Gene’s Week 1 DQ

Each questions have to be; coherent and cohesive, a minimum of 200 words and you have to cite one sources.

1.      How do you manage project risk as a project manager?  Link to Reference Video: https://www.lynda.com/Business-Skills-tutorials/Managing-Project-Risk/139991-2.html?org=phoenix.edu

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2.     In your own words (NO QUOTED  definition) define “what a risk is”  in project management?

3.     Projects and risk management are interwoven, interdependent and integrated throughout an organization internal and external environment, which is why we will be discussing a wide spectrum of topics that may not seem to be relevant to risk management but are relevant.  So, how are they interwoven, interdependent and integrated throughout an organization internal and external environment?

4.     Chp2 Competent independent review, sometimes called independent peer review, has three primary aims, of broadly equal importance:

● To provide independent assurance of an investment opportunity and to ensure that there is a robust and viable business case and that the return on the investment is optimised in keeping with the organisation’s risk attitude.

● To contribute positively to the value of investments and projects.

● To ensure that approval bodies and executives can make well-informed and confident decisions about investment opportunities.

Why is a “Competent independent Review” so important in a project management project?

5.     How does the focus of risk management change through the main phases in the life of a project?

6.     Post-execution reviews examine project performance during the delivery phase. What is the main focus during this phase and what should be the outcome of the review?

  1. Chp3 What are the main components of a framework for managing risk in a project, and why is a framework important?
  2. What should be covered in a project risk management policy? Who should authorize it?
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