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ASSIGNMENT
DRIVE SPRING 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
CREDITS AND MARKS 4 CREDITS AND 60 MARKS
Note: Answer all questions. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.
Q. 1. What are the different risk categories? What is Risk Breakdown Structure (RBS)?
Answer:The risksfacedbyan organisationshouldbe categorisedinrelationtowhatthe organisation
does. There are a number of commonly used categories which help to group risks according to the
various aspects of the organisation and its activities which you need to consider.
Explain the 4 different risk categories:
Q. 2. What is Risk Opportunity and Management System (ROMS)? What are its benefits?
Answer:ROMS is based on 20 years of research and current best practice across a range of high risk
industry sectors including construction, mining, security, nuclear power, defence, social and
economic infrastructure, ports, health, emergency management, asset management etc. ROMS is
designed to provide a consistent, systematic and integrated approach to risk and opportunity
management across your entire business.
Q. 3. List the mitigation strategies/ideas for scope risks, schedule risks and resource.
Answer:Riskmanagementisthe identification,assessment,andprioritizationof risks(defined in ISO
31000 as the effect of uncertainty on objectives) followed by coordinated and economical
application of resources to minimize, monitor, and control the probability and/or impact of
unfortunate events ortomaximize the realizationof opportunities. Risk management’s objective is
to assure uncertainty does not deviate the endeavor from the business goals.
Q. 4. What are the sources of resource risks?
Answer:Formedical devices,riskmanagementisaprocessfor identifying,evaluating and mitigating
risksassociatedwithharmto people anddamage topropertyor the environment.Riskmanagement
isan integral part of medical device designanddevelopment, production processes and evaluation
of fieldexperience,andisapplicable toall typesof medical devices.The evidence of itsapplicationis
required by most regulatory bodies such as FDA. The management of risks for medical devices is
described by the International Organization for
Q. 5. What are different types of scope risks?
Answer:While scope risksrepresented roughly one-third of the data in the Project Experience Risk
Information Library (PERIL) database, they account for close to half of the total impact. The two
broad categoriesof scope riskinPERIL relate tochangesand to defects.Byfarthe most damage was
due to poorlymanagedchange,butall scope risksrepresentsignificantexposure intypical high-tech
projects. While some of the risk situations,
Q. 6. Explain the three point estimates used in quantitative risk analysis.
Answer:The three-point estimation technique is used in management and information systems
applications for the construction of an approximate probability distribution representing the
outcome of future events, based on very limited information. While the distribution used for the
approximation might be a normal distribution, this is not always so and, for example a triangular
distribution might be used, depending on the application.
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601

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Pm 0016 project risk management

  • 1. Dear students get fully solved assignments Send your semester & Specialization name to our mail id : “ help.mbaassignments@gmail.com ” or Call us at : 08263069601 ASSIGNMENT DRIVE SPRING 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 CREDITS AND MARKS 4 CREDITS AND 60 MARKS Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Q. 1. What are the different risk categories? What is Risk Breakdown Structure (RBS)? Answer:The risksfacedbyan organisationshouldbe categorisedinrelationtowhatthe organisation does. There are a number of commonly used categories which help to group risks according to the various aspects of the organisation and its activities which you need to consider. Explain the 4 different risk categories: Q. 2. What is Risk Opportunity and Management System (ROMS)? What are its benefits? Answer:ROMS is based on 20 years of research and current best practice across a range of high risk industry sectors including construction, mining, security, nuclear power, defence, social and economic infrastructure, ports, health, emergency management, asset management etc. ROMS is designed to provide a consistent, systematic and integrated approach to risk and opportunity management across your entire business. Q. 3. List the mitigation strategies/ideas for scope risks, schedule risks and resource. Answer:Riskmanagementisthe identification,assessment,andprioritizationof risks(defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events ortomaximize the realizationof opportunities. Risk management’s objective is to assure uncertainty does not deviate the endeavor from the business goals.
  • 2. Q. 4. What are the sources of resource risks? Answer:Formedical devices,riskmanagementisaprocessfor identifying,evaluating and mitigating risksassociatedwithharmto people anddamage topropertyor the environment.Riskmanagement isan integral part of medical device designanddevelopment, production processes and evaluation of fieldexperience,andisapplicable toall typesof medical devices.The evidence of itsapplicationis required by most regulatory bodies such as FDA. The management of risks for medical devices is described by the International Organization for Q. 5. What are different types of scope risks? Answer:While scope risksrepresented roughly one-third of the data in the Project Experience Risk Information Library (PERIL) database, they account for close to half of the total impact. The two broad categoriesof scope riskinPERIL relate tochangesand to defects.Byfarthe most damage was due to poorlymanagedchange,butall scope risksrepresentsignificantexposure intypical high-tech projects. While some of the risk situations, Q. 6. Explain the three point estimates used in quantitative risk analysis. Answer:The three-point estimation technique is used in management and information systems applications for the construction of an approximate probability distribution representing the outcome of future events, based on very limited information. While the distribution used for the approximation might be a normal distribution, this is not always so and, for example a triangular distribution might be used, depending on the application. Dear students get fully solved assignments Send your semester & Specialization name to our mail id : “ help.mbaassignments@gmail.com ” or Call us at : 08263069601