PM0016 –PROJECT RISK MANAGEMENT

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ASSIGNMENT

DRIVE	SUMMER  2015
PROGRAM	MBADS (SEM 4/SEM 6) MBAFLEX/ MBA (SEM 4) PGDPMN (SEM 2)
SUBJECT CODE & NAME	PM0016 –PROJECT RISK MANAGEMENT
BK ID	B2012
CREDITS AND MARKS	4 CREDITS AND 60 MARKS

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.

1.  Explain the types of project risks.

Answer: Project risks are the exposure to a company that arises from taking on a particular task. A project risk can be internal to the business, it can involve external events or it can stem from any other circumstances that can hamper the project's overall success and result in loss or embarrassment to the firm undertaking it. 

1. Executive Support: Wavering, inconsistent or weak

2. What are the four quadrants of the risk probability and impact matrix?

Answer: A common problem in project risk management processes is the need to determine the relative significance of different sources of risk so as to guide subsequent risk management effort and ensure it remains cost effective.

A common approach is to rank risks in terms of probability and impact to identify sources of risk which will receive the most attention. This paper examines the shortcomings of this technique in guiding the analysis and management of risks and

3.  What are the outputs of a qualitative risk analysis?

What are the key inputs used in risk planning?

Answer:  Outputs from Qualitative Risk Analysis

.1 Overall risk ranking for the project. Risk ranking may indicate the overall risk position of a project relative to other projects by comparing the risk scores. It can be used to assign personnel or other resources to projects with different risk rankings, to make a benefit-cost analysis decisison about the project, or to support a recommendation for project initiation, continuation, or cancellation.

.2 List of prioritized risks. Risks and conditions

4.  What are the sources of schedule risk?

Answer: Schedule risks are the Exposure to loss from a program not meeting its scheduled objectives.  Schedule risks are the most numerous in the Project Experience Risk Information Library (PERIL) database, representing well over a third of the records. They fall into three categories: delays, dependencies, and estimates. Delays occurred whenever something expected by the project—a part, a decision, a piece of information—was late. Schedule dependency risks relate to unanticipated linkages or missing inputs that

5.  What are the different tools used for analysing project constraints?

How does SWOT analysis help in project management?

Answer: A constraint, in project management, is any restriction that defines a project's limitations; the scope, for example, is the limit of what the project is expected to accomplish.

The three most significant project constraints -- schedule, cost and scope -- are sometimes known as the triple constraint or the project management triangle. A project’s scope involves the specific goals, deliverables and tasks that define the boundaries of the project. The schedule (sometimes stated more broadly as time) specifies the timeline

6.  Explain project review.

Answer: A Project Review is an assessment of the status of a project, at a particular point in time. The first time in the project life cycle that a project review is undertaken is at the end of the first project phase, called "Initiation". During this project review, a decision is made as to whether or not the team has met the objectives and is approved to proceed to the next project phase, being the "Planning" phase. Performing a project management review at the end of each phase is critical to the success of the project, because it allows the

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

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or

Call us at : 08263069601