List the steps in risk management.

Which 10 risks are related to IT project management?

Suppose you are a project manager of a power plant project and there is a penalty in your contract with the main client for every day you deliver the project late. You need to decide which sub-contractor is appropriate for your projects critical path activities. But while selecting a sub-contractor, you should take into consideration the costs and delivery dates. • Sub-contractor A bids 200,000 OMR. You estimate that there is a 35% possibility of completing 50 days late. As per your contract with the client, you must pay a delay penalty of 4,500 OMR per calendar day for every day you deliver late.• Sub-contractor B bids 260,000 OMR. You estimate that there is a 13% possibility of completing 15 days late. As per your contract with the client, you must pay a delay penalty of 4,500 OMR per calendar day for every day you deliver late. Determine which sub-contractor is appropriate for your projects critical path activities. Both sub- contractors promise successful delivery and high-quality…

Case Study The South-to-North Water Diversion Project in China is the largest of its kind ever undertaken. The project involves drawing water from southern rivers and supplying it to the dry north. This massive scheme has already taken 50 years from conception to commencement and is expected to take almost as long to construct. Planned for completion in 2050, it will eventually divert 44.8 billion cubic metres of water annually to the population centres of the drier north. When finished, the work will link China's four main rivers - the Yangtze, Yellow River, Huaihe and Haihe - and requires the construction of three diversion routes, stretching south-to-north across the eastern, central and western parts of the country. The complete project is expected to cost $62bn - more than twice as much as the country's controversial Three Gorges Dam.