Instructions: Each question has to be; coherent and cohesive, a minimum of 200 words and you have to cite one sources. Make sure you number each answer that goes with the question. This is a Project Risk Management Course
· 1. List the elements in the process of selecting and developing effective risk treatments.
· 2. Describe the broad categories of actions that may be useful in treating risks.
· 3. Identify five possible strategies that could affect the likelihood and five that could affect the consequences of a risk.
· 4. Compare and contrast risk-sharing and risk-retention strategies. Why would an organization retain risks?
· 5. Describe how risks with positive consequences, or positive deviations from what is planned, can be identified and exploited in just the same way as risks with negative consequences.
· 6. What makes the identification of risks with positive consequences a challenge in a structured brainstorming workshop? What can be done to improve the outcomes?
· 7. What are the advantages and disadvantages of using ‘mirror-image scales’ in capturing potential outcomes with negative consequences and those with positive consequences?
· 8. Rather than leave it to chance, how could a manager exploit residual opportunities?
· 9. List the broad objectives of managing risk in projects.
· 10. Describe the seven risk management process steps and the management questions that go along with them.
· 11. List the steps in the risk analysis and evaluation process.
· 12. Describe the stakeholder involvement in the risk management process.
· 13. What is the importance of communication within the project management team
· 14. What is the purpose of risk treatment within project management planning?
· 15. Define and give examples of project risk.
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