Question: A project team is considering using a newly developed material on its project. There would be a considerable cost savings achieved by using this material,

A project team is considering using a newly developed material on its project. There would be a considerable cost savings achieved by using this material, but the quality of the material is unknown. To prevent possible rework in the future, the project team chooses not to use this material. What risk response strategy is being used?

Step by Step Solution

★★★★★

3.46 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

The risk response strategy being used by the project team is Avoidance In risk management a... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Risk Analysis and Management of Construction and Operations in Offshore Wind Power Project Abstract: Many countries have increased the use of renewable energy and strongly promoted offshore wind...

Googles ease of use and superior search results have propelled the search engine to its num- ber one status, ousting the early dominance of competitors such as WebCrawler and Infos- eek. Even later...

State Einstein's postulates of the special theory of relativity. ii. Write down Einstein's mass-energy equivalence formula. iii. In the case of two inertial frames of reference, S' moving at a...

Build a WBS for one of the chapter case study projects other than asset management; either customer relationship management or Collection Management. The Project should use an iterative approach and...

Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts. See: Understanding the Marketplace and Customer Needs ( pp 2630 ) OBJECTIVE

1. Offer surprise rewards for good participation in class.

Strutledge (see Case Problem 1.3) is a small liberal arts college faced with rising costs and decreasing enrollments. It would like to increase revenues (including tuition, donations, and grants) by...

2 Listen Based on the following chart: What is the probability of sales of 140? Sales Cum Prob In January Freq (Days) Prob 0 100 120 140 160 180 1).12 2) 0 3).36 4) 44 3 8 9 4 1 25 Question 3 (1...

show the possible nested loops projects that might come in exam 1 ?

3.Fresh Foods wants to decrease the total cost of guava. Identify three costs areas - other than price - that Fresh Foods to focus on to decrease total cost. Explain why you choose those cost areas....

i.Suggest at least THREE (3) kinds of analytics and machine learning algorithms that Champo Carpets can use to solve their problems, and in general, for value creation. ii.Explain the data strategy...

While traveling on an assignment that is being paid for by your employer, you visit an area in which you would really like to live but can never find time to visit on your own. You have five days to...

5. Case Study 2. Gojek and Grab Strategy The case study below explains that there are 2 industries that provide on-demand services, Gojek and Grab. Both are fiercely competitive in the same market in...

Why Co-Branding is an important strategy for the marketers? How does it work? Discuss with the help of some examples. How you can differentiate between brand extension and line extension? Discuss...

Which of the following is true regarding universal grammar? q , it holds that languages at a fundamental level are not different from one another it is considered as a collection of language rules...

TRUE-FALSE QUESTIONS 1. In terms of preliminary analytical procedures, assume that the company has introduced a new product with a low price point and significant customer demand. The auditor would...

In late 2004, British fashion designer Sara Berman received an unexpected telephone call from Andrea Ragnetti, chief marketing officer for Royal Philips Electronics. Figuring the Dutch company wanted...

In 1943 a 17-year-old Swedish boy started what was to become a multibillion euro company by selling work pants and other farm supplies door-to-door. Ingvar Kamprad began selling farm implements under...

A professor and her husband, while on vacation in eastern Europe, found some beautifully handcrafted, fired-clay figurines for sale in Budapest. Displayed by the artist in a stall in a small open...

17. How do the pain-relieving effects of cannabinoids differ from those of opiates?

18. How do ibuprofen and other nonsteroidal anti-inflammatory drugs decrease pain?

2. What are the special difficulties of studying the evolution of behavior, given that behavior doesnt leave fossils (with a few exceptions such as footprints showing an animals gait)pg99