a) Explain Budgeting Time

1. Validate the time to put together a budget for a human resource project.

2. Support your defence by creating a hypothetical instance of a human resource project. Relate specific elements of your example to support your justification.

b) Explain Valuing Risk Management

1. Rank risk management in significance among the previous planning elements of budgeting, resourcing, scheduling. WBS and scope planning, Justify the ranking.

2. Create a consequence where the value of risk management would be minimal. Describe why.