Bill is the project manager for a project that will last six months and has a budget of $580,000. In this project a high-risk has been identified with the new materials the project will be using. Bill would like to assign one person, Beth, to be responsible to monitor this risk. Bill assigns Beth the authority to respond to the risk event if it appears in the risk events that is likely to happen. In addition, Bill hires a consultant to work with Beth on this area of the project. In this instance, who is the risk response owner?
The project values are in thousands. The project manager has a budget of US$8,000,000 for this project and asks how much more would be needed to add to the contingency reserve for a P40?
You are the project manager of RTF project for your organization. You are working with your project team and several key stakeholders to create a diagram that shows causal factors for an effect to be solved.
What diagramming technique are you using as a part of the risk identification process?
Wendy is the project manager of the FBL project for your company. She has identified several risks within her project and has created a risk contingency reserve of $45,000 total. Her project is nearly complete and many of the risks have not happened in the project. What should Wendy do with the funds in the contingency reserve?
The project values are in thousands. What is the average cost of the project?
