Question 3 (a) Define risk in the context of projects. (b) (c) (d) Demonstrate if risk...
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Question 3 (a) Define risk in the context of projects. (b) (c) (d) Demonstrate if risk management is a proactive approach or a reactive approach. Differentiate between avoiding a risk and accepting a risk. Further illustrate this with relevant examples. Your team is embarking on a simple project to bake a cake. Your team lists the following possible risks. Poor air quality due to build-up of heat in kitchen. 1. 2. 3. 4. Injury from lifting of heavy items. Burn from hot appliances. Fire from either appliances or ingredients. Based on these four risks, construct a simple Risk Assessment Form with THREE (3) parameters. Question 3 (a) Define risk in the context of projects. (b) (c) (d) Demonstrate if risk management is a proactive approach or a reactive approach. Differentiate between avoiding a risk and accepting a risk. Further illustrate this with relevant examples. Your team is embarking on a simple project to bake a cake. Your team lists the following possible risks. Poor air quality due to build-up of heat in kitchen. 1. 2. 3. 4. Injury from lifting of heavy items. Burn from hot appliances. Fire from either appliances or ingredients. Based on these four risks, construct a simple Risk Assessment Form with THREE (3) parameters.
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a Risk in the context of projects can be defined as potential problems or adverse events that could occur during the project lifecycle and impact the ... View the full answer
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078025778
17th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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