Topic 1:

Select ONE risk management tool at a PM's disposal, and then:

1) Describe how you would apply that tool to managing aprocurementrisk.

2) Summarize what you think the strengths and weaknesses of that tool are.

Topic 2:

In answering this week's question, be sure to take a look at "Risk Management," Chapter 11 of the PMBOK.

Project procurement management doesn't exist in a vacuum and there are fewprojects in this world that doesn't involve some degree of risk. As if a project didn't have enough risk, the need to procure goods or services for the project may add yetmorerisk.The key is managing the risks so the gains are more probable than not. And there's a Dilbert for that: