Each question has to be; coherent and cohesive, a minimum of 200 words and you have to cite one source.
· 1. Explain the importance of carefully reviewing a ‘consequence scale’ that you could use in assessing risk for your organization.
· 2. Discuss how control effectiveness, consequences, likelihoods and levels of risk can be used to set priorities for control improvement.
· 3. Discuss how levels of risk and potential exposures can be used to set priorities for control assurance. What kinds of activities would be involved in control assurance?
4. Case Study
Our project is a 20 story building in Manahatten New York, identify two risk with your reasoning of why they are a risk and your assessment of the likihood of the risk happening
5. Inherent risks are natural risk to virtually all project and/or similar project, like project failure, or business failure associated with starting a new business or expanding a business. Other risks are explicitly for a particular project but they can be common to other projects, like weather is an inherent risk for many different construction project and outdoor events. However, weather could in some circumstance be considered a risk for indoor construction project or events, because although they typically would not shut down the project they could have some degree of impact on the project.
The question then is what risk would weather potential have on an indoor construction project?
6. Why is it so significant about Performing Qualitative Risk Analysis?
7. A what phase of a project should we be Performing Quantitative Risk Analysis and what should it yield?
8. How should a Project Manager Assess and Prioritize Analyzed Risks?
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