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DRIVE-SPRING
2014
PROGRAM-MBADS
(SEM 4/SEM 6)MBAFLEX/ MBAN2 (SEM 4) PGDPMN (SEM 2)
SUBJECT
CODE & NAME-PM 0016 –PROJECT RISK MANAGEMENT
BK
ID-B1345
CREDIT
AND MARKS-4 CREDITS AND 60 MARKS
Q1
Write short notes on:
·
Project risk management team
·
Sources of project risk
·
Probability and impact matrix
technique of qualitative risk analysis
·
Behavioural aspects of risk
management
(Project
risk management team , Sources of project risk, Probability and impact matrix technique of
qualitative risk analysis, Behavioural
aspects of risk management)10 (2.5 marks each)
Answer.
Project
risk management team
The project risk management team
helps to carry out risk management process. The responsibilities of project
risk management team are to:
Q2
Analyse project constraints.
(Listing
of project constraints, Description of the constraints, Illustration of how
project constraints can be minimised) 1, 6 (2 marks each), 3(1 mark each)
Answer.
List
of project constraints
·
Resources
·
Performance criteria
·
Time
Description
of the constraints
Q3
Write short notes on:
·
Risk avoidance
·
Cost budgeting
·
Categories of project risk
·
Importance of a risk register
(Risk
avoidance, Cost budgeting, Categories of project risk, Importance of a risk
register) 10 (2.5 marks each)
Answer.
Risk
avoidance
Risk avoidance can be defined as
reducing risk to the organisation through
better management information or
Q4
Analyse the organisation risk issue.
(Discuss
how mature organisations treat risk management, Listing of elements to risk
culture in an organisation, Examination of the reasons for risk culture failure
in an organisation)3,3,4
Answer.
Mature
organisations treat risk management
A mature organisation does not
treat risk management as a detached process, but relatively “embeds” the risk
process into the complete project planning and control process. Risk is an
integral part of the thinking of its key
Q5
Explain the types of change.
(Listing
of the types of change, Explanation of the types of change)1,9 ( 3 marks each)
Answer.
Types
of change
Different types of change require
different strategies and plans to effectively gain employee engagement and
acceptance of change. According to Ackerman (1997), there are three types of
change that occur most frequently in
Q6
What are the tips to remove the top three project estimating risks? Explain.
(Listing
of the tips, Explanation of the tips)1,9 ( 3 marks each)
Answer.
Tips
to remove the top three project estimating risks with explanation
Given below are some tips to
remove the top three project estimating mistakes:
Confirm all assumptions (Trust No
One)
Client confusion often lands the
project managers in a messy situation. Never accept a client or other project
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