Homework 3 pjm5800

1. Define risk in a project management context.

2. Identify the different sets of risks that have the potential to affect project procurements.

3. Describe the different types of risk that can affect project procurements.

4. Explain the entire procurement risk management process.

5. Define the term negotiation in a project management context.

6. Describe the strategies and techniques recommended by experts for successful negotiations.

7. Review Case Example 1: Shopping for a car from Chapter 1 and explain what was done well and what was not done well during negotiations.

8. Explain what a win-win negotiation is.

9. Base on your experience, do you believe that it is always possible to achieve a win-win negotiation.  Discuss.

10. Read the article “The Need for Negotiations” and describe some of the best practice negotiation strategies mentioned by the author.