Question: 1. Why do many people inflate their estimates? Does adding safety, in terms of an inflated estimate, to each task or activity ensure that the

1. Why do many people inflate their estimates? Does adding safety, in terms of an inflated estimate, to each task or activity ensure that the project will be completed as scheduled? Why or why not? How does Critical Chain Project Management overcome the practice of inflated estimates through the use of buffers?

2. Define project risk management. List and describe the six project risk management processes. Define and discuss the four risk strategies described in this chapter.

3. Define Project Scope and provide an example of a scope statement for a project of your choosing. Describe a scope management plan and the types of challenges that arise in maintaining a project scope.

4. What is the purpose of a stakeholder analysis in Project Management? How might you categorize stakeholders and how might this influence your CommunicationsPlan?

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