Question

1. What is the project manager’s role in assessing risk within the project? Consider a project of your own and present a risk register for that project.

2. What are some advantages and disadvantages of housing a project in a functional form.

3. Are the risk responses for threats or opportunities more important for project managers? Why?

Answer 1

1. What is the project manager’s role in assessing risk within the project? Consider a project of your own and present a risk register for that project.

The project manager’s role in assessing risk is:

1. Risk Management Planning deciding how to approach and plan the risk management activities for a project.

2. Risk Identification determining which risks might affect the project and documenting their characteristics.

3. Qualitative Risk Analysis performing a qualitative analysis of risks and conditions to prioritize their impacts on project objectives.

4. Quantitative Risk Analysis estimating the probability and consequences of risks and hence the implications for project objectives.

5. Risk Response Planning developing procedures and techniques to enhance opportunities and reduce threats to the project’s objectives.

6. Risk Monitoring and Control monitoring residual risks, identifying new risks, executing risk reduction plans and evaluating their effectiveness throughout the project life cycle.

7. The Risk Management Register creating a permanent register of identified risks, methods used to mitigate or resolve them, and the results of all risk management activities.

2. What are some advantages and disadvantages of housing a project in a functional form.

· Advantages:

- Groups of specialists share knowledge and experiences

- Flexible use of   staff

- Experts are available for multiple projects

- Technical continuity is maintained

- Career paths are available.

· Disadvantages:

- Projects tend to be subobtimized

- Customers are not the primary focus of actiivity, focus tends to be function-oriented rather than problem-oriented

- An individual is ussually not assigned overall project responsibility, responsiveness to customerneeds tends to be slow

- Team members usually possess weak motivation towards doing the project, creates a fragmented approach to executing the project.

Please post the other question separately since we are allowed to answer only one, but I answered two for you. Thanks for understanding.

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