Week 11
Week 10 Reflection Paper
You need to write this paper for 450 words for me and my girlfriend.
Chapter 10: Budgeting Projects.
This chapter deals with various issues and techniques involved in estimating project costs and establishing project budgets. After completing this chapter, each student should be able to perform the following:
Core Objectives:
Define project cost terms and tell how each is used in estimating project cost.
Compare and contrast analogous, parametric, and bottom-up methods of estimating cost.
Create a time-phased, bottom-up budget for a project.
Technical Objectives:
Show both summary and bottom-up project budget information with cumulative costs using MS Project.
Behavioral Objectives:
Describe issues in project cost estimating and how to deal with each.
Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.
Also, provide a graduate-level response to each of the following questions:
1. You are the project manager in charge of construction of a new school building. Give one possible example each of a known known, known unknown, and unknown unknown you might encounter.
2. Give an example of how a project manager could run into problems with cash flow, even when he is within budget on the overall project.
3.
Week 11 Reflection Paper
You need to write this paper for 450 words for me and my girlfriend.
Chapter 11: Project Risk Planning.
This chapter deals with identifying, assessing, and responding appropriately to all types of project risks. After completing this chapter, each student should be able to perform the following:
Core Objectives:
1. Describe how to plan for risk management, identify risks, analyze risks, and create response plans for identified risks.
2. Identify and classify risks for a project and populate a risk register.
3. Describe various risk assessment techniques and tell when each is appropriate to use.
4. Prioritize each risk on a project using an appropriate assessment technique and develop and defend at least one strategy for each of the high-priority risks.
5. Compare and contrast the various strategies for dealing with risks.
Behavioral Objectives:
1. Determine an individual’s propensity to accept risk and use that to strategize about which risks accepting.
2. Determine an organization’s propensity to accept risk and use that knowledge to strategize about which risks accepting.
Technical Objectives:
1. Select and utilize an appropriate quantitative risk analysis tool if qualitative risk analysis is not sufficient.
Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.
Also, provide a graduate-level response to each of the following questions:
You are hosting a large dinner party. What are two possible risks you would encounter? Identify at least one trigger for each.
Give an example of a risk you have chosen to accept on a previous project. How did you make the decision to accept it? In retrospect, was that the right decision to make?
Problem Set #11
You need to write this paper for me and my girlfriend & the Excel sheet is attached sepeately..
This week's exercise will be to create a Risk Register for the Week 2 Business Case that you have utilized throughout the semester. You will complete the attached Risk Register in Excel. A risk needs to be identified in each of your Key Deliverables (this would be listed under the Category column). This needs to be a thorough, well thought out risk register which provides detailed thought and consideration. An example of the Risk Register is available in Exhibit 11.9 on page 370 of the textbook.