(2) In the context of project management, why is it important to manage risks?
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- Which 10 risks are related to IT project management?the significance of project stakeholder needs to project risk managers.You have been tasked to conduct an urgent risk assessment for a short‐term, yetcritical project affecting the whole organisation, and the FRAAP approach has beenprescribed to the team. Defend the decision of prescribing the FRAAP approach.
- Choose 10 dangers that are connected to the management of IT projects.What is project risk management, and what are the necessary measures, and what are they?How to Plan, direct and coordinate IT projects to ensure effectiveproject control including scope changes and project risks?Create a risk matrix for this project:Event Cost ($000) ProbabilityEquipment breakdown 40 .20Vendor is late with key segment 200 .60Subcontractor has labor issues 140 .30Weather problems 15 UnknownFunding delays 50 .40 to .60Testing delays 20 .40Explain your reasoning for your placement of the events Weather problems and Funding delays.
- 5. Why is the implementation of projects important to strategic planning?Appraise the project risk management process that could have been prudently adopted for the case study project that couldhave averted the risks during the lifecycle of the project.How can you determine the appropriate SPI approach for your business and project? What are its pros and cons?
- b) As a Project Engineer, cost control is one of the areas that is pertinent to project budget. When project cost is over-run against project budget, what will be the challenges as an engineer that you will be to be concerned? Please list down 3 concerns and elaborate on your answers. (CO1, C4)In project management why is float important?How do "scoped packages" in npm enhance project organization and privacy?