Project Risk Management Processes and Principles - Management Assignment Help

Assignment Task

Theory
Test your grasp of project risk management processes and principles, and ability to apply them to real-world examples
Example:
Explain each of the following approaches to risk response, and illustrate your answer with examples of how and under what circumstances each should be applied in the project you and your team chose for the project risk management plan:
Risk transfer
Contingency planning
Risk acceptance
Techniques
Test your ability to describe how to various project risk management techniques should be used
Example:
Describe the steps that should be followed to determine a stakeholder’s risk tolerance by using the lottery method
Application
Test your ability to use a project risk management technique to solve a specific problem
Example:
Prepare a sensitivity analysis that includes a tornado table and tornado diagram, using the following data. Explain what the results mean.
Simple table provided, showing profit or cost inputs and outputs, along with relevant calculation formula, and upper and lower limits for variables
Similar to Eagle Airlines example but with fewer calculations required
Advice on answering questions
This is not a test of your ability to “Copy and paste”: you need to demonstrate understanding
In “Application” questions, you do this by solving the problem
In “Theory” and “Techniques” questions, don’t simply copy or parrot the slides, textbook, or other sources: you should demonstrate your understanding by providing relevant, clear example(s)
You can use the textbook, your notes, lecture slides and other materials. You cannot search for answers on the Internet or contact another student in any way about the assessment
If you paraphrase or quote any materials that are not your own work (for example, the textbook, articles, or lecture slides) you must reference the source. Simple referencing is sufficient, e.g. “Kendrick” or “Lecture 10 slides”
All answers will be put through anti-plagiarism software to detect for non-original material. You are responsible for the academic integrity of an assessment you submit

Read questions carefully before answering
Try to organise your answers clearly
Each distinct idea or component of your answer should be clearly presented
Use headings / bullet-points / paragraphs to get you ideas across as clearly as possible
Ensure that any diagrams/tables are clearly legible on the page of your submitted document, whether they are computer-drawn or hand-drawn and pasted in
You can only receive credit for visible, legible work and you cannot submit a later attempt after the deadline expires
Instructions for Candidates:
1. The exam will be accessed through the Assignments area of Brightspace. The exam paper will become available at exactly 14.00 on Thursday 22 July, and you will have until 16.00 on Thursday 22 July (time zone in Dublin) to upload your completed exam at the same place in Brightspace.
2. At the 2 hour point you should have completed your answers and scanned your handwritten work as a PDF and upload it in Brightspace. You may use a mobile phone app of your choice or a scanner, as long as your answers are saved as a single PDF file.
3. Write your answers by hand on white A4 paper (lined or blank, whichever you prefer). Typed submissions will not be accepted.
4. Answer THREE questions, out of the four questions on the exam paper. All questions carry equal marks. Answer all parts of the questions you choose. Please note the weighting of marks within questions.
5. Ensure that you scan all of your pages in the correct sequence and save them as a single PDF document, as your submission must be uploaded as a single document. Before uploading, please make sure that your scanned document is clear and legible.
6. Upload your single PDF document in the Assignments area in Brightspace where you accessed the exam paper. Your submission can be uploaded at any time between 14.00 and 16.00 on Thursday 22 July (time zone in Dublin). The upload link will expire at exactly 16.00 on that date and you must upload your document before that time.
7. You can upload your single document as often as you want until the deadline, but only your most recent document upload will be saved.
8. You can use the textbook, your notes, lecture slides and other materials. You cannot search for answers on the Internet. You cannot contact another student in any way during the exam. Remember, you are responsible for the academic integrity of the assessment you submit.
9. If you paraphrase or quote any materials that are not your own work (for example, the textbook, articles, or lecture slides) you must reference the source. Simple referencing is sufficient, e.g. “Kendrick” or “Lecture slides”.
Subject main textbook for this module:
Kendrick, Tom (2015) Identifying and Managing Project Risk, 3rd edition, Amacom.
Modules are as below:
Lecture 1: Introduction; Risk Management Planning
Reading: Kendrick, Chapters 1 & 2
Lecture 2: Identifying and Categorising Risk
Reading: Kendrick, Chapters 3, 4 & 5
Lecture 3: Project Risk Management in Practice I;Risk Analysis I
Reading: Kendrick, Chapters 3, 4 & 5
Case study: The PCNET project (A): Project Risk Management in an IT Integration Project
Lecture 4: Risk Analysis II
Reading: Kendrick, Chapters 7 & 9
Exercises: Canonical Decision Problems: “Product Development Sequencing” and “Options for Flexibility”
Lecture 5: Risk Analysis III
Exercises: As assigned in Lecture 4
Lecture 6: Risk Analysis IV
Reading: Lecture slides
Lecture 7: Risk Analysis V
Reading: Lecture slides
Lecture 8: Risk Management and Response Planning

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