University of the Cumberlands Marketing Paper

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Business Finance

University of the Cumberlands

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Problem Set #7 1. Describe the general processes that should be followed in managing risks throughout a project. Be sure to include the general sequence in which these processes are carried out. 2. Prepare a sample risk register for a project to put humans on Mars (four or five risks). 3. What is the difference between qualitative and quantitative risk analysis? Which one is always done? Why is the other one not always done for every project? Note : The Subject name is Planning the project. At least 4-5 pages with refrence.
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4 pages
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Paper Outline
Paper Topic: Risk Management
I.

Introduction
Definition and purpose of risk management

II.

Thesis Statement
Risk management is concerned with identifying, analyzing, and mitigating against risks
that arise in the course of a project to ensure successful execution
Body

Main Point: Risk management process
Examples/Details/Explanations:
a. Identify risk.
b. Prioritize risk.
c. Monitor and review risk.

Main Point: Example of a risk register
Examples/Details/Explanations:
a. Financial risks.
b. Technological risks.
c. Technological risks.

Main Point: Methods of risk analysis
Examples/Details/Explanations:
a. Qualitative analysis.
b. Quantitative analysis.
c. Strengths and weaknesses of both methods.


Project Planning

Name of Student
Name of Instructor
Institution Affiliation
Date

1. Describe the general processes that should be followed in managing risks throughout
a project. Be sure to include the general sequence in which these processes are
carried out.
Risk management involves identifying, analyzing, and mitigating against risks that arise
in the course of a project to ensure successful execution. Risk management isn't a one-off
process; instead, it involves a continuous, systematic process ingrained in the planning of a
project. While a risk management plan doesn't necessarily imply complete prevention, it
helps a project manager develop functional mechanisms to mitigate against possible adverse
effects of risks. Risk management generally follows a standard systematic procedure as
detailed below:
Identify the Risk
It's only possible to prev...


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