Question 31 (16 points) Nerds, Inc. has performed a risk analysis exercise for project Gonzo. A summary of the assessment matrix and response matrix are shown below. They have identified a set of alternative mitigation strategies and contingency plans but these not considered as desirable as the original ones. There is always the option of "accepting" the risk which costs nothing for a mitigation plan. If you accept there still must be a contingency plan. There is a total of $100,000 in management reserves for this project allocated for risk response. How would you allocate the management reserves for this project among the alternatives. Specify which mitigation strategy you would do (Original, Alternate or "Accept") and which contingency plant (original or alternate) for each risk. Risk Relative Event Importance Priority Mitigation A C D 50 40 20 5 Alternate Contingency Plan Mitigation Alternative Strategy Budget Strategy Budget Strategy Contingency Plan "Accept" Budget Cost Budget 10.000.00 $ 20,000.00 $ 5,000.00 $ 10,000.00 $ $ 30,000.00 $ 50,000.00 $ 15,000.00 $ 40,000.00 $ $ 5,000.00 $ 1,000.00 $ 7,500.00 $ 2,000.00 $ $ 20,000.00 $ 10.000.00 $ 15,000.00 $ 5,000.00 $ 2 3 4 Question 32 (5 points) In planning your project, you recognize that you need a compound lag relationship such as that shown in figure 6.19. There, it shows a finish-to-finish lag of 4 and a start-to-start lag of 2. How does Microsoft Project handle this? What happens in you try to create this compound relationship between 2 tasks? Question 31 (16 points) Nerds, Inc. has performed a risk analysis exercise for project Gonzo. A summary of the assessment matrix and response matrix are shown below. They have identified a set of alternative mitigation strategies and contingency plans but these not considered as desirable as the original ones. There is always the option of "accepting" the risk which costs nothing for a mitigation plan. If you accept there still must be a contingency plan. There is a total of $100,000 in management reserves for this project allocated for risk response. How would you allocate the management reserves for this project among the alternatives. Specify which mitigation strategy you would do (Original, Alternate or "Accept") and which contingency plant (original or alternate) for each risk. Risk Relative Event Importance Priority Mitigation A C D 50 40 20 5 Alternate Contingency Plan Mitigation Alternative Strategy Budget Strategy Budget Strategy Contingency Plan "Accept" Budget Cost Budget 10.000.00 $ 20,000.00 $ 5,000.00 $ 10,000.00 $ $ 30,000.00 $ 50,000.00 $ 15,000.00 $ 40,000.00 $ $ 5,000.00 $ 1,000.00 $ 7,500.00 $ 2,000.00 $ $ 20,000.00 $ 10.000.00 $ 15,000.00 $ 5,000.00 $ 2 3 4 Question 32 (5 points) In planning your project, you recognize that you need a compound lag relationship such as that shown in figure 6.19. There, it shows a finish-to-finish lag of 4 and a start-to-start lag of 2. How does Microsoft Project handle this? What happens in you try to create this compound relationship between 2 tasks