Risk and Budget Management

"Risk management should be a planned activity and not regarded as an activity given cursory attention."

Based on your understanding of the topic, create a report in a Microsoft Word document to express your views on the following:

• If you determine a type of risk inherent to completing a project, how will you respond to the situation? Move out of the project immediately or analyze the risk and begin taking steps to respond to the risk. Discuss.
• As we discussed in previous weeks, there are five main process groups of a project:
• Initiating
• Planning
• Controlling
• Executing
• Closing

Quality control should be important during each of these phases of the project. What are some of the types of quality control measures that should be taken with each of these process groups?

• What are some of the tools you can use to ensure quality throughout the project?