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DRIVE: Summer 2016
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.What is Project Risk? Explain
different sources of project risk with examples
·
Project Risk
·
Sources of project risk
Answer:
Risk is one of
the major factors to be considered during the management of a project. Risk can
be defined as, “A probability or threat of damage, injury, liability,
loss or any other negative occurrence that is caused by external or internal
vulnerabilities and may be avoided through pre-emptive action”. In other words,
risk refers to an uncertain circumstance that can affect at least one project
objective.
A project
manager should assess risk throughout the lifecycle
Q.2: What is Risk Opportunity and
Management System (ROMS)? What are its benefits?
1. Define ROMS & list its
objectives
2. List any 4 benefits of ROMS
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
Q3. What is Project Activity Risk? Explain different Categories of Risk
with examples.
1. Meaning of Project Activity Risk
2. Different Categories of Risk
Answer:
The first step of
creating a schedule (time) management plan is to define an activity and list
the different activities involved in a
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
Q.5:
What is Scope Risk? Explain different
types of scope risks.
1. Meaning of scope risks
2. Types of scope risks Answer:
Answer:
Project
scope is the part of project planning that involves determining and documenting
a list of specific project goals, deliverables, tasks, costs and deadlines.
The
documentation of a
Q.6: Explain the three point
estimates used in quantitative risk analysis.
A. Explain the term “three point
estimates” (4 marks)
Why are they used in quantitative
risk analysis (6 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 risk impact
or effect. These are most often used for estimating the cost or schedule
effects of a project risk. They can also be used in
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/sem
if
urgent then call us on 08791490301,
08273413412
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