PM0016 –Project Risk Management

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ASSIGNMENT

DRIVE	FALL DRIVE 2013
PROGRAM/SEMESTER	MBADS – (SEM 4/SEM 6) / MBAN2 / MBAFLEX – (SEM 4) / PGDISMN (SEM 2)
SUBJECT CODE & NAME	PM0016 –Project Risk Management
BOOK ID	B1345
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q1. Write a note on Process Maturity Model.

Answer : Description of Process Maturity

Process maturity is an indication of how close a developing process is to being complete and capable of continual improvement through qualitative measures and feedback. Thus, for a process to be mature, it has to be complete in its usefulness, automated, reliable in information and continuously improving.

The maturity of a process or activity can be defined to be at one of five levels, from Level 1 (the least mature) to level 5 (the most mature). The processes at higher levels also address the features of the lower levels. The ground level is Level 0 where no process exists for the activity.

Level 0 – Person-Dependent Practices: This is for cases

Q2. Explain the steps involved in performing risk analysis.10 marks(300-400) words10 marks(300-400) words

Answer : Step 1: Identify the hazards

First you need to work out how people could be harmed. When you work in a place every day it is easy to overlook some hazards, so here are some tips to help you identify the ones that matter:

·         Walk around your workplace and look at what could reasonably be expected to cause harm.

·         Ask your employees or their

·          

·          

·         Q3. Evaluate the tools used to monitor risks 10 marks(300-400) words

Answer : Below is a list of risk assessment tools available for your use:

Tool Name

Description

Q4. Explain the six risk management tools .10 marks(300-400) words

Answer : The following diagram illustrates the six steps of the risk management process: identify, analyze and prioritize, plan and schedule, track and report, control, and learn. It is important to understand that the process of managing each risk goes through all of these steps at least once and often cycles through numerous times. Also, each risk has its own timeline, so multiple risks might be in each step at any point in time.

Q5. Assess how and why change fails and analyse the reasons for resistance to change .10 marks(300-400) words

Answer : Despite the potential positive outcomes, change is nearly always resisted. A degree of resistance is normal since change is:

·         Disruptive, and

·         Stressful

Kotter and Schlesinger identified four key reasons why change is resisted:

Parochial self interest

Individuals are concerned with the implications for themselves

Q6. Analyse the event chain methodology.10 marks(300-400) words

Answer : Introduction

In the initial stages of a project, complex processes and the many risks involved makes it impossible to accurately model. A model of a project is necessary for efficient project management.

Event Chain Methodology, an improbable modelling and schedule network analysis technique, is a solution to this problem. This technique is used to manage events and event chains that influence project schedules.

It is neither a simulation nor a risky analysis method but rather works using existing methodologies such as Monte Carlo Analysis and Bayesian Believe

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Send your semester & Specialization name to our mail id :

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