Ref 4

Assigned Readings:

Chapter 7. Risk Management 

Chapter 8. Cost Estimation and Budgeting 

Also, provide a graduate-level response to each of the following questions:

1. Give some examples of projects using each of the risk mitigation strategies (accept, minimize, share, or transfer).  How successful were these strategies?  In hindsight, would another approach have been better?
2. Consider the following observation: “The problem with risk analysis is that it is possible to imagine virtually anything going wrong on a project. Where do you draw the line? In other words, how far do you take risk analysis before it becomes overkill?” How would you respond?