• July 21st, 2015

Case Study 4 – Risk analysis

Paper, Order, or Assignment Requirements

 

please find the below 3 questions our course book is project management in practice by mantel meredith shafer and sutton (4th edition) please use it as one of the references attached PPC Workbook for the course and Case 3 Answer 

the questions is for discussion as the following: 

Q1: Describe any experience of risk management
COLLAPSE
Do you have any experience in risk management for a project?

If “yes”, describe your experience of risk management for the project (if any), e.g., how to identify the risks, how to assess the risks, how to respond to the risks, how to monitor and control the risks.
If you didn’t have any experience for a project until now, describe some experience of risk management in your daily life.

Q2: How to identify risks
COLLAPSE
The workbook of the PPC course introduces several techniques of identifying risks, including:

(1) The use of knowledge and judgment;

(2) The use of experience and historical data;

(3) Brainstorming;

(4) Interviewing;

(5) Soft techniques;

(6) Strategic techniques;

(7) Technical/engineered system techniques.

If you are required to identify the risks of the schedule of the AEC project completed in Case 3, which approach(es) (including but not limited to the above techniques) will you use? Can you assure the project client that all schedule risks (at least all high and medium risks) will be found and no schedule risks (at least no high and medium risks) will be lost by using your approach(es)? Furthermore, try to list and discuss some schedule risks of the AEC project combined with the uncertainties shown in Case 4.

Q3:How to assess risks
COLLAPSE
(1) Does an event with “almost definite” occurrence possibility must be a “high risk” event? Please give your reasons and examples.

(2) Does an event with possible “severe” and negative impact of achieving the project aim must be a “high risk” event? Please give your reasons and examples.

(3) Describe what a “high risk” event is by using the concept of the probability/impact matrix introduced in the workbook of the PPC course?

 

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