Description

3 QUESTIONS. REFERENCES MUST BE FROM PMI.ORG. YOU CAN JUST SEARCH ARTICLES RELATED TO THE TOPIC. Each answer should be around 3/4 page long.

1) how could you use tables or charts in:

-Ranking of project risks in scope
-Displaying risks to project resources or project budgets
-Identifying risks in scheduling that would ‘impact’ the critical path
Review formats of a Probability & Impact matrix, a Risk Breakdown Structure and other visual examples in the “Appendix D” of the Practice Standards for Risk Management (PMI, 2009) (THIS FILE IS ATTACHED) before posting your response.

2) Understanding the terms Project Risk Management is key to manage projects. Select Practice Standards for Risk Management (PMI, 2009) or other PMI.org reading to cite. Then explain why “estimating” (durations or projected budgets) can be one of the riskiest aspects of any project and why a PM needs to understand how to estimate time-on-task to mitigate schedule and/or scope risks.

3) Chapter 4 of the PMI Practice Standard for Project Configuration Management (2007) (THIS IS ATTACHED) describes a basic process for managing the “fundamental project constraints of scope, time, cost, and quality” (p.15). Comment on the similarities and differences between this basic process and the project change management process used in your organization.