Test Bank

3.4 summarise the types of risks that may be involved in assessment in own area of responsibility.

risks and determine the likelihood and consequence of that risk occurring during the project. The

3. What is (are) the critical path(s) in the project? What is the level of risk in completing tasks on the critical path(s)? Explain.

13. The marketing manager needs to know the cost of the research project before approving it. During which stage of the marketing research process would such a consideration most likely take place?

Identify a minimum of 10 project risks and when each will occur in the project life cycle, and then determine their impact and probability of occurrence.

3.4 Summarise the types of risks that may be involved in assessment in own area of responsibility

VI. You must have an in-depth explanation of how these could achieve the aims and objectives of your business proposal.

| Major risks that hinder the success of the project are based around the timeline. All micro projects and milestones are consecutive to each other. The largest variable within risk mitigation is the exterior construction. Risks can include but limited to: varance permits, weather, protesting, funds allocation, war, loss of materials, and human hazards and lawsuits/safety

Therefore, the risk process places a high emphasis on risk workshops, initial risks, and how risks are identified throughout the course of the project. The next two sections describe different methods of identifying risks.

Many risks are interrelated. Analyze the following compound risk: Unstable requirements with tight budget will likely cancel the project. Discuss the dependencies that exist between the two risks.

3. Develop at least three (3) project risk recommendations based on the analysis from criteria number 1 and 2 of this assignment.

* Briefly explain in your own words the relationship between each element of the triple constraint of project management. Then, determine whether or not you believe it is important to understand the triple constraint to be an efficient project manager. Justify your response.

3. Change leads to risk, and some significant changes have occurred. Which of these changes lead to the greatest risk?

Determining the level of risk should be broken down into 4 categories: low, medium, high or very high. A consequences scale should also be created. Different levels of risk bring on different level of consequences.

Below we will address each risk as well as explain why we think each risk is important to consider when implementing a project.