Question.3093 - Refer to the three risk response strategies (avoid, mitigate, and transfer) in the Module Nine lecture document. Discuss with examples, how you implemented at least two of those strategies in the projects you managed.
Answer Below:
Risk xxxxxxxx strategies xxx the xxxxxxxxxx we xxx make xx dealing xxxx the xxxxx we xxxx identified xxx quantified xxxxx are xxxxxxxxx types xx risk xxxxxxxx strategies xxxxx Mitigate xxx amp xxxxxxxx The xxxxxxxxxxxx Industry xx a xxxx risky xxxxxxxx and xxx risk xxx result xx huge xxxxxxxxx losses xx the xxxxx are xxx managed xxx such xxxx I xxxxx was xxx fluctuation xx prices xx raw xxxxxxxx This xx a xxx risk xxxxx the xxxxxxx are xxxxxxxxx for xxxxx project xxx any xxxxxx might xxxxxx in xxxx for xxx project xxxx risk xxx be xxxxxxxxxxx by xxxxxxxx into xxxx term xxxxxxxxx with xxxxxxxxx regarding xxx supply xx materials xx a xxxxx price xxxx in xxxx situation xxx risk xx price xxxxxxxx is xxxxxxxxxxx on xxx suppliers xxx dependence xx one xxxxxxxx can xxxxx be xxxxx if xxx supplier xxxx not xxxxx upto xxxxxxxxxx Thus xx this xxxxxxxxx the xxxx can xx Mitigated xx having x consortium xx suppliers xx that xxx dependency xx one xxxxxxxx is xxxxxxxxx Avoid xxxx response xxxxxxxx is xxxx plan xxxxxxxxx to xxxxxxxx risks xx threats xxxxx avoidance xxx attempt xx overcome xxx risk xxxxx by xxxxxxx away xxxx it xx eliminating xx altogether xxx do xxxxxxxxx in xxxx plan xx that xxx risk xxxxxx won xxx t xxxxx For xxxxxxxx if x construction xxxxxxx has x risk xxxx the xxxx truck xxx amp x be xxxxxxxxx on xxxx and xxx project xxxxx be xxxxxxx and xxxxx lost xxxxxxx you xxxxx hire xxxxxxx more xxxxxxxx vendor xx provide xxx dump xxxxx Transfer xxxx of xx understand xxxxxxxxxxxxx pay xxxxxxx to xxxxxxx against xxx risk xx possible xxxxxx Risk xxxxxxxxxxxx is xxxxxxx response xxxxxxxx used xx plan xxxxxxxxx for x negative xxxx or xxxxxx Here xxx transfer xxx responsibility xxx the xxxx to xxxxxxx else xx project xxxxxxxxxx insurance xx one xxxxxxxxxxxx response xx a xxxx bur xxx might xxxx plan xx transfer xxx risk xx hiring x vendor xxx is xxxx adept xx performing xxx work xxx example xx a xxxxxxxxxxxx project xxx general xxxxxxxxxx usually xxxxxxxxxxxx building xxxxxx to xx electrical xxxxxxxxxx This xxxxxxxxx the xxxx of xxxxx the xxxx from xxx general xxxxxxxxxx to xxxxxxx electricians xxxxxxxxxxxx does xxx necessarily xxxxxxxxx the xxxxxxx fact xxx party xxx takes xx the xxxx carries xxxxx own xxxxxxxxx Without xx your xxxxxxx could xxxxx suffer xxxxx consequences xx the xxxx occurs xxxxxxxxxx Risk xxxxxxxx n x Retrieved xxx from xxxx mis xxx edu xxxxxxxx resources xxxxxxxxxxxxxxxx projmgmt xxxxxxx PMPWBSection xxxMore Articles From Project Management
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