may i know what is the answer for part 1 question 7 a-e?can you give me the explanation as well thank you.
BITP 3223 Software Project Management
Group Assignment 4 1 2 Project WBS Gantt chart 3 Critical Path (the red line) True/False
1. Failure to follow a formal risk management plan will often cause organizations to be reactive
and find themselves in a state of perpetual crisis, a condition known as crisis management.
2. The best time to plan for risk is during the project execution phase when risk can be assessed
3. Effective project risk management requires that each risk have an owner.
4. In general, because of the similarities in IT projects, one can manage all projects and risks in
the same manner.
5. Project risk management focuses solely on the downside that results from unexpected
problems or threats.
False 4 Structure Question
1. What is project risk?
Project risk is an unexpected event or condition that, if it occurs has an effort on at least not
achieving a defined project goal.
2. What is project risk management?
Project risk management focuses on identifying, responding to and controlling the risks to the
project and managing those risks to minimize the impact on the project. Failure to conduct
good risk management can result in delayed completion schedule, budget and project failure.
3. Why can identifying IT project risks be difficult?
1. Project manager is not having a sample or general list of risk to identify the project
2. Brainstorming sessions with team members from different departments are not
3. Project manager did not have a skill to make the limited budget and also minimize the
risks within a project.
4. Infrequently new technology or products that will risk a project.
5. Without knowledge to provide accurate estimates timescale.
6. Lack of experienced staff documenting the requirements.
4. What is SWOT analysis? How can this technique be used to identify IT project risks?
? SWOT analysis is stands for Strengths, Weaknesses, Opportunities, and Threats
This technique will looks at the project from the perspective of its internal strengths and
internal weaknesses to the organization as well as external opportunities and threats by
the environment to the organization. 5. What is the difference between an internal and external risk? Give an example of each.
Risks arising from the events taking place Risks arising from the events taking place
within the organization which can be outside the organization which cannot be
Example: human factors, technological factors Example: economic factors, natural factors and
and physical factors.
Human factors are ineffective management or Economic risk is changes in market conditions
leadership and unskilled employees.
such as pricing pressure.
Technological risk is emerging technologies.
Natural risk is natural disasters such as floods
5 and earthquakes.
Physical risk is the loss or damage to the assets Political risk is changes in political
of a company such as failure of machines and environment
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