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DRIVE
WINTER
2014
PROGRAM
MBADS
(SEM 4/SEM 6) MBAFLEX/ MBA (SEM 4)
PGDPMN
(SEM 2)
SUBJECT
CODE & NAME
PM
0016 –PROJECT RISK MANAGEMENT
BK
ID - B2012
CREDIT
AND MARKS - 4 CREDITS AND 60 MARKS
Q1.
Describe the various type of project risks. (Discuss the FIVE types of project
risks) 10 (2 marks each)
Answer: Types
of Project Risks: As discussed in the previous section, the sources of
risk lead to potential risks that affect project deliverables. Various
types of project risks are defined on the basis of the aspect or area of
the overall project management that gets impacted.
Q2.
Explain the different types of probability distributions in risk analysis. (Discuss
the different types of probability distributions used in risk analysis, Discuss
how the probability distribution may be interpreted with respect to risk
analysis) 10
Answer: Probability
Distribution in Risk analysis: The commonly used probability distributions
in risk analysis are given below:
Normal
distribution: This
is the most basic probability distribution and is also known as “bell curve”.
It is a unique distribution that is symmetrical and has a peculiar property of
having the same mean, mode and median. Examples of normal distributions are the
curves of inflation rates and energy prices.
Q3.
How is the impact of a qualitative risk assessed? (Describe goal of impact
assessment , why it is crucial step in qualitative risk analysis, Explain the
reason for difficulty in assessing impacts with suitable examples, Describe the
approach followed in risk assessment) 10
Answer: Goal of impact assessment: Impact
assessment is a crucial step in qualitative risk analysis. The probability of
an event is not enough for analysing a risk level. Probability only tells one
how likely that event is; it tells nothing about the magnitude of the loss if
the risk event occurs. The goal of impact assessment is to assess the impact of
a risk if it occurs. The impact can be on a
Q4.
Explain the steps in risk management planning. (List the steps in risk
management planning, Discuss the steps involved in risk management planning) 10
Answer: Steps
in risk management planning: The steps in the risk management
planning are different from the steps in the risk management process.
The steps in the planning help establish and streamline the risk
management process. So, let us look at the project risk management
process steps/flow and then, look at the corresponding steps in the
planning that facilitate those. The steps
Q5.
What are the sources of schedule risk? (List the THREE categories which are the
root causes of schedule risks, Explain the sub categories under each category)
10
Answer: Sources of Schedule Risk: For managing a schedule
risk, it is important to identify the sources of the risk. In the
Introduction section, you studied the outcome of a study conducted by
Tom Kendrick, which showed the root causes of the schedule risks
documented by him in a Pareto chart. The chart showed that the schedule
Q6.
Write short notes on: 10
·
Tools
for analysing project constraints
·
Project
status report
·
Types
of project audits based on method of conducting the audit
Answer: Tools
for analysing project constraints: The analysis of constraints and
assumptions helps not only in project planning and execution but also in
identifying the potential risks if the assumptions go wrong. The
commonly used tools for identifying and analysing the risks associated
with constraints and assumptions
Get fully solved assignment. Buy online from website
online store
or
plz drop a mail with your
sub code
we will revert you within 2-3 hour or immediate
Charges rs
125/subject and rs 700/semester only.
if urgent then call us
on 08791490301, 08273413412
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