Question: Paraphrase this statement: To rationalize the values being assigned. Let us consider the positive and negative risks: Negative risks such as 'key members leaving the

Paraphrase this statement: To rationalize the values being assigned. Let us consider the positive and negative risks: Negative risks such as 'key members leaving the organization'. With proper budget allocation for the budget which includes the cost of an employee (salary) and other incentives, the chances of an employee leaving are medium therefore the value assigned is six. However, if in case the employee leaves the impact is high therefore the effect on the overall project is high due to delays in reassigning the tasks and finding the replacement. The project will not stop due to an employee leaving it midway but nevertheless the impact is high hence the value assigned is eight. Positive risks such as 'reduced consulting costs. Normally the project manager, Tony Prince, is the one who deals and talks with the contractors' group; to get a better deal the Tony Prince must know the organization well enough to negotiate a better price. The probability of the Tony Prince not knowing about the organization is low therefore the value assigned is two. However, if a better deal was not signed, the impact on the project is low therefore the impact value is two

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
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!