Question: QUESTION 1 (36 Marks) Table 1: Risk Impact Matrix for a Construction Firm HIGH R3 R9 MEDIUM R8 R5 PROBABILITY LOW R6 R2 LOW MEDIUM

QUESTION 1 (36 Marks) Table 1: Risk Impact Matrix

QUESTION 1 (36 Marks) Table 1: Risk Impact Matrix for a Construction Firm HIGH R3 R9 MEDIUM R8 R5 PROBABILITY LOW R6 R2 LOW MEDIUM HIGH IMPACT Suppose that you are the Risk Manager for the above Construction Firm give an example of the risks in each of the rectangular box and briefly explain how you will respond to each of them (36 Marks: Note*: 1 Mark for each appropriate example and 3 marks for the appropriate response. Also note that the response should not merely state Treat/Tolerate/Transfer/Terminate but should include a brief statement of what to be done) R1 R7 R4

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!

QUESTION 1 (36 Marks) Table 1: Risk Impact Matrix for a Construction Firm HIGH R3 R9 MEDIUM R8 R5 PROBABILITY LOW R6 R2 LOW MEDIUM HIGH IMPACT Suppose that you are the Risk Manager for the above...

QUESTION 1 (36 Marks) Table 1: Risk Impact Matrix for a Construction Firm| HIGH R3 R9 MEDIUM R8 R5 PROBABILITY LOW R6 R2 LOW MEDIUM HIGH IMPACT Suppose that you are the Risk Manager for the above...

2006EHR Assignment - Workplace Audit / Inspection Introduction (introduction & Presentation worth 5 Marks) Recommend 2 paragraphs Paragraph 1 - Provide overview of workplace; what it is, where it is,...

Case Study You should read this case study carefully, then, refer back to it frequently while preparing your answers to each question. You are part of a small team developing mobile phone...

a quantitative risk assessment fo the top 30 risk events. Qualitative Analysis for 100 risk events Likelihood Factor: Likelihood that the risk event will occur Low: Unlikely or probability to occur....

You are a project manager at Fabulous-Houses-R-Us (FHRU) located in London, Ontario.You are assigned as project manager on the following project for the Falcon family (owner).FHRU is a general...

QUESTION 3 - RISKS ( TOTAL = 1 8 marks, 3 5 min ) 3 . 1 ) The project manager of an organization is tasked with the risk management portion of a project. The organization has already established...

CO6 - Create a comprehensive project plan that includes monitoring and controlling process groups, sustainability in project management, ethical considerations, and technology application. Project...

Supplies unused at the start of the year amounts to P3,150. During the year the company purchased P15,000 worth of these supplies. 80% of the supplies were used up. How much will be reported as...

In six sigma design, how can find the value of 3.4 defects per million opportunities DPMO statistically? When does it become 2 defects per billion opportunities (DPBO)?

According to Davidson, in the Bank War eventually led to a major financial crash in 1 8 3 7 . Question 5 options: TrueFalse

As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes...