Manager with illustrations where necessary. (b) Identify and describe the different types of Project Organ
Question 1 Briefly explain various activities involved in project management Question 2 What is COCOMO? Write necessary steps for cost estimation Question 3 What is proj
Functional organisation In this type of organisational structure people are grouped into functional divisions such as production or marketing. Every employee reports to a super
A project manager desires a work breakdown structure that goes through 6 levels of detail. Level 3 through level 6 would most likely be prepared by
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd