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DRIVE-SPRING 2014
PROGRAM-MBADS (SEM 4/SEM 6)MBAFLEX/ MBAN2 (SEM 4) PGDPMN (SEM 2)
SUBJECT CODE & NAME-PM 0016 –PROJECT RISK MANAGEMENT
BK ID-B1345
CREDIT AND MARKS-4 CREDITS AND 60 MARKS
Q1 Write short notes on:
· Project risk management team
· Sources of project risk
· Probability and impact matrix technique of qualitative risk analysis
· Behavioural aspects of risk management
(Project risk management team , Sources of project risk, Probability and impact matrix technique of qualitative risk analysis, Behavioural aspects of risk management)10 (2.5 marks each)
Answer.
Project risk management team
The project risk management team helps to carry out risk management process. The responsibilities of project risk management team are to:
Q2 Analyse project constraints.
(Listing of project constraints, Description of the constraints, Illustration of how project constraints can be minimised) 1, 6 (2 marks each), 3(1 mark each)
Answer.
List of project constraints
· Resources
· Performance criteria
· Time
Description of the constraints
Q3 Write short notes on:
· Risk avoidance
· Cost budgeting
· Categories of project risk
· Importance of a risk register
(Risk avoidance, Cost budgeting, Categories of project risk, Importance of a risk register) 10 (2.5 marks each)
Answer.
Risk avoidance
Risk avoidance can be defined as reducing risk to the organisation through better management information or
Q4 Analyse the organisation risk issue.
(Discuss how mature organisations treat risk management, Listing of elements to risk culture in an organisation, Examination of the reasons for risk culture failure in an organisation)3,3,4
Answer.
Mature organisations treat risk management
A mature organisation does not treat risk management as a detached process, but relatively “embeds” the risk process into the complete project planning and control process. Risk is an integral part of the thinking of its key
Q5 Explain the types of change.
(Listing of the types of change, Explanation of the types of change)1,9 ( 3 marks each)
Answer.
Types of change
Different types of change require different strategies and plans to effectively gain employee engagement and acceptance of change. According to Ackerman (1997), there are three types of change that occur most frequently in
Q6 What are the tips to remove the top three project estimating risks? Explain.
(Listing of the tips, Explanation of the tips)1,9 ( 3 marks each)
Answer.
Tips to remove the top three project estimating risks with explanation
Given below are some tips to remove the top three project estimating mistakes:
Confirm all assumptions (Trust No One)
Client confusion often lands the project managers in a messy situation. Never accept a client or other project
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