32. Please identity what technique is being described in each of the following scenarios (possible answers are network diagram, interviewing probability/impact matrls, workaround top 10 risk tracking, brainstorming was, risk register, decision tree, earned value management, Gott chart, SWOT analysis) a. As the PM on a project in your organization, while you are doing your planning activities, you assemble a document that contains a list of the risks that you have identified on your project. Your document identifies the risk, gives a description of the disk and identifies the triggers to watch for that might indicate this risk is happening. Identifies the owner of the risk, shows the status of each risk, as well as several other characteristics for each risk. The tool that you are using here is a _risk register b. You decide that the best way to get information on your project is to sit down face to face with the users of the product that you are developing. You will be communicating with them one on one trying to understand the facts about the current needs and requirements of the product. You have created a list of people to communicate with and a general script to follow when trying to learn about their experiences, cuirements and preferences. You will try to follow the general flow of the script, but if you find a particular point of interest, you are free to explore that idea with the user. You are doing Interviewing While work is progressing on your project in the execution phase you have a situation come up that was not planned for. Since this event was not expected, you did not create a contingency plan for it. In este se proceed with the project, you assemble a focused team to determine a way to respond to this risk that has materialized. Your team's response to this unplanned risk event is called a workaround d. You are an experienced Project Manager in your industry. For your upcoming project, you have completed your research of the organization, the industry, the culture, the business needs, and the capabilities. Inter de try to get a comprehensive list of the risks on the project you evaluate the project based on Internal and external criteria. The external criteria will involve the factors that threaten the project and that will give the project an opportunity to success. When you explore the factors internal to the project, you will observe the challenges that exist within the project environment and the places where your project offers a strong capability. You are doing SWOT analysis As the project manager for the act you assemblea group of Subject Matter Experts (SME's) on your project. You and this group of SMEs discuss each risk that has been identified for the project and you Identify its relative likelihood of happening. Your team also then discusses what affect each risk will have on the project, it's influence and repercussions and rate them on their relative magnitude. After you have completed this exercise with the team, you are then able to place the risks on a chart showing visually their consequences versus their likelihood. You have created a probability impact matrix a 1. During your project you bave to determine which solution you should pursue to a problem. Ingiderte do this, you draw a diagram with the opportunity that each branch presents as well as the probability that the branch is the result of your activities. Then, in order to make the decision on which solution to pursue, you add up the anticipated dollars that you will realize if you pursue that solution. This method of quantitative analysis is called_decision tree You are an experienced facilitator trying to determine all of the potential unknowns on a project. You assemble a team of key resources in a meeting space. You have the attendees generate as many possible ideas as you can while you continue to probe the group to keep the ideas flowing. You do not evaluate or judge these ideas during this exercise. You only promote the creation of lots of ideas through creativity and experience. You are doing brainstormine h. On your project, in order to track which risk elements are the most significant and to ensure that you are monitoring the most significant risks, each week you identify a set number of risks and rate them in order of their significance to the project. You then track the placement of these risks over the life of the project. This method of keeping track of risks is called__top 10 risk tracking 33. Please use this information for the next 3 questions. You are managing a project to create a new product for your company. You have come to a point in the project where there has been an unexpected challenge come up, where you are going to have to redesign one component of the assembly. You have come up with 3 options: You could terminate the project. In order to terminate the project you will have to pay the designers a fee to end their contracts early. This is a 100% chance of baeceniog.jf you terminate the project You could take internal engineers from other product lines and use their time to complete the redesign. If you use your internal engineers there is a 60% chance of success, because this is not their core area of expertise, but they are very competent engineers and if successful will create $60,000 in revenue. If you use your internal engineers, there is a 10% chance that they will badly fail at your project and cost you $50,000 because you will be left paying for consultants to clean up their efforts. There is also a 30% chance that they will succeed, however you will see less of a return at $20,000 because it will take them longer to get the product to market, which will cost You could hire contractors to complete the redesign. They will have a good chance of success at 75%, because of their specific expertise in this area. This option will yield $40,000 because the contractors are slightly more expensive than our personnel. There is also a 25% chance that it will take the contractors a long time to do the redesign due to a couple tricky situations, which would cause the project to lose $20,000 due to the extra time that will be invested You have decided to make your decision in this situation based on the Expected Monetary Value of the outcome. You created the chart below: you sales