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DRIVE
Winter
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
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
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
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 analyzing 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 stepson the planning that facilitates 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
Q6.
Write short notes on: 10
·
Tools
for analyzing project constraints
·
Project
status report
·
Types
of project audits based on method of conducting the audit
Answer:
Tools for analyzing 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 andanalysing the risks associated with
constraints and
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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