SMU MBA SEM 4 -PM 0016 –PROJECT RISK MANAGEMENT

SMU MBA WINTER 2015 -2016

Dear Students,

SMU MBA WINTER 2015-2016 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420  or S M S your “ Email ID ” us in the following Format  “  On +91 9995105420 we will reach back you with in 24H ”

 

DRIVE

Winter 2015

PROGRAM

MBADS (SEM 4/SEM 6) MBAFLEX/ MBA (SEM 4)

PGDPMN (SEM 2)

SUBJECT CODE & NAME

PM 0016 –PROJECT RISK MANAGEMENT

BK ID – B2012

CREDIT AND MARKS – 4 CREDITS AND 60 MARKS

 

Q1. Describe the various type of project risks. (Discuss the FIVE types of project risks) 10 (2 marks each)

Answer: Types of Project Risks: As discussed in the previous section, the sources of risk lead to potential risks that affect project deliverables. Various types of project risks are defined on the basis of the aspect or area of

 

 

Q2. Explain the different types of probability distributions in risk analysis. (Discuss the different types of probability distributions used in risk analysis, Discuss how the probability distribution may be interpreted with respect to risk analysis) 10

Answer: Probability Distribution in Risk analysis: The commonly used probability distributions in risk analysis are given below:

 

Normal distribution: This is the most basic probability distribution and is also known as “bell curve”. It is a unique distribution that is symmetrical and has a peculiar property of having the same mean, mode

 

 

Q3. How is the impact of a qualitative risk assessed? (Describe goal of impact assessment , why it is crucial step in qualitative risk analysis, Explain the reason for difficulty in assessing impacts with suitable examples, Describe the approach followed in risk assessment) 10

Answer: Goal of impact assessment: Impact assessment is a crucial step in qualitative risk analysis. The probability of an event is not enough for analyzing a risk level. Probability only tells one how likely that event is; it tells nothing about the magnitude of the loss if the risk event occurs. The goal of impact assessment is to assess the impact of a risk if it occurs. The impact can be on a

 

 

Q4. Explain the steps in risk management planning. (List the steps in risk management planning, Discuss the steps involved in risk management planning) 10

Answer: Steps in risk management planning: The steps in the risk management planning are different from the steps in the risk management process. The steps in the planning help establish and streamline the risk management process. So, let us look at the project risk management process steps/flow and then, look at the corresponding stepson the planning that facilitates those. The steps

 

Q5. What are the sources of schedule risk? (List the THREE categories which are the root causes of schedule risks, Explain the sub categories under each category) 10

Answer: Sources of Schedule Risk: For managing a schedule risk, it is important to identify the sources of the risk. In the Introduction section, you studied the outcome of a study conducted by Tom Kendrick, which showed the root causes of the schedule risks documented by him in a Pareto chart. The chart

 

 

Q6. Write short notes on: 10

  • Tools for analyzing project constraints
  • Project status report
  • Types of project audits based on method of conducting the audit

Answer: Tools for analyzing project constraints: The analysis of constraints and assumptions helps not only in project planning and execution but also in identifying the potential risks if the assumptions go wrong. The commonly used tools for identifying andanalysing the risks associated with constraints and

 

SMU MBA WINTER 2015 -2016

Dear Students,

SMU MBA WINTER 2015-2016 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420  or S M S your “ Email ID ” us in the following Format  “  On +91 9995105420 we will reach back you with in 24H ”