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Eagle Project Risk Analysis

Satisfactory Essays
What risk management and procurement tools and techniques have you used prior to taking this course?
Prior to the class, some of us have never used and risk management and procurement tools and techniques while others have used brainstorming, negotiating, and checklists used for risk analysis.
Describe the real-world project management examples of when you would use one or more of the tools and techniques.
When ordering a product or service reviewing the contract to know what is received, possible warranty, or contract return policies if not satisfied. For the Eagle Project a lot of time was spent on assessing risks. For example, a risk highlighted was some people’s lack of experience using hand tools. The risk was mitigated by first doing quick group briefer on proper tool use and then ensuring that each work group had experienced leaders. If merchandise needed to be delivered by a certain date, verifying the delivery date would be a critical control point for ordering the product. The tools and techniques can also be utilized
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For example, in the building alterations, the tasks and the cost could be outlined with a quantitative modeling method. As well as a qualitative method, that includes a matrix, which will assist in developing risk responses that will be effective in mitigating possible risk. When a part was needed for a project deciding if it would be more economical to purchase or make the part. When presented with numerical data with cost, life cycle, and maintenance cost for up keep on two or more products that achieve the same goal. A risk management plan could be used to help access and handle project related risks. As for the risk tree, it could be used to help the project team decide on what the best option is for a task by giving a visual representation of the if then relationships in terms of
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