PM0016–Project Risk Management

Spring-2015

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Master of Business Administration- MBA Semester 4

PM0016–Project Risk Management-4 Credits

(Book ID: B2012)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. What are the different risk categories? What is Risk Breakdown Structure (RBS)?

Answer. Explain the 4 different risk categories –

• Market Risk: The risk that the value of your investment will decline as a result of market conditions. This type of risk is primarily associated with stocks. You might buy the stock of a promising or successful company only to have its market

Q2. What is Risk Opportunity and Management System (ROMS)? What are its benefits?

Answer. ROMS is a decision-optimization tool underpinned by a rigorous risk and opportunity management methodology which harnesses the knowledge and experience of your key staff and stakeholders to help you make the best decision in a wide range of business contexts.

The most important benefits in our opportunity and risk management process are:

1. Identify and assess:

Q3. List the mitigation strategies/ideas for scope risks, schedule risks and resource.

Answer. Scope risks:

A risk is defined as an uncertain event or condition that, if occurs, has a negative effect or a Positive outcome on a project’s objectives. In this reference, a scope risk can be defined as the uncertainty regarding the delivery of in-scope or

Q4. What are the sources of resource risks?

Answer. People risks Risks

People risks Risks related to people represent the most numerous resource risks, comprising almost 20 percent of the entire database and nearly two thirds of the resource category. People risks are subdivided into five subcategories:

• Loss: Permanent staff member loss to

Q5. What are different types of scope risks?

Answer. Scope Risk

Defining what is required is not always easy. However, so as to ensure that scope risk is minimized, the deliverables, the objectives, the project charter, and of course, the scope needs to be clearly defined.

All scope risks, be they quantifiable or not, needs to recognized. Scope creep, hardware defects, software defects, an insufficiently defined scope, unexpected changes in the legal or regulatory framework and integration defects

Q6. Explain the three point estimates used in quantitative risk analysis.

Answer. The three-point estimation technique is used in management and information systems applications for the construction of an approximate probability distribution representing the outcome of future events, based on very limited information. While the distribution used for the approximation might be a normal distribution, this is not always so and, for example a triangular distribution might be used, depending on the

Spring-2015

Get solved assignments at nominal price of Rs.120 each.

Mail us at: subjects4u@gmail.com or contact at

08894344452, 08894387490