Using a project drawn from your own experience, discuss the following:
(a) What are the two primary stages of risk management of a project?
(b) What are the four possible choices in allocating the risks of a project? Give a concise explanation of those four choices.
(c) What are the sources, effects and four types of risks in the engineering projects?
(a) Project Management requires three significant activities, estimation, namely planning and scheduling. Discuss the differences between them.
(b) Scheduling of projects is extremely challenging. What are some of the common problems which push projects beyond their due dates?
(c) “Allocating extra resources to a project which can’t be completed on target, allows it to catch up with its project schedule”.
Do you agree with this statement?
(a) Discuss the significance of each stages of the project life cycle.
(b) “Assumptions make estimates more accurate”. Do you agree with this statement?
(c) Outline some of the management principles that Project Managers require to adopt while managing a project team.