1. Project risk management is the process of identifying, analyzing, and then responding to any risk that arises over the life cycle of a project to help the project remain on track and meet its goal. As a project manager, how would you manage the risks? What type of risks can be part of a project and what steps you would take to eliminate all those risks? Draw a complete cycle by elaborating on your actions.

2. Explain the quantitative risk analysis process and how to apply decision trees, simulation, and sensitivity analysis to quantify risks.

3. List and discuss primary sources of risks in projects. Provide examples and explain when these risks are likely to occur. How do project schedule evaluation and critical path methodology aid in identifying these risks?

Answer rating: 100% (QA)

1 Project risk management is an essential process that project managers must undertake to ensure that their projects remain on track and meet their goals The first step in managing project risks is to ... View the full answer