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9/19/2020 Originality Report

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Source Matches (13)

Introduction

According to the textbook more than 85% of projects usually go over the estimated budget. As a result of this, numerous business owners and managers have

diverse personal theories but after following each one of them, it all comes down to, changes in project. Technically speaking, these changes in projects tend to be arguably some of the biggest project contributors that blow schedule deadlines in addition to going above budgets. They are normally advised to implement both the quantitative and qualitative methods to achieve utmost productivity. These changes could alter the original agenda as well as financial plan; nonetheless, if one

has an appropriate change organization and pursuing procedures in place, a project cost overrun may not even be obligatory (Gray & Larson, 2021). They will only have to modify the duration and size of the project. Summary of the article

From the article, the process of project development is a crucial constituent of diverse highway projects. The scope of a project is the part of planning a project which consists of documenting as well as determining a list of distinct project deadlines, tasks, functions, features, deliverables, goals, as well as costs. This means that the scope is what is supposed to get attained and the work which ought to get done to deliver a given project. Undertaking a risk analysis consists of the probability of adverse events which result from natural concerns such as severe floods, earthquakes or storms or adverse impacts caused by inadvertent or malicious human undertakings (Le, et.al, 2009). That is, it is a process which not only identifies but also analyzes some of the potential concerns which could negatively affect some of the fundamental business projects or initiatives. Relevant points made by the author

In addition to the above information, qualitative risk assessment helps in studying regulatory control or rather an event which is essential in the comprehension of the quality of its implementation. Here, decisions are normally made regarding the effects to the company in case the control does not get incorporated as well as the probability that this control gets to be exercised (Le, et.al, 2009). The use of qualitative method in risk assessment can help in evaluating the organization based upon a specific piece or standard of guidance. On the other hand, the aspect of quantitative risk assessment is helpful in coming up with better decisions. In the information technology environment, quantitative risk assessment is highly recommended for security maturity models that are higher to get attained. Also, it is compulsory if the organization wishes to implement the concept of risk management in a more serious way. Nonetheless, there are certain times where a given company is required to measure their risks basing upon a certain set of regulatory controls. In this case, the quantitative method is not appropriate for this kind of risk calculation. Rather, the assessors of risks tend to use the qualitative method. “In a nutshell, Quantitative Risk Analysis uses available data to produce a

numerical value which is then used to predict the probability (and hence, acceptability) of a risk event outcome. Qualitative Risk Analysis, on the other hand,

applies a subjective assessment of risk occurrence likelihood (probability) against the potential severity of the risk outcomes (impact) to determine the overall severity of a risk” (Le, et.al, 2009). Critique of the article

The concept of project management is essential when it comes to facilitating different companies to both forecast as well as oversee some of the completion dates for every stage of a project or any initiative in which they complete within the given scale, in the customary budget plus on the set time. The article shows that project management aims at facilitating that things are somewhat easy to manage thus reducing the complexity that may be unnecessary. Truth be told, some of these projects have lend themselves in a readier way and there has not been any methodology which gets considered best for each project. Application of the concepts in the article

Program Evaluation Review Technique, that is, PERT is a control and planning tool which gets used for controlling as well as defining the tasks which are essential

in completing a given project. PERT charts tends to display the entire project with all the tasks which get scheduled in a sequential manner (Gray & Larson, 2021). Some of its benefits include: 1. Offers improved forecasting when it comes to the resource requirements. 1. Offers the probability of project completion beforehand and the expected time of completion. Conclusion

Project management is both the science as well as the art of using techniques, tools, skills as well as knowledge effectively and efficiently to meet the expectations and needs of stakeholders (Gray & Larson, 2021).

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In a project, the budget is the total amount of the monetary resources which get allocated for specific objectives and goals of a given project for a distinct time

period. This consists of work procedures which either plan, initiate, plan, control, execute and close work (Le, et.al, 2009). In the time of these processes, trade-offs are expected to be made among the factors like risks, resources, schedule, cost, quality (accepting the outcomes) and scope (features and size).

References

Gray, C. F., & Larson, E. W. (2021). Project management: The managerial process. New York, NY: McGraw-Hill Education. Tiendung Le, Caldas, C. H.,

Gibson Jr., G. E., & Thole, M. (2009). Assessing Scope and Managing Risk in the Highway Project Development Process. Journal of Construction Engineering &

Management, 135(9), 900–910. https://doi.org/10.1061/(ASCE)CO.1943-7862.0000052

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9/19/2020 Originality Report

https://ucumberlands.blackboard.com/webapps/mdb-sa-BB5a31b16bb2c48/originalityReport/ultra?attemptId=c3ab8d92-42dd-48b1-9cff-f1c5cda39359… 3/4

Student paper 100%

Student paper 63%

Student paper 93%

Student paper 90%

Student paper 85%

Student paper 80%

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Student paper

09/19/2020

Original source

04/19/2020

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Student paper

According to the textbook more than 85% of projects usually go over the estimated budget. As a result of this, numerous business owners and managers have diverse personal theories but after following each one of them, it all comes down to, changes in project. Technically speaking, these changes in projects tend to be arguably some of the biggest project contributors that blow schedule deadlines in addition to going above budgets.

Original source

According to research, more than 85 % of projects usually go over the estimated budget As a result of this, numerous business owners and managers have diverse personal theories, but after following each one of them, it all comes down to Technically speaking, these changes in projects tend to be arguably some of the biggest project contributors that blow schedule deadline in addition to going above budgets

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Student paper

These changes could alter the original agenda as well as financial plan; nonetheless, if one has an appropriate change organization and pursuing procedures in place, a project cost overrun may not even be obligatory (Gray & Larson, 2021). They will only have to modify the duration and size of the project.

Original source

These changes could alter the original agenda as well as the financial plan nonetheless, if one has an appropriate change organization and pursuing procedures in place, a project cost overrun may not even be obligatory They will only have to modify the duration and the size of the project (Harrison & Lock, 2017)

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Student paper

“In a nutshell, Quantitative Risk Analysis uses available data to produce a numerical value which is then used to predict the probability (and hence, acceptability) of a risk event outcome.

Original source

Quantitative Risk Analysis uses available relevant and verifiable data to produce a numerical value which is then used to predict the probability of a risk event outcome

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Student paper

Qualitative Risk Analysis, on the other hand, applies a subjective assessment of risk occurrence likelihood (probability) against the potential severity of the risk outcomes (impact) to determine the overall severity of a risk” (Le, et.al, 2009).

Original source

Qualitative Risk assigns numbers to risk and qualitative risk Qualitative Risk Analysis, on the other hand, applies a subjective assessment of risk occurrence likelihood (probability) against the potential severity of the risk outcomes (impact) to determine the overall severity of a risk (Watt, 2019)

9/19/2020 Originality Report

https://ucumberlands.blackboard.com/webapps/mdb-sa-BB5a31b16bb2c48/originalityReport/ultra?attemptId=c3ab8d92-42dd-48b1-9cff-f1c5cda39359… 4/4

Student paper 75%

mymanagementguide 84%

pb 100%

Student paper 100%

Student paper 100%

Student paper 100%

Student paper 90%

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Student paper

Program Evaluation Review Technique, that is, PERT is a control and planning tool which gets used for controlling as well as defining the tasks which are essential in completing a given project.

Original source

Program Evaluation Review Technique (PERT) is a planning and control tool used for defining and controlling tasks necessary to complete a project

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Student paper

In a project, the budget is the total amount of the monetary resources which get allocated for specific objectives and goals of a given project for a distinct time period.

Original source

A Project Budget is the total amount of monetary resources that are allocated for particular goals and objectives of the project for a specific period of time

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Student paper

McGraw-Hill Education.

Original source

McGraw-Hill Education

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Student paper

Tiendung Le, Caldas, C.

Original source

Tiendung Le, Caldas, C

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Student paper

H., Gibson Jr., G. E., & Thole, M.

Original source

H., Gibson Jr., G E., & Thole, M

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Student paper

Assessing Scope and Managing Risk in the Highway Project Development Process. Journal of Construction Engineering & Management, 135(9), 900– 910.

Original source

Assessing Scope and Managing Risk in the Highway Project Development Process Journal of Construction Engineering & Management, 135(9), 900- 910

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Student paper

https://doi.org/10.1061/(ASCE)CO.1943- 7862.0000052

Original source

https://doi.org/10.1061/(ASCE)CO.1943- 7862.0000344