THE ROLE OF RISK MANAGEMENT IN PROJECT MANAGEMENT Risk Risk is an uncertain event or a set of circumstances whose occurrence will have an impact on achievement of one or more of the expected project goal and objectives. Probability – A risk is an event that "may" occur. The probability of it occurring can range anywhere from just above 0 percent to just below 100 percent. Impact – A risk‚ by its very nature‚ always has a negative impact. However‚ the size of the impact varies in terms
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similar problems (sometimes called “files”). Signature: ___________________________ 1. Paul is a project manager for an effort that requires twelve months. During the 7th‚ 8th‚ and 9th months he needs two individuals with special qualifications. The functional manager has promised that these individuals will be available two months before they are needed. If Paul does not assign them to his project at that time‚ they will be assigned elsewhere and he will have to do with whoever will be available
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QUIZ 2 IN MGT05: OPERATIONS MANAGEMENT PROJECT MANAGEMENT 1) Which of the following statements regarding Bechtel is true? A) Its competitive advantage is project management. B) Bechtel was the construction contractor for the Hoover Dam. C) While helping to rebuild Iraq‚ Bechtel’s crews had to travel under armed escort. D) Bechtel’s procurement program is global in nature. E) All of the above are true. 2) Which of the following statements about Bechtel is true? A) Even though Bechtel
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negative by their nature‚ a person’s motivation must also be considered. Importance of Project Managers Adhering to a “Code of Ethics” A project manager may be faced with many decisions in which he or she must choose the right course of action. A project manager’s ethics should provide a strong guide for these decisions. Ethics should also assist the project manager with interpersonal communication. The project manager will promote a positive work atmosphere by having honesty and being respectful
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scenario from Chapter 10 of the MGT/521 Management text book. Scenario Ricky Lee is the manager of the contracts group of a large regional office supply distributor. His boss‚ Anne Zumwalt‚ has asked him to prepare by the end of the month the department’s new procedures manual that will outline the steps followed in negotiating contracts with office products manufacturers who supply the organization’s products. Because Ricky has another major project he’s working on‚ he went to Anne and
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| |Week |2 | |Topic |Behind the Scenes Tour of PMBOK Guide 5th Edition | | | |Report No. |1
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managers‚ donors‚ participants and citizens‚ then the work must be honest‚ objective and fair. Data must be collected accurately and reporting done truthfully”. Monitoring and evaluation serves as an essential tool for ensuring sound management within the lifetime of projects or policies. There are certain activities that must be done to put into consideration the cost‚ time‚ feasibility and useful means in relation to identifying the maximum amount of information needed to meet the need of monitoring
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BMM 4022 PROJECT MANAGEMENT PROJECT REPORT SCREW PUMP MANUFACTURING RA METAL SDN . BHD. PERAMU FOUNDRY PEKAN NAME : DHILIP RAJA NAIDU A/L MURUGAYAH ID : MC11055 INTRODUCTION RA Metal Sdn. Bhd is a subsidiary company of Metallic Corporation‚ Malaysia under the Fluid Machinery and System Group. Incorporated in January 2001‚ RA Metal is responsible for the manufacturing pumps and related equipment in Malaysia. RA Metals seeks to provide our customers with quality and technological
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activities taking place in a project or programme. It is a process of routinely gathering information on all aspects of the project. To monitor is to check on how project activities are progressing. It is observation; ─ systematic and purposeful observation. Monitoring also involves giving feedback about the progress of the project to the donors‚ implementers and beneficiaries of the project. Reporting enables the gathered information to be used in making decisions for improving project performance. Monitoring
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Subject: Software Project Management PROJECT MANAGEMENT By Sandeep Upadhyay Sandeep Upadhyay Study Stuffs 1 People – People must be organized to perform the software work effectively. Product – Effective Requirement Analysis can make the scope of the Product clear & approachable easily. Process – A process must be followed that is appropriate for the product & people. Project - The project must be planned & executed afterwards by estimating the effort including defining the checkpoints
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