Please fill in the missing fields Risk Management PlanRiskImpactProbability ofOccurrenceHighLowMedium MediumLowLowRiskScore Risk Description/Project ImpactMap| EXAMPLE: Current project skill setmay not be adequate to complete allproject work. The current developmentteam has been working in a Windows 2kenvironment, and the currentrequirements are for a LINUXenvironment. The project schedulewould require 1500 development hoursof a skilled LINUX operator, andapproximately 1900 to 2200 if we retrainour current resourcesEXAMPLE: If required skills are notidentified or obtained, projectRisk AreaScopeCostScheduleRisk ResponseStrategyMitigationResponse StrategyEXAMPLE: Find internal resource thatmeets required skill set or train existingresources on LINUX.Contingency Plan|EXAMPLE: Find resource that meetsrequired skill set through external hiring sources.

Meaning:- A Risk management plan outlines how to identify , assess, prioritized and respond to…

Answered: Risk Management Plan Probability of…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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All of the following statements about contingency and management reserves are true EXCEPT:multiple choice Contingency reserves are established to cover identified risks. Contingency and management reserves are dependent on each other. The management reserve applies to the total project. The management reserve covers unforeseen risks. If a risk does not materialize, funds pertaining to that risk are removed from the contingency reserve.
No need generalized answer ok need Correct Solution. PM.348.WC1 Project Risk Management Pls. answer this ;( INSTRUCTIONS Create a “starter” risk register using EXCEL for the two projects (A and BB described below. Include at least 6 risks for project A and at least 8 risks for project B. Project A Description Building a garden shed. This includes the design of the shed, sourcing all the materials required for construction, and putting all of the various pieces together to get the finished shed. Outcome A finished garden shed. Proposed Tasks There are going to be certain tasks that depend on others. You’re going to need to: • Get a set of blueprints for the shed and clear and prepare the area for construction • Source all of the materials for the construction • Prepare the foundation and start constructing the beams of the floor • Lay the floorboards • Construct the frames of the walls and raise and fit each of them • Frame the roof and attach the roofing • Fit in all the siding for…
Consider an investment project with the following cash flows: N Cash Flow 0 -$5,0001 $02 $4,8403 $1,331ComputcthelRRforthisinvestment.lsthisprojectacceptablcatMARR = 10%?
Rollo Megabux has $1 million to invest in stocks orbonds. The percentage yield on each investment during thecoming year depends on whether the economy has a goodor a bad year (see Table 17). It is equally likely that theeconomy will have a good or a bad year.a If Rollo is risk-neutral, how should he invest hismoney?b For $10,000, Rollo can hire a consulting firm toforecast the state of the economy. The consulting firm’sforecasts have the following properties:P(good forecast|economy good) .80P(good forecast|economy bad) .20Should Rollo hire the consulting firm? What are EVSIand EVPI? Economy EconomyHas Good Has BadYear YearYield on stocks 22% 10%Yield on bonds 16% 14%
A company is considering a new product launch. There is a 0.6 chance that demand for the product will be strong and a 0.4 chance that demand will be weak. Two strategies for the launch are possible: 1 has high promotion costs and a net cash outflow of K120 000 if demand proves to be strong, and if demand proves weak a net cash outflow of (K30 000) will result. Strategy 2 has low promotion costs and if demand is strong will generate a cash inflow of only K80 000 but with weak demand a net cash inflow of K20 000. Draw a decision tree and advise which course of action generates the greatest expected profit. What is the maximum amount that should be paid for market research to determine with certainty whether demand will be strong or weak?
A goldsmith makes two types of jewelry. A model A ring is made with 1 g of gold and 1.5 g of silver and sells for 25 UM.Another model B ring sells for 30 UM and is made of 1.5 g of gold and 1 g of silver. If you only have 750 gof each metal, how many rings should be made of each type to obtain maximum profit?Requested:- Make Initial Table of the problem.- Obtain the Case Variables- Obtain the Objective Function- Get Restrictions- Create the Simplex Table- Obtain the Optimal Solution and the Slack Variables.Solve this operational research exercise.
A start-up company, Macrotech, plans to produce a device to translate Morse codeto a written message on a home computer and to send written messages in Morsecode over the airwaves. The device is primarily of interest to ham radio enthusiasts. The president, Ron Lodel, estimates that it would require a $30,000 initialinvestment. Each unit costs him $20 to produce and each sells for $85.a. How many units must be sold in order for the firm to recover its initialinvestment?b. What is the total revenue at the break-even volume?c. If the price were increased to $100 each, find the break-even volume.
A company is considering a new product launch. There is a 0.6 chance thatdemand for the product will be strong and a 0.4 chance that demand will beweak. Two strategies for the launch are possible: 1 has high promotion costs anda net cash outflow of K120 000 if demand proves to be strong, and if demandproves weak a net cash outflow of (K30 000) will result. Strategy 2 has lowpromotion costs and if demand is strong will generate a cash inflow of only K80000 but with weak demand a net cash inflow of K20 000. i. Draw a decision tree and advise which course of action generates thegreatest expected profit. ii. What is the maximum amount that should be paid for market research todetermine with certainty whether demand will be strong or weak?
Private Insurance provides coverages that can be used to meet specific loss situations. For each of the following insurance situation, identify a private insurance coverage that would provide the desired protection and explain your recommendation; A. John, 32, single parent with 1 dependent child. He recently purchased a house worth PhP 5 million, where half of this amount is mortgaged loan (PagIBIG). He wants to be certain that he would be able to pay his loan in case of disability. B. Rey, 36, married with 3 dependents. His wife is a disabled person and is unable to work. As the sole breadwinner, he wants to be sure that his family would have funds in case of his premature death. C. Marian, 44, owns a trading shop. The premises are rented. The total amount value of goods in her shop amounts to PhP 7 million. She has no savings. She wants to be certain she will be able to run her business if her shop catches fire and other loss. D. Dominic, 15, a talented motor racer. However, his…
Mono Industries has a project with the following projected cash flows: Initial Cost, Year 0: P200,000 Cash flow year one: P25,000 Cash flow year two: P75,000 Cash flow year three: P150,000 Cash flow year four: P150,000 Using a 10% discount rate for this project and the NPV model, should this project be accepted or rejected?
Suppose you are going to receive $20,000 per year forfive years. The appropriate interest rate is 7 percent.a. What is the present value of the payments if they are in the form of an ordinaryannuity? What is the present value if the payments are an annuity due?b. Suppose you plan to invest the payments for five years. What is the future valueif the payments are an ordinary annuity? What if the payments are an annuitydue?c. Which has the highest present value, the ordinary annuity or annuity due? Whichhas the highest future value? Will this always be true?
George is married and he is 62 years old. His wife Maria is 59 years old. They have 2 children: Robert, age 31, and Clare, age 27. Both are financially independent. Both George and Maria are considering retirement and they want to have a meeting with their financial adviser to discuss their options. Both have a Medium Attitude to Risk and they have high capacity for Loss. George has a defined contribution pension plan from his work. It is currently worth £1.3mn and he can access this pension when he turns 55. Maria has a Defined benefits pension from her work, and she can access it from the age of 65. Her final salary will be £2k per month and its value will go up with inflation. They have no mortgage or other liabilities. They want to have a nice lifestyle during their retirement and do some extra travelling. They expect that they will need approximately £4k per month to live on. They even consider buying a small holiday property in Spain for approximately £250,000. Please explain to…

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