Week 8 Discussion Post {$15}

timer Asked: Jan 28th, 2016

Question description

Pick one question to answer from each of the three areas below. Post an original thread in this forum– 500 words or less.

Risk Management:

  • What is "risk management" and why is it important in the project environment?
  • Does it make sense to spend time and effort to plan for events or occurrences that may never occur - why or why not?
  • How can communication help in identifying AND managing risk?  Give an example from your personal or professional experience.

Risk in the Project Environment:

  • When looking at risks in the project environment, why are we concerned with the impact and probability of a potential risk event? 
  • How could you sort through a long list of risks in a project so that focus is placed on the most important one(s)?
  • When is the best time to assess potential risks in a project AND at what frequency?
  • When is risk generally highest in a project - why?
  • Why is it important to identify and diligently watch for risk "triggers" in the project environment?  Please define a risk "trigger" first when answering this question.

Risk Information:

  • Explain what a "risk register" is, what it is used for, and what it contains (i.e. components for the risk register). Please describe each of the components.
  • What are some sources of information on risks that you would list in a risk register (i.e. where would you find information on risks)?
  • Explain at least two techniques for gathering risk information from various sources. Support your response with one reference in addition to those provided in your required/optional readings, learning modules, and text books.
  • Why is it important to document risks and risk information gathered from various sources?
  • Often you will document risk "symptoms" and risk "triggers" in a risk register.  Explain how the difference in these two concepts and how they are related.

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