It is important to apply various risk assessment tools, such as the probability theory, to business circumstances in relation to project management decision making.

Using what you have learned this week, do the following:

1. Defin Project Management Office (PMO) and discuss the various forms of PMOs
2. Discus how project organization structure (e.g., matrix, functional, or projectized) may influence project risk management
3. Explai how a PMO can implement processes to mitigate the following:
   • Schedule risks
   • Costs risks
   • Resource capacity risks