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PROJ 595 Proj Risk Management Week 7 Risk Paper 2 Answer

PROJ 595 Proj Risk Management Week 7 Risk Paper 2 Answer

PROJ 595 Proj Risk Management Week 7 Risk Paper 2 Answer

Risk Paper 2
Risk Paper 2 is due this week.
Write a two- to four-page paper that describes an event in the past from either your personal or professional life in which you used a contract. Answer the following questions.
1. How did assumption of risk play a part in the type of contract used?
2. What type of contract was finally settled upon in this situation?
3. Was this type of contract appropriate for this situation or was there a better type that should have been used?
4. Did the type of contract impact the success of the project?
You must use references to support your conclusions. Remember to cite and reference any sources that were used in the comparison and contrast. At a minimum, students should connect this assignment back to the text and support their decision-making process with key concepts from the text. You are also welcome to use any of the checklists from the text to support the decision-making process.

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PROJ 595 week 7 Risk Paper2

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PROJ 595_Project Risk Management_Week 6_Course Project_Part I and II_Answer

PROJ 595_Project Risk Management_Week 6_Course Project_Part I and II_Answer

PROJ 595_Project Risk Management_Week 6_Course Project_Part I and II_Answer

Course Project Part I
For this project, you may choose a project that is of interest to you, or you may choose to begin planning for your senior project. When selecting a project, avoid picking one that is either too big or too small. For example, do not decide to build a new stadium for your local sports team (too big) or to plant your summer garden (too small).
1. Create a risk management plan for your project. To do this, you must create a scope and a WBS for your project.
2. Perform risk management planning as defined in the lecture.
3. Identify risks for your project, including any issues that may impede or impair the completion of the project. You must identify at least 15 positive and 15 negative risks.
4. Prioritize the risks by performing qualitative risk analysis.
5. Perform risk response planning for your project by creating detailed risk response plans for those risks needing responses. This should include both proactive responses and reactive contingency plans as appropriate.
Sample Outline of Typical Course Project Paper Part I
I. Title Page
II. Table of Contents
III. Introduction
IV. Risk Management Planning
V. Risk Identification
VI. Qualitative Risk Analysis
VII. Risk Response Planning

Course Project Part II

Create one decision tree and a fault or event tree that would support the exploration of risk for one of the above projects. The decision tree must be created to support a major risk-related decision likely to be faced by the project. The fault or event tree should offer at a minimum a listing of potential risks and impacts in the event of two smaller failures. For example, a smaller failure could be the loss of water pressure or a fire in a construction project rather than examining what risk was involved with the collapse of the construction project.
Write a discussion of the risks that supports the fault tree, event tree, or decision tree that has been created. Make a separate write up for each of these smaller risks associated with the fault tree or event tree. Your paper should have a general introduction that should introduce the decision tree and fault or event trees that will be discussed, and then the paper should have a discussion regarding each tree. The discussion write-up regarding the identified risks should be from three to five pages in length. Note that this page length is a guideline and if you find that your paper supporting the risk tree is longer, there will be no penalty, because the final assignment will need to be from 15–20 pages in length.
Sample Outline of Typical Course Project Paper Part II
1. Course Project Part I
2. Introduction
3. Decision Tree Analysis
4. Discussion of Decision Tree
5. Fault Tree
6. Discussion of Fault Tree
7. Conclusions
8. Works cited
The goal of the final project is to select a project and then to create and detail a risk management plan that would support that project. The final deliverable will consist of a fully formed risk management plan that would support such a project.
• The Course Project is broken down into two parts. The first part is due by the end of Week 4 and will be eight to 12 pages long. The final major assignment will be 15–20 pages long, including the original eight to 12 pages, and is due by the end of Week 6.
• Papers must be in 10-point font, double-spaced, and must include a cover page, table of contents, introduction, body of the report, summary or conclusion, and works cited.
• Even though this is not a scientific-type writing assignment, and is mostly creative in nature, references are still very important. At least six authoritative, outside references are required (anonymous authors or web pages are not acceptable). These should be listed on the last page, titled Works Cited.
• Appropriate citations are required.

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PROJ 595 week 6 Course Project Part I and II

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PROJ 595_Project Risk Management_Week 5 Quiz A+ Answer

PROJ 595_Project Risk Management_Week 5 Quiz A+ Answer

PROJ 595_Project Risk Management_Week 5 Quiz A+ Answer

1. (TCO A) A stakeholder analysis in risk management (Points : 5)
identifies project stakeholders.
obtains stakeholder tolerance for a given project.
determines how best to manage a given stakeholder in a project.
determines how often to meet with a given stakeholder.

Question 2. 2. (TCO A) When using the ATOM process to manage risks, an initiation meeting should be used for (Points : 5)
all projects.
small and medium projects.
complex projects.
medium and large projects.

Question 3. 3. (TCO B) All of the below are risk identification methods, except (Points : 5)
Ishikawa diagrams.
process flow diagrams.
SWOT.
residual risk diagrams.

Question 4. 4. (TCO D) In risk response planning, which is the difference between active and passive acceptance? (Points : 5)
Using passive acceptance, risk responses are created.
Using active acceptance, secondary risks are created.
Using passive acceptance, contingency plans are created.
Using active acceptance, contingency plans are created.

Question 5. 5. (TCO E) A common tool for use in risk monitoring and control is (Points : 5)
scope compression.
activity on the node.
quality control.
earned value measurement
Question 6. 6. (TCO H) When using the ATOM process to manage risks, which is the importance of an initiation meeting? (Points : 5)
To determine how much of the risk management process to employ for a project
To determine the stakeholder tolerance for quality issues
To determine how many contractors to employ on a given project
To determine the proper risk responses for a given project

Question 7. 7. (TCO A) When is a risk register created? What is its importance of a risk register to a project? (Points : 10)

Question 8. 8. (TCO B) You are the project manager for a major technological project. You are concerned about doing qualitative risk analysis. How do you ensure consistency when doing qualitative risk analysis across all risk evaluators? (Points : 15)

Question 9. 9. (TCO D) Explain transference as a risk response strategy, and provide an example of its use in a project. (Points : 15)

Question 10. 10. (TCO E) What is the purpose of performing reserve analysis during the risk management process? (Points : 15)

Question 11. 11. (TCO H) You are in a status meeting with key project stakeholders. You are discussing residual and secondary risks in your project. The key stakeholders ask for an explanation and example of each. How would you describe each? Provide an example of a residual and a secondary risk. (Points : 15)

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PROJ 595 week Quiz

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PROJ 595 Project Risk Management Week 4 Part 1 Course Project Answer

PROJ 595 Project Risk Management Week 4 Part 1 Course Project Answer

PROJ 595 Project Risk Management Week 4 Part 1 Course Project Answer

Course Project Part I
For this project, you may choose a project that is of interest to you, or you may choose to begin planning for your senior project. When selecting a project, avoid picking one that is either too big or too small. For example, do not decide to build a new stadium for your local sports team (too big) or to plant your summer garden (too small).
1. Create a risk management plan for your project. To do this, you must create a scope and a WBS for your project.
2. Perform risk management planning as defined in the lecture.
3. Identify risks for your project, including any issues that may impede or impair the completion of the project. You must identify at least 15 positive and 15 negative risks.
4. Prioritize the risks by performing qualitative risk analysis.
5. Perform risk response planning for your project by creating detailed risk response plans for those risks needing responses. This should include both proactive responses and reactive contingency plans as appropriate.
Sample Outline of Typical Course Project Paper Part I
I. Title Page
II. Table of Contents
III. Introduction
IV. Risk Management Planning
V. Risk Identification
VI. Qualitative Risk Analysis
VII. Risk Response Planning

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PROJ 595 week 4 Part 1 Course Project

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PROJ 595 Proj Risk Management Week 3 Risk Paper 1 Answer

PROJ 595 Proj Risk Management Week 3 Risk Paper 1 Answer

PROJ 595 Proj Risk Management Week 3 Risk Paper 1 Answer

Write a two- to four-page paper regarding a project, either real or fictitious, where one is able to discuss how risks were identified, ranked, and monitored. The student is also welcome to write about a major purchase or major decision in his or her life, such as buying a new car, buying a new home, or even the decision to return to school to earn a degree. All of these are considered projects or procurements that require some form of formal or informal risk review.
Remember to cite and reference any sources that were used in the project or in the decision-making process. At a minimum, students should connect this assignment back to the text and support their decision-making processes with key concepts from the text. One of the elements of this assignment is to connect the material from the course to actual risk decisions. You are also welcome to use any of the checklists from the text to support the decision-making process.

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PROJ 595 week 3 Risk Paper 1

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PROJ 595 Proj Risk Management All Weeks Discussion Question Answer

PROJ 595 Proj Risk Management All Weeks Discussion Question Answer

PROJ 595 Proj Risk Management All Weeks Discussion Question Answer

PROJ 595 Proj Risk Management All Weeks Discussion Question Answer

PROJ 595 Proj Risk Management All Weeks Discussion Question Answer

For getting the instant digital download solution, Please click on the “PURCHASE” link below to get PROJ 595 Proj Risk Management All Weeks Discussion Question Answer

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PROJ 595 All Weeks

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PROJ 595 Proj Risk Management All Weeks Discussion Questions Couse Project Risk Paper Quiz Final Exam A+ Answer

PROJ 595 Proj Risk Management All Weeks Discussion Questions Couse Project Risk Paper Quiz Final Exam A+ Answer

PROJ 595 Proj Risk Management All Weeks Discussion Questions Couse Project Risk Paper Quiz Final Exam A+ Answer

PROJ 595 Proj Risk Management All Weeks Discussion Questions Couse Project Risk Paper Quiz Final Exam A+ Answer

PROJ 595 Proj Risk Management All Weeks Discussion Questions Couse Project Risk Paper Quiz Final Exam A+ Answer

For getting the instant digital download solution, Please click on the “PURCHASE” link below to get PROJ 595 Proj Risk Management All Weeks Discussion Questions Couse Project Risk Paper Quiz Final Exam A+ Answer

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PROJ 595 All Weeks

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PROJ 595_Project Risk Management_Week 8 Final Exam Complete A+ Answer

PROJ 595_Project Risk Management_Week 8 Final Exam Complete A+ Answer

PROJ 595_Project Risk Management_Week 8 Final Exam Complete A+ Answer

Set 1

Question 1. (TCOs A and B) An EVM analysis employs which factors to evaluate risks? (Points : 5)
Risk and impact
Probability and urgency
Impact and probability
Decision trees and reliability of data

Question 2. (TCO G) You have completed all design drawings and have a complete scope for your project. You need to hire a contractor to build the product to your designs. Which type of contract would be best in this situation? (Points : 5)
FPEPA
T&M
CPIF
FP
Question 3. (TCO D) In which risk response strategy is the responsibility for the risk moved to a third party? (Points : 5)
Transference and sharing
Exploitation and avoidance
Acceptance and enhancement
Mitigation and active acceptance

4. (TCOs A and B) You have been appointed as a project manager for a high-dollar project for a government agency, and you have been asked by your boss to identify the stakeholder groups and the individuals who make up those groups in order to start the stakeholder analysis. Identify at least six groups of stakeholders and the individuals who comprise those groups, and explain when the stakeholder identification process should take place during the planning of the project. (Points: 20)

5. (TCO B) Due to globalization within your industry, you have been appointed as the project manager for an R & D project. Your task is to create a new technologically advanced solar cell. You want to employ the PMBOK® Guide risk management process. Senior management would like you to briefly describe the process and all its steps. Please create a short briefing for senior management below. (Points : 40)

6. (TCO I) You are the project manager on a critical project for your corporation. You have decided to employ fault-tree analysis on your project. What is fault-tree analysis, and how can it be applied to your project? (Points : 25)

7. (TCO H) Senior management is concerned about risk owners on your project. What is the role of a risk owner in the risk management process? (Points: 20)

8. (TCO F) You are a project manager for a large healthcare R & D project. Senior management has asked you to utilize a sensitivity analysis and a tornado diagram to quantify risks on your project. Senior management’s major concern is the price of raw materials in the development of the new drug. Describe how to perform a sensitivity analysis and use a tornado diagram to quantify risks to your project. (Points : 25)

9. TCO G) Describe and discuss when one should use an FPEPA contract. Compare and contrast this to a typical FP contract. (Points: 20)

10. (TCO E) Senior management has just returned from a risk management workshop. One of the topics was reserve analysis. Management does not completely understand the concept and asks you what the purpose is of performing reserve analysis during the risk management process. (Points : 20)

11. (TCO D) You are the project manager for an important healthcare project. You are performing qualitative risk analysis. Below are the values of probability and impact for the top six risks that were given to you by project team. Assuming a neutral stakeholder tolerance, which risks must be addressed proactively if possible?(Points : 25)

12. TCO C) You are the project manager for a large health information technology project. You are confronted with an important decision on your project: How much scenario testing is appropriate for this project? Employ decision tree analysis to provide senior management with the best course of action for this decision.
For this decision, you have three possible choices: no scenario testing of the design, moderate scenario testing of the design, or full scenario testing of the design. No scenario testing will incur no additional costs due to testing and has a 10% chance of a successful implementation. If it is unsuccessful, rework costs are likely to be $30 million. Moderate scenario testing will cost $5 million and has a 50% chance of success. If it is unsuccessful, rework costs are likely to be $30 million. Full scenario testing will cost $10 million and has a 90% chance of success. If it is unsuccessful, rework costs are likely to be $30 million. Which solution is appropriate for this project?

Set 2

1. (TCOs A and B) Quantitative risk analysis does all of the following, except
perform a Monte Carlo analysis.
employ EVM.
utilize sensitivity analysis.
employ a risk matrix.

Question 2. 2. (TCO G) You need to ensure your project is completed by July 1 of next year. You do not have time to do all the design work yourself, so you decide to contract out that work. Which type of contract would likely be best in this situation?
Cost plus
Fixed price with economic price adjustment
Fixed price with incentives
Cost plus with incentives

Question 3. 3. (TCO D) Which risk response strategy is most appropriate for risks on the watch list?
Transference
Exploitation
Passive acceptance
Active acceptance

4. (TCOs A and B) You have been appointed as a project manager for a high-dollar project for a government agency, and you have been asked by your boss to identify the stakeholder groups and the individuals who make up those groups in order to start the stakeholder analysis. Identify at least six groups of stakeholders and the individuals who comprise those groups, and explain when the stakeholder identification process should take place during the planning of the project. (Points: 20)

Question 6. 6. (TCO C) You are the project manager for a large health information technology project. You are confronted with an important decision on your project: How much posttesting of the design is appropriate for this project? Employ decision tree analysis to provide senior management with the best course of action for this decision.
For this decision, you have three possible choices: no posttesting of the design, moderate posttesting of the design, or full posttesting of the design. No posttesting will incur no additional costs due to testing and has a 25% chance of a successful implementation. If it is unsuccessful, rework costs are likely to be $30 million dollars. Moderate testing will cost $5 million and has a 50% chance of success. If it is unsuccessful, rework costs are likely to be $30 million. Full testing will cost $10 million and has a 75% chance of success. If it is unsuccessful, rework costs are likely to be $30 million. Which solution is appropriate for this project? (Points : 40)

Question 7. 7. (TCO D) You are the project manager for an important healthcare project. You are performing qualitative risk analysis. Below are the values of probability and impact for the top six risks that were given to you by project team. Assuming a neutral stakeholder tolerance, which risks must be addressed proactively if possible?
(Points : 25)

Question 8. 8. (TCO E) Senior management is very interested in creating an effective risk monitoring and control system that is tied to a performance monitoring system for your project. Describe what a good monitoring and control and performance measurement system for your project would look like. Be sure to include an example to help illustrate your answer. (Points : 20)

Question 9. 9. (TCO F) You are a project manager for a large healthcare R & D project. Senior management has asked you to utilize a sensitivity analysis and a tornado diagram to quantify risks on your project. Senior management’s major concern is the price of raw materials in the development of the new drug. Describe how to perform a sensitivity analysis and use a tornado diagram to quantify risks to your project. (Points : 25)

Question 10. 10. (TCO G) Describe and discuss when one should use an FPEPA contract. Compare and contrast this to a typical FP contract. (Points : 20)

Question 11. 11. (TCO H) You are in a status meeting with key project stakeholders. You are discussing residual and secondary risks in your project. The stakeholders are becoming concerned about these concepts. The key stakeholders ask for an explanation and example of each. How would you describe each? Provide an example of a residual and a secondary risk.

Question 12. 12. (TCO I) You are the project manager on a complete overhaul of your corporation’s IT infrastructure. You have decided to employ fault-tree analysis on your project. What is fault-tree analysis, and how can it be applied to your project?

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PROJ 595 Project Risk Management Week 8 Final Exam_Modified