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DRIVE: SPRING 2015
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
Q.1: What are the different risk
categories? What is Risk Breakdown Structure (RBS)?
A. Explain the 4 different risk
categories 8 (2 marks for each risk)
Define RBS and how it helps in
analyzing risks (2 marks)
Answer:
Explain the 4 different risk
categories:
There
are four major categories of risks. These are:
Technical, quality
or performance risks: Technical
risks are associated with a new, unproven or complex technology being used for
the project. If the technology itself is undergoing a transformation during the
implementation of a project, it also poses a significant risk. Quality risks arise
from very high or seemingly impractical or unattainable quality and performance
Q.2: What is Risk Opportunity and
Management System (ROMS)? What are its benefits?
A. Define ROMS, why was it
designed, how can it be used? (2 marks)
List its objectives (2 marks)
Describe the output of ROMS (2
marks)
List any 4 benefits of ROMS 4 (1
mark for each benefit)
Answer:
Define ROMS, why was it designed,
how can it be used:
ROMS is a risk and
opportunity management system that can be applied throughout an organisation.
This system helps in establishing a practical, integrated, systematic, rigorous
and collective approach for managing the risks and opportunities over a
business’s or project’s lifecycle. It can also be used for formulating standard
operating procedures and understanding the
Q.3: List the mitigation strategies/ideas
for scope risks, schedule risks and resource.
A. Listing of mitigation
strategies for Scope risks, (3 marks)
Schedule risks and (4 marks)
Resource risks. (3 marks)
Answer:
Scope risks:
A risk is defined as
an uncertain event or condition that, if occurs, has a negative effect or a
Positive outcome on a project’s objectives. In this reference, a scope risk can
be defined as the uncertainty regarding the delivery of in-scope or any other
elements listed in the project scope statement.
Another way to view
Q.4: What are the sources of
resource risks?
A. Explain the sources of
People risks (4 marks)
Outsourcing risks (3 marks)
Money risks (3 marks)
Answer:
People risks:
Risks related to
people represent the maximum risks (by count) in the PERIL database, accounting
for more than two-thirds of the total risk incidents. The sources of people risks
can be divided into two main categories, which are as follows:
Q.5: What are different types of
scope risks?
A. List the types of scope risks
(1 marks)
Explain the 3 scope risks 9 (3
marks for each risk)
Answer:
List the types of scope risks:
The different types
of scope risks are discussed as follows:
ü
Scope creep
ü
Scope gap
ü
Scope dependency
ü
Defect
Explain the 3 scope risks:
Scope cree
Q.6: Explain the three point
estimates used in quantitative risk analysis.
A. Explain the term “three point
estimates” (2 marks)
Why are they used in quantitative
risk analysis (4 marks)
How is it different from PERT
distributions (4 marks)
Answer:
Explain the term “three point
estimates”:
Three-point estimates
describe three scenarios (pessimistic, base case and optimistic) and thus, help
in considering different outcomes and their impacts. Three-point estimates
provide a simple means of representing the magnitude and range of a
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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