Your team has identified several risks in the project as well as their probability, impact, and priorities. The team is now exploring the response strategies to risks if they occur. The team identified that a couple of the programmers on the team might leave, which would significantly impact the project, but they decide to deal with it if and when it occurs. Which one of the following statements is true?
This is passive acceptance.
This active acceptance.
This is risk avoidance.
This is riskmitigation
This is passive acceptance
This is passive acceptance as in this case, the team had identified although did not plan and waiting for the actions to take place. They have anticipated the changes and impact that it may cause although they haven't taken actions to protect the same.
Your team has identified several risks in the project as well as their probability, impact, and...
1 You are project manager in a global project with a team consisting of people from various countries. What can you try to prevent misunderstandings due to cross-cultural differences? a Use all communication methods available that are suitable for the team and follow up in writing when communicating verbally. Remember that cultural and individual diversity may help project teams solving unforeseen problems during the course of the project. b When you are about to form a team for your project,...
____ Your project has several phases. One of these phases is not planned in detail and will be planned later when more information becomes available. This technique is called: Incomplete schedule Delphi technique Parametric planning Rolling wave planning ____ The responsibility assignment matrix (RAM) is used to: Display the connection between the project team members and the work that needs to be done Display the reporting relationships among the project team members Develop a WBS Assign only the managerial responsibilities...
Qualitative risks are typically categorized by a group of experts to determine the probability and the impact to project objectives. In the example below, consider the next steps that should be taken as project manager to assemble a group of experts to participate. Who would you select and why? Project Management Body of Knowledge (PMBOK) defines risks as “an uncertain event or condition, that if it occurs, has a positive or negative effect on one or more project objectives” (ProjectRiskCoach,...
NO EXPLANATION NEEDED, JUST ANSWER. A senior manager is in the process of selecting a project manager for a new initiative that is very important for the company’s future. What is the key factor in choosing a project manager? The project manager should be the most technically competent person on the team The PM works well with various levels of management The project manager should be the functional manager of the most people on the team The project manager must...
Please read through the article below and answer the question at the end of the article. What Are the Project Management Knowledge Areas? PMI created a set of standard terminology and guidelines for project management, which is known as the project management knowledge areas. This is an evolving standard that is updated periodically in its PMBOK. Project management knowledge areas coincide with the process groups, which are project initiation, project planning, project execution, monitoring and controlling, and project closing. These...
Q: Complete the following "Reason column" for your software engineering risk analysis project. Please Note that there is a sample for filling the reason column please see it. Risk Probability Effects Reason Organizational financial problems force reductions in the project budget (7). Low Catastrophic It is impossible to recruit staff with the skills required for the project (3). High Catastrophic Key staff are ill at critical times in the project (4). Moderate Serious Faults in reusable software components have to...
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PROBLEMS 1. A bookstore buys used textbooks and resells them. The demand for the books will be either 100, 150 or 200 copkes and the probabili ty of selling these nuabers. of books is 0.25. О.40 and 0.35 respectively. The book- store buys the used books for $8.00 and resells them for 10.50. (Assume the books will...
REMOVEDAuditors have a responsibility to remain alert to audit evidence that contradicts other audit evidence obtained. The application of professional skepticism is essential to the critical assessment and questioning of contradictory audit evidence. When the auditor obtains information during the course of the audit that contradicts information obtained from another source, the auditor has a responsibility to resolve the matter and consider its impact on the sufficiency and appropriateness of audit evidence obtained and the effect, if any, on other...
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Consider the proposal. Should SCF accept or reject ACL’s request? If you were the project manager, which option would you select? What risks are involved with your choice and with ACL’s request? Shell Case Fabricators BACKGROUND Shell Case Fabricators (SCF) designs and builds shell casings that enclose electronic products such as calculators, cell phones, modems. Typically the cases are plastic or plastic compounds. SCF has six different production lines that cover different types of product. For example, the largest high...