6-1 Discussion

Thus, what exactly is the focus of the new paradigm for risk management? In what ways is it an improvement over the strategy that was previously used for government information technology systems?

d) Risk is defined as the uncertain event or condition that if occurs has a positive or negativeeffect on the project's objective. The project objectives can be classified into three; cost,schedule and performance. There are 5 steps on risk identification process which startfrom identification and end with monitoring.Based on these three project objectives please explain the project risk managementprocess.explain it briefly and include example

Discuss typical sources of risk in IT projects and ways to manage them. Describing how to use decision trees and Monte Carlo to assess risk

Describe with the aid of a sketch, an outline of a typical project risk record template. Include within the template an example of the data it might contain.

How does the scope of ERM compare to existing risk management approaches?

A) Which of the following is NOT included in the risk register? a. Prioritized list of quantified risks b. Potential responses to identified risks c. Revised stakeholder tolerance d. A list of identified risks B) The Responsibility Assignment Matrix (RAM) is: a. Used to identify accountabilities and responsibilities in individual performance appraisals of project team members. b. Used for development of the project budget and network diagrams. c. Developed at the activity level and used to closely link project roles and responsibilities to project network activities. d. Used to illustrate the connections between work packages or activities and project team members. It ensures that there is only one person accountable for any one task to avoid confusion of responsibility. C) The process of cost estimation is defined in which process? a. Control Cost b. Plan Cost Management c. Estimate Cost d. Budget Cost

If you are working on the project for Company ‘B’, then please write at least 6 major Risk factors, you can foresee, that may arise during the execution of the project. You are also required to recommend the risk mitigation (risk control) steps against each risk.

a) Explain with examples the differences between the following pairs of terminologies in project risk management:i.Proximity and Dormancy of a Riskii.Stakeholder Risk Threshold and Toleranceiii. iv.Variability Risk and Ambiguity RiskQualitative Risk Analysis and Quantitative Risk Analysis Risk Review and Risk Audit.b) During the execution of a project, a risk is identified by a team member. This newly identified risk is currently not in the risk register. As a project manager, list and briefly explain the steps you will take to manage this risk.c) As a project manager, you will be required to implement risk response plans for your projects. List and explain any five (5) typical outputs of this process.

As an IT Project Manager what are two issues  or project challenges unique to the IT industry that may affect the management of a vaccine rollout project.

COSO ERM 2017 is a risk management framework for analyzing an organization's prospective and existing risks and opportunities.

Managing risk in a project is the responsibility of all stakeholders. Although the potential risk cannot be eliminated, the potential risks to happen can be minimized and reduced. In an organization, risks can come from all aspects such as business, technical, market, program, or other types of risks.  1. Describe TWO types of analysis processes conducted in performing risk analysis and management.   2. List and discuss any THREE types of risk components that can be used to classify the severity level of risk categories.   3. Evaluate how organizations identify, manage, and minimize risks by adopting the use of a risk register table?

With an aid of a diagram, show the relationship between risk assessment and risk management.

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What are the potential benefits of conducting risk analysis on a project before its implementation?

It is the security team's job to assess the magnitude of residual risk and then develop a risk management plan.

The motivation of study : Why do we need a risk assessment? What are the benefits of it with respect to OHS? Roles and Responsibilities of Engineers in OHS Aim of Risk Assessment

Does a risk management project require a PM? Why or why not?

Generate a short notes on  risk management and risk management process in project implementation and control

Discuss the key steps in risk management.

Instructions  Assume that your class group has been selected and hired by the FAO to manage this FAO Funded Aquaponics Project described in the article (above). Using expressed and implied information in the article, your project team is required to craft/develop some project documents and plans to help in the overall management of the Aquaponics Project, with specific focus on the components and questions/statements listed below.  Propose an initial risk register for the Project (with a minimum of 5 risks).

Is there a distinction between the terms "risk management" and "risk assessment?"

Although project costs are generally estimated on the initial assumption that there will be no modifications in design that would necessitate changes in the physical work or relative changes in domestic or international prices, sound project planning requires that provisions called contingency allowances be made in advance for possible adverse changes in physical conditions or prices that would add to the baseline costs. Discus the two categories of contingency allowances provided for in project planning.

A project management plan is a document used to coordinate all project planning documents and to assist guide the project’s execution and control. Plans created in the other knowledge areas are the subsidiary parts of the overall project management plan and provide more detailed information about that knowledge. With regards to the above information examine the inputs into quality planning.

The chart below shows the initial investment and expected yearly payback for Project A and Project B     Project A Project B Initial Investment  $      300,000  $      450,000 Expected Yearly PayBack  $        45,000  $        90,000   For Project A, There has been a change in the expected yearly payback. Years 1 and 2 – you are expecting $45,000 each year. For the next three years, you are expecting $70,000 each year. What would be the average ROI for this alternative?

Hi can you find me 5 positives risks  following the requirements . Use the probability/impact matrix and place all risks there  For 5 risks, from different boxes, explain in detail why you think they have that level of probability and impact on the project. (use 1-2 slides) • Response strategies and specific response actions• Use the simplified risk register provided in the lecture and seminar• For 5 risks, propose a response strategy AND specific response actions for each of these. here is the work i have already done so you can follow.  Thanks in advance

Mangement  Project management is a discipline that involves planning, organizing, and overseeing the execution of a project from initiation to completion. It encompasses defining project goals, outlining tasks, allocating resources, and managing budgets and timelines. A successful project manager must possess strong leadership skills, effective communication, and the ability to mitigate risks and solve problems efficiently. Collaboration among team members is crucial, as is the flexibility to adapt to unexpected challenges that may arise during the project lifecycle. Continuous monitoring and evaluation ensure that the project stays on track, meeting objectives and delivering value to stakeholders. Question: How can project managers encourage effective collaboration and communication among team members to ensure the successful and timely completion of a project?

Projects encounter risks across its life cycle that have to be identified and responses planned for. As you identify potential project risks, you categorise them. One such category is an 'external- unpredictable risk". Which of the following is not an external-unpredictable risk? O A. Inflation OB. Unexpected environmental side effects O C. Natural hazards O D. Changes in government regulations

Provide a rundown of the five different approaches to risk management, along with a concise explanation of each one.

Identify one (1) example of a specific risk that might occur on a project to hold an outdoor sports event, and give an example of at least 3 different types of risk RESPONSE for this specific risk

Explain the concept of "project risk response strategies." How do organizations plan for and mitigate project risks during the analysis phase?

How priority to each risk can be computed? Write the mathematical expression for the same. Name the three risk containment strategies.