project management discussion 8 2
Discussion Topics must maintain integrity from each other.
Topic 1:
Contract Types.docx in the attachment addresses five different types of contracts that may be used to mitigate or deflect risk. Of the types presented, which do you feel is more advantageous to a project you might manage? Be sure to note the reason/s you chose this as your position. Which contracts would you definitely avoid for a project you might manage? Be sure to note the reason/s you chose this as your position. What is your position for using contract types in general as a risk management tool for mitigating or deflecting risk?
Topic 2:
Risk management is all about getting the math right. If there is one universal truth, it is that bad things can happen. With risk management, the only worry is getting the math wrong. Risk management is forecasting events based on mathematical models. If you are going to manage risks successfully, you have to make sure that your assumptions and quantifications are the same across all of your risks.
- Use more than one way of analyzing and quantifying risk events.
- Use past event occurrences as models for quantification.
The real risk to your project is not in the event that something bad happens; it is only in getting the math wrong. An example of a math example would include rating a risk for probably and impact to determine a quantifiable score for the risk.
Do you agree or disagree with this premise? Take a position on this approach to risk.
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project management discussion 8 2 was first posted on July 24, 2020 at 3:47 pm.
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project management discussion 8 2 was first posted on July 24, 2020 at 3:52 pm.
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