FORMATIVE ASSESSMENT 2 [100 Marks] Important: Students are requested to read widely and answer the following questions on project management. Furthermore, students are required to integrate theory and practice in their answers. The examiner will take into consideration the links to theory and practice and finally the synthesis of the discussion Students should support their discussions with tables, figures and graphs where possible TASK You are a project manager at Telkom. Your manager asked that you manage a project that entails the building of a telephone exchange in Johannesburg, Gauteng. The exchange will feed the businesses in the Johannesburg central area. In light of past project failures, your manager has requested that you afford extra attention to the risks associated with the project. There is no room for failure as the customers are expecting service on the promised date. Analyse the following questions and develop your response to each one by clearly showing how you wil manage the project using sound project management principles Answer ALL the questions in this section Question 1 (20 Marks) Project risk management principles acts as a yardstick to a project manager. For your project, discuss the risk management a principles that you will be taking cognisance of so as to prudently manage your project risks Question 2 (20 Marks) Project risks should be identified at the planning stage of the project. Identify the risks associated with your project and show which part of the project lifecycle they are expected to occur. Question 3 20 Marks Having defined your business objectives by the work breakdown structure, the next step is to identify what areas of risk, uncertainty and triggers could prevent you from achieving these stated objectives. Discuss the techniques that you will use to identify your project risks Question 4 20 Marks Having idented the various possible risks inherent in the project, the next step is to assess these risks. Risk assessment involves determining the likelihood that the risk event will occur and the degree of impact the event will have on the project objective. There are those risks, however, that pose serious threats to the welfare of the project. Using an appropriate table for risk assessment, record at least 10 risks. Thereafter justify your assessment of each risk FORMATIVE ASSESSMENT 2 [100 Marks] Important: Students are requested to read widely and answer the following questions on project management. Furthermore, students are required to integrate theory and practice in their answers. The examiner will take into consideration the links to theory and practice and finally the synthesis of the discussion Students should support their discussions with tables, figures and graphs where possible TASK You are a project manager at Telkom. Your manager asked that you manage a project that entails the building of a telephone exchange in Johannesburg, Gauteng. The exchange will feed the businesses in the Johannesburg central area. In light of past project failures, your manager has requested that you afford extra attention to the risks associated with the project. There is no room for failure as the customers are expecting service on the promised date. Analyse the following questions and develop your response to each one by clearly showing how you wil manage the project using sound project management principles Answer ALL the questions in this section Question 1 (20 Marks) Project risk management principles acts as a yardstick to a project manager. For your project, discuss the risk management a principles that you will be taking cognisance of so as to prudently manage your project risks Question 2 (20 Marks) Project risks should be identified at the planning stage of the project. Identify the risks associated with your project and show which part of the project lifecycle they are expected to occur. Question 3 20 Marks Having defined your business objectives by the work breakdown structure, the next step is to identify what areas of risk, uncertainty and triggers could prevent you from achieving these stated objectives. Discuss the techniques that you will use to identify your project risks Question 4 20 Marks Having idented the various possible risks inherent in the project, the next step is to assess these risks. Risk assessment involves determining the likelihood that the risk event will occur and the degree of impact the event will have on the project objective. There are those risks, however, that pose serious threats to the welfare of the project. Using an appropriate table for risk assessment, record at least 10 risks. Thereafter justify your assessment of each risk