Project risk

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  • The projects that motivated initial development of many of the ideas in this book were primarily large engineering projects in the energy sector: large-scale Arctic pipelines in the far north of North America in the mid-1970s, BP’s North Sea projects from the mid-1970s to the early 1980s, and a range of Canadian and US energy projects in the early 1980s. In this period the initial focus was ‘the project’ in engineering and ...

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  • A Project Risk Management Plan is a controlling document that incorporates the goals, strategies, and methods for performing risk management on a project. The Project Risk Management Plan describes all aspects of the risk identification, estimation, evaluation, and control processes. The purpose of developing such a plan is to determine the approach for cost-effectively performing risk management on the project.

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  • The risk management processes described in this book had their genesis well over 20 years ago when I accepted a position at the University of Southampton. There I met and worked with Dr Chris Chapman, already an acknowledged expert in project risk, with an established relationship with BP and an extensive client base in Canada. Chris involved me in his consulting activities in North America, primarily associated with quantitative risk analyses of large projects in the hydroelectric and the oil and gas industries....

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  • Project Risk Management includes the processes concerned with conducting risk management planning, identification, analysis, responses, and monitoring and control on a project; most of these processes are updated throughout the project.

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  • Where the possible values could have significant impact on project’s profitability, a decision will involve taking a risk. In some situations, degree of risk can be objectively determined. Estimating probability of an event usually involves subjectivity.

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  • To derive private cash flow, we begin by calculating overall project cash flow.The private cash flow is the cash flow on the investor’s own funds or ‘equity’.

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  • In the military, you cannot fight a battle without ammunition, guns, food and transport. This is an aspect of logistics. Similarly, you cannot run a project without certain requirements, e.g. you cannot develop a curriculum without a budget, subject experts, students to benefit from the curriculum, and so forth. Project Risks Project risks are the anticipated and unanticipated obstacles that might arise in the course of a given project. A risk analysis is conducted in order to isolate the most likely ones, and involves answering the question: “What could go wrong?” ...

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  • Cùng tìm hiểu Estimating cash flows; Capital budgeting with risk issues; Project risk analysis; Managing risk with staged-decision được trình bày cụ thể trong "Bài giảng Management theory and practice Financial: Chapter 11". Mời các bạn cùng tìm hiểu và tham khảo nội dung thông tin tài liệu.

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  • Mẫu này là một tài liệu điều hành mà hợp nhất các mục tiêu, chiến lược và phương thức cho quản lý rủi ro dự án một cách hiệu quả. Kế hoạch miêu tả tất cả những khía cạnh của xác định rủi ro, ước lượng, định giá, và điều chỉnh các quá trình. Mục tiêu của phát triển là kế hoạch để xác định phương thức quản lý chi phí rủi ro dự án một cách hiệu quả.

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  • Chapter 5: Risk Management. Risk management is one of the most important areas of project management that must be considered. Companies that want to compete with one another have adopted project management as a method of managing their companies. They have had to learn how to define and control project scope, schedule, and cost as baselines, and they have had to learn all of the control elements necessary to make successful projects. But many of these companies have yet to learn to manage the risks involved in managing a project.

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  • Project management is a set of tools, techniques, and knowledge that,when applied, helps you produce better results for your project. Trying to manage a project without project management is like trying to play football without a game plan.

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  • What makes the second edition different?” That’s my first question when I see a second edition. Project management hasn’t changed too much since the first edition, so this edition is primarily justified with additional content.

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  • Chapter 15a: Question about RISK MANAGEMENT 1. A project manager discovers that there is a part of the project that contains some risk. His strategy with this risk is to subcontract the work to an outside supplier by using a firm fixed price contract. Which of the following must the project manager do? a. The project manager should make certain that the project team does not reveal the risk to the supplier until the contract is signed. b. The project manager should make every effort to make sure that the supplier is made aware of the risk after the contract is...

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  • Chapter 17a: Question about CONTRACTS AND PROCUREMENT 1. A project manager must make a narrative description of the project. This narrative description covers the items that will be supplied under the contract with the client. It is called: a. b. c. d. The project plan. The statement of work. The exception report. The progress report. 2. A project manager discovers that there is a part of the project that contains some risk. His or her strategy with this risk is to subcontract the work to an outside supplier by using a firm fixed price contract. Which of the following is true? a....

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  • Chapter 15b: Answer key about RISK MANAGEMENT 1. Answer: c In a fixed price contract the supplier is obligated to deliver the contracted-for item at a fixed price. The supplier is aware of the risk and will put an allowance for the risk in the contracted price. This often means that the project team will pay the supplier for the cost of the risk regardless of whether the risk occurs. 2. Answer: a Risk avoidance is eliminating the risk from consideration by doing something that will eliminate it as a possibility. Risk acceptance is allowing the risk to happen and...

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  • THE ROLE OF PROJECT APPRAISAL: To stop bad projects; To prevent good projects from being destroyed; To determine if components of project are consistent; To assess the sources and magnitudes of the risks; To determine how to reduce risks and efficiently share risks

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  • Companies face risks every day, they are part of normal business life. There are many risks — both threats and opportunities — which may impact on a company‘s resources, projects and profitability. Risk means different things to different businesses and organizations. Undoubtedly, the risk represents both a potential threat and potential opportunity for businesses. Every business and decision involves a certain amount of risk. Risk might cause a loss to a company. This does not mean, however, that businesses cannot take risks.

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  • This helpful guide offers explanations of everything needed to get started in project management including: how to initiate a project and lead the project team, how to structure the project and plan for resources, how to monitor and track the plan, and how to close out the project. Packed with practical advice, this book includes tips to increase success, reveals common pitfalls to avoid, and presents case studies to show and why project management actually works.

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  • Chapter 3 RISK PLANNING.A risk is a known unknown. This means that it is something that we can predict might happen, but we are not sure whether or not it really will happen. We may also not know when it might occur. We know about it, but it is unknown whether or not it will occur.

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