Risk Analysis Risk is defined as “a function of the likelihood of a given threat and the resulting impact of that adverse event on the organization.” Every project involves risk‚ our wedding is no exception in order to identify what risk are associated with our project we must first build a profile and identify key roles with potential hazards or risk. Below is risk profile for the wedding: Schedule Is the schedule in order to coincide with the wedding date (End date)? Task Estimates Are time
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In this homework assignment‚ you will be working through two crashing problems and four earned value problems. All the information you need is included within this Homework packet. Make sure you answer all parts of the questions in their entirety. Once you have worked through the problems‚ please post your responses to the Drop Box. Please refer to the course syllabus for the due date. PROBLEM 1 Use the network diagram below and the additional information provided to answer the corresponding
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The project schedule for the Huntsville plant project has been already done and completed. The resources and duration are properly assigned to the specific tasks/ activities. This section of the report will discuss the outcome of the project schedule and allocation of the resources used in the project. The Gantt chat in the Microsoft project shows each activity and estimated duration as when it will be completed. The Gantt chat also reveals that the estimated completion time for the
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your team‚ create a 2-level WBS. Don’t forget to include your WBS numbering. b) In your WBS‚ how many work packages have been created? | | | Student Answer: | | WBS#DESCRIPTION RESPONSIBILITY DELIVERABLE 0.0 Hardware/Software PM – John 1.1 HW Vender Selection PM- John Selected Vendor 2.0 Design Software Peter Software Design 3.0 Code Software Paul Coded Software 3.1 Install Software Peter Installed Software 3.2 Test Software Peter Tested Software 3.3 Train Staff Mary Trained Staff | | Instructor
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all plant equipment and complete testing to ensure that all plant equipment is working to specifications. To complete an extensive walk-through one week prior to sign off by production management. Project Objectives To place the project in a matrix organizational structure equipped with capable staff that are recruited both outside and inside of the company. APPROVALS Type Name Signature Date Project Manager Approval:
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Project Plan Part 1 University of Phoenix‚ PM 586 The Berkshire Hills Bancorp is the parent of Berkshire Bank. The organization has approximately $6.0 billion in assets and 90 full service branch offices in Massachusetts‚ New York‚ Connecticut‚ and Vermont providing personal and business banking‚ insurance‚ and wealth management services. (Berkshire Hills Bancorp‚ 2014). The organization has a hiring process that needs updating to be able to identify the best candidate
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1. What is your total budget for this project? Was the project within the budget as set forth by the board of directors? The total budget for the project is $2‚634‚172. This amount is about $100‚000 less than the current allotted amount of $2‚750‚000‚ showing that the project is currently within budget. To continue on this projected path of being within budget. We need to stay on task and maintain the current budget allocations and ensure the various activities such as training and recruiting
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Risk management is a complex process but the principles are quite simple. We all make risk assessments in our everyday lives‚ from crossing the road to deciding whether or not to eat a burger. The process which you consciously or unconsciously undertake is: IDENTIFY THE HAZARD DEFINE THE RISK ARISING FROM THE IDENTIFIED HAZARDS ELIMINATE THE HAZARD OR MITIGATE WHERE THIS IS NOT POSSIBLE (identify control measures) Eliminate Reduce/Control/Substitute Provide Information
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| | | | . | | | | | |Leadership risk |Software integration| | |HIGH | | | | | |
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5 Project RISK MATRIX A risk matrix is a simple way of ranking‚ different potential projects in terms of their potential benefit and the likely risks or costs in implementing them. Some projects may be very attractive in terms of potential benefits that they offer but have serious implementation difficulties. Others may be low value in impact terms but be easy to implement tomorrow. Ideally firms will want to choose a balanced portfolio of short and long-term‚ low-risk and high-risk projects (http://www
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