EBK OM
6th Edition
ISBN: 9781305888210
Author: Collier
Publisher: YUZU
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Chapter 18, Problem 2DQ
Summary Introduction
Interpretation: The list of impediments to project success is to be discussed along with the ways to minimize these impediments.
Concept Introduction:
A project is a specific type of process having some unique features. The project is breaked down in several small unit of tasks known as activities. The start and end of each activities is an event of the project.
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Describe an alternative approach to consider risk in a project evaluation?
‘Management of Risk is key to successful Project Management’. Discuss the merits of this statement, using an example to illustrate.
Give Example/s to illustrate
Project Scope Management
Khan, (2006) (see below) states that, "Managing the scope of a project is the most important function of a project manager ... Effective scope management of a project also ensures the success of key completion areas, including time, cost, and quality.
Project scope management can be further subdivided into its components which include: project initiation, scope planning, scope definition, scope verification, and scope change control."
Based on your Integrated Project:
Select two of the subdivisions above and discuss the primary issues that could arise from the process.
Your response should begin with a definition of the selected subdivision before detailing the selected process
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- A tool for assessing and managing risks is a risk assessment matrix (RAM), also referred to as a risk register, which includes potential risks, their potential impact, likelihood of occurrence, and response plan. Fully construct a RAM using two application examples Describe any project of your choice; then provide three examples of what risks you as the project manager could face.arrow_forwardDefine risk as it applies to projects. What are the major sources of risk in a project?arrow_forwardCritically analyse the various techniques that an organization might take to identify potential risks in a project.arrow_forward
- In the context of project management, provide an example to explain how positive risks could be addressed.arrow_forwardProvide an example to illustrate how positive risks may be managed in the context of project management.arrow_forwardmagine that you have been given the opportunity to act as project manager for a hospital. You have a decision to make regarding the following projects: Streamlining new patient documentation Training of all incoming personnel on the newly implemented quality and safety program Increasing access to the dining hall that is currently used by only one ward Which of the projects above would you begin first, how should risk be identified during your project, and what are the most important risks you could envision?arrow_forward
- Instructions Assume that your class group has been selected and hired by the FAO to manage this FAO Funded Aquaponics Project described in the article (above). Using expressed and implied information in the article, your project team is required to craft/develop some project documents and plans to help in the overall management of the Aquaponics Project, with specific focus on the components and questions/statements listed below. Propose an initial risk register for the Project (with a minimum of 5 risks).arrow_forwardBeing a Project Manager, Identify all the possible risk (External & Internal) that one can face while working on the Road Project.arrow_forwardWith the use of a diagram, show (illustrate) the typical levels of project staffing related to each phase and throughout a project With the use of a diagram, show (illustrate) the typical levels of uncertainty or project risks associated with each phase and throughout a project.arrow_forward
- Project Typhoon has a net present value of $10,000 and a profitability index of 1.01. Project Cyclone has a net present value of $10,000 and a profitability index of 1.10. Project SurfsUp has a net present value of $10,000 and a profitability index of 1.05. If only one project could be undertaken, what should the oraganiztion select?arrow_forwardIdentify any 10 risks connected with IT project management. Define project risk management and sketch out the main steps required.arrow_forwardWhat roles do traditional process management duties of planning, organizing, and controlling play in project management?arrow_forward
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