Project risk management
7 important questions on Project risk management
List the steps of Risk management + Explain with keywords
Identify --> Risk types & WBS
Assess --> Quantification
Plan --> Define risk owner, use risk reponse strategy
Implement --> PM manages to risk
Monitor --> improve plan
Report
Risk reponse strateg: Give 3 threats, 3 opportunities and one neutral reponses
- Terminate
- Treat
- Transfer
- Exploit
- Enhance
- Share
- Take --> PM task to manage propperly
Complete risk register explain briefly
Likelihood --> LOW,MID,HIGH
Impact --> LOW,MID,HIGH
Mitigating -> Terminate, Treat, Transfer, Take, Share, Enhance, Exploit
Responsible --> Which stakeholder
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Rank cost estimating methods + Explain with one word
2. Analogous: Top-Down
3. Parametric: Related factoring
4. Analytical: Ground-up
What are the costs of quality, explain briefly
- Prevention: Reviewing, verifying designs
- Appraisal: Inspection, testing
- Internal: repair, redesign
- External: lost client, marketing costs (Outside control)
How to improve critical path
What is important to consider when you make statements about project health based on indices
The question on the page originate from the summary of the following study material:
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- Never study anything twice again
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- 100% sure, 100% understanding
