Ask Question, Ask an Expert


Ask Project Management Expert

One of risks you anticipated for project was late delivery of prototype from vendor. You adjusted your project schedule to minimize impact of risk, built in penalty for late delivery, and developed action plans in case vendor delivered late. You also recognized risk with vendor that they have very little technical depth; if key engineer is not available to project, risk of delay is even greater. You find out how you would monitor vendor's performance and make sure a timely delivery. You took very risk-averse, protective approach to relationship, but now, as project is progressing, you are wondering if there is something you could do with vendor to actually advantage project instead of just protecting it.

Risk management plan which describes how you will alter plans or create new plans relative to that vendor to make an opportunity which will result in lower costs, earlier delivery, higher quality, or other positive impacts.

Answer the following problems:

What can you change in plans to develop the opportunity?
What would that opportunity be?
Determine the probability that this opportunity could happen? What is the impact?
prepare down the risks (adverse effect) which are introduced by this change in plans?
How will you communicate this change to vendor?

Project Management, Management Studies

  • Category:- Project Management
  • Reference No.:- M931911

Have any Question? 

Related Questions in Project Management

Project management leadership assessment case study of

Project Management Leadership Assessment: Case study of project leadership Assignment Aim: For you to better understand how leadership style and actions affects the expectations of and delivery of project success; to bet ...

Assignment - creating a wbs for the construction of a

Assignment - Creating a WBS for the Construction of a House Steve Rogers was busy making supper with his wife, Natasha, and they were discussing the house that they had decided to build. They had made the decision that S ...

Your ceo is a visionary who wants you to transform the way

Your CEO is a visionary who wants you to transform the way the company conducts business. She is fascinated by computer software for project management and requires that you conduct a SWOT analysis of this service in rel ...

Final project frameworkin order to fulfill all parts of

Final Project Framework In order to fulfill all parts of this assignment, you must complete and submit the Assignment Worksheet. This assignment is meant to help you get your Final Project started by: • Focusing on your ...

Assignment lasa - final project reportprepare an 8-10-page

Assignment: LASA - Final Project Report Prepare an 8-10-page report in Word. This report should include a project history of your recent Trillo Apparel Company District 4 Production Warehouse Move experience over the las ...

Fundamentals of project managementdefining the projectusing

Fundamentals of Project Management Defining the Project Using the South University Online Library or the Internet, research, select, and scope out any project of your choice. The project you select must meet the followin ...

Assessment 1 - project workpart aoverviewyou are required

ASSESSMENT 1 - PROJECT WORK Part A Overview You are required to develop a project management plans, for given scenarios. These project plans requires you to: - Implement start-up activities through updating and confirmin ...

It project management techniques assignment-task - team

IT Project Management Techniques Assignment- Task - Team Project Management Plan This assessment task relates to the following course objectives: Identify traditional and agile approaches and lifecycles for managing info ...

Project planthis assignment consists of three sections a

Project Plan This assignment consists of three sections: a written project plan, a revised Gantt chart or project plan, and a project plan PowerPoint presentation. You must submit the three sections as separate files for ...

Questionusing the balanced scorecard approach as detailed

Question: Using the balanced scorecard approach as detailed in Chapter 14 (Figure 14.1), identify 4 key metrics that you would propose for your organization's supply management system and how you propose to measure those ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate