Strayer BUS519 Full Course Latest 2020 JULY

BUS519 Project Risk Management

Week 1 Discussion

There is a lot of news about risk management in project management. Identify and discuss the one thing about risk management that concerns you.

 

BUS519 Project Risk Management

Week 2 Discussion

There are four critical success factors that are important for effective risk management: supportive organization; competent people; appropriate methods, tools, and techniques; and simple, scalable processes. Determine three obstacles for an organization to manage risk effectively. Suggest strategies from the perspective of a project manager to avoid the obstacles.

 

BUS519 Project Risk Management

Week 3 Discussion

One of the most important aspects of managing risk for a project is to accurately define the size of the project. Determine the criteria that must be considered to perform the project sizing. Create one additional factor with a rationale.

 

BUS519 Project Risk Management

Week 4 Discussion

Imagine you are considering opening a business. Share the type of business you would open. Then, create a list of the five most significant risks that you must address prior to making your decision regarding the viability of your venture. Justify the risks.

 

BUS519 Project Risk Management

Week 5 Discussion

Using the information presented in Practical Project Risk Management Figure 6-3, “Common Influences on Risk Perception,” determine the conscious factors, subconscious factors, and affective factors for this project. Examine how awareness of such factors influences the decision to hire outside vendors. In addition, analyze how the stated factors help improve the overall facilitation and effectiveness of the risk management.

 

 

BUS519 Project Risk Management

Week 6 Discussion

Review the Monte Carlo Analysis method presented in Chapter 15 in Practical Project Risk Management. Then, determine whether you would recommend to a project manager the use of this methodology for a large, complex project. Include an example to support your response. If you would not recommend the use of a method such as Monte Carlo, explain what you would recommend as an alternative tool that would allow the project manager to make informed decisions. Provide a rationale for your recommendation.

After posting your response, respond to at least one of your classmates on their suggestions.

 

BUS519 Project Risk Management

Week 7 Discussion

Evaluate your project management options in terms of schedule, performance, and cost for the following scenario. Support your evaluation.

An office building construction project in the southern Virginia area is 80% complete when a major hurricane strikes, stopping progress on the worksite for 10 days while damage is assessed and repairs are completed. The project has a fixed budget and a completion date that cannot be moved.

 

BUS519 Project Risk Management

Week 8 Discussion

In many risk programs, risks are managed individually. A robust risk program, however, considers the cumulative effect of all risks. Assess the following scenario and identify the effect of multiple events on a risk management strategy:

When the Titanic struck the iceberg, the weather was bad, the lookouts were not properly equipped, the radio operator was not monitoring other ship traffic in the area, and the ship design had a major flaw in the construction of the hull’s “watertight” compartments.

 

BUS519 Project Risk Management

Week 9 Discussion

Compare and contrast the differences in the ATOM methodology for large versus small projects. Analyze the key reasons why it is important to address these differences when preparing the initial project plan.

After posting your response, respond to at least one of your classmates on their suggestions.

 

 

BUS519 Project Risk Management

Week 10 Discussion

Debate whether the cost of utilizing ATOM for large projects is justified when an organization has limited resources to dedicate to risk management efforts. Provide a description that you would present to your managers to persuade them to see matters your way.

After posting your response, respond to at least one of your classmates on their recommendations.

 

BUS519 Project Risk Management

Week 11 Discussion

We have covered a lot of ground regarding project risk project management. Identify and discuss the one thing about project risk management that excites you after completing this course. What additional topics would you have liked to spend more time on? Why?

After posting your response, respond to at least one of your classmates on their selection and rationale.

 

BUS519 Project Risk Management

Assess Organizational Readiness

The assignments in this course are a series of papers that are based on the same case, which is located in the XanEdu tab in the left-hand menu of your course. The assignments depend on one another. Review the assigned case study and complete this assignment.

Write a 4–6 page paper in which you:

Analyze how the critical success factors (CSFs) apply to the facts of the case study. Provide examples to support your analysis.

Determine the project benefits, organizational readiness, and risk culture of the company in the case study. Provide justification for your response.

Develop at least three project risk recommendations based on your analysis.

Identify the initial categories of risk (RBS Level 1 and 2) that you see as being present in the case study using the Example Risk Checklist (Figure A-2, in Practical Project Risk Management).

Use at least three quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

Assess the critical success factors (CSFs), project benefits, organizational readiness, and risk culture of a company to inform the development of project risk recommendations.

 

BUS519 Project Risk Management

Risk Management Plan

Note: The assignments in this course are a series of papers that are based on the same case, which is located in the XanEdu tab in the left-hand menu of your course. The assignments depend on one another. In this assignment, you will create a risk management plan. You have a budget of $100,000 and a timeline of six months for the plan. Please refer to the Risk Management Plan Template (Figure A-1 in Practical Project Risk Management) to create the plan.

Write an 8–10 page paper in which you:

Prepare the scope and objectives of the Risk Management Process section of the Risk Management Plan, based on the facts presented in the case study.

Determine the project size, based on the facts presented in the case study, and provide justification based on the Example Project Sizing Tool (Figure 3-4 in Practical Project Risk Management).

Select the risk tools and techniques, and complete the Risk Tools and Techniques section of the Risk Management Plan for both the qualitative and quantitative aspects of the project. Provide a rationale for the selections.

Develop the Risk Reviews and Reporting section of the Risk Management Plan, based on the project size previously determined.

Define the Probability and Impacts section of the Risk Management Plan, and justify the values assigned.

Define the Risk Thresholds section of the Risk Management Plan, and justify the values assigned.

Use at least three quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

Create a risk management plan that includes justification to support your rationale.

 

BUS519 Project Risk Management

Risk Workshop and Risk Register

Note: The assignments in this course are a series of papers that are based on the same case, which is located in the XanEdu tab in the left-hand menu of your course. The assignments depend on one another.

Write an 8–10 page paper in which you:

Identify the required pre-workshop activities.

Prepare a risk workshop agenda based on the Sample Agenda for a First Risk Assessment/Two-Day Risk Workshop (Figure B-8 in Practical Project Risk Management). Include suggested time intervals for each activity and justify why each agenda item is relevant for this case.

Determine the top five threats in a risk register following the Sample Simplified Risk Register Format (Figure B-11 in Practical Project Risk Management). Include information from the case for each threat.

Justify the assignment of probability and impacts for each threat identified.

Document the top three opportunities in a risk register following the Sample Simplified Risk Register Format (Figure B-11 in Practical Project Risk Management). Include information from the case for each opportunity.

Justify the assignment of probability and impacts for each opportunity identified.

Use at least three quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

Create a risk register that assesses the probability of impacts for threats and opportunities and is informed by a risk workshop.

 

BUS519 Project Risk Management

PROJECT PROGRESS

Note: The assignments in this course are a series of papers that are based on the same case, which is located in the XanEdu tab in the left-hand menu of your course. The assignments depend on one another. During the project life cycle, project risk reviews and reports are required, as previously identified in the risk management plan. Two months after the project started, the following events have taken place:

The top two threats have occurred.

The top opportunity has been realized.

The project’s risk budget is already exhausted.

The risk management schedule has been shortened by two months.

Write a 4–6 page paper in which you:

Analyze the impact of the events on the project.

Determine if any mitigation activities are required, and explain why.

Determine if budget or schedule changes are necessary, and explain why.

Update the risk register and highlight the changes made. Provide the justification for the changes.

Use at least four quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

Assess the impact of events on the project’s progress in order to determine an appropriate risk response plan.

 

BUS519 Project Risk Management

Quiz 1

Question 1 Which of the following is an enterprise environmental factor that can affect the availability of resources and influence how projects are conducted?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Organizational communication

B Organizational process assets

C Organizational culture

D Organizational structure

Question 2 You are a project manager for Tech Perfect Inc. While studying the project, you find that there are too many stakeholders in the project. You are concerned about some influencing stakeholders. Which of the following process groups can be highly affected by stakeholder influence?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Initiating

B Closing

C Monitoring and controlling

D Planning

Question 3 Which of the following processes includes documenting requirements, budget, and work flow for the project?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Planning

B Initiating

C Closing

D Executing

Ben is the project manager of the YHT project for his company. Alice, one of his team members, is confused about when project risks will happen in the project. Which one of the following statements is the most accurate about when project risk happens?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Project risk is always in the future.

B Project risk can happen at any moment.

C Project risk is uncertain, so no one can predict when the event will happen.

D Project risk happens throughout the project execution.

For successful and timely completion, a project includes five phases. Which of the following phases defines internal and external stakeholders who will interact and influence the overall project outcome?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Executing

B Initiating

C Closing

D Monitoring and controlling

Which of the following process groups contains the lowest number of processes?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Executing and closing

B Executing and planning

C Initiating and closing

D Initiating and planning

Which of the following is a set of projects, programs, and related work that is managed in a coordinated fashion to achieve strategic business objectives in an organization?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Process

B Portfolio

C Project

D Program

Which of the following is an example of an intangible element in business value?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Stockholder equity

B Fixture

C Monetary asset

D Brand recognition

Which of the following phases includes processes to keep close track of project performance, changes, and risks?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Initiating

B Planning

C Executing

D Monitoring and controlling

Which of the following phases monitors the progress of the project to identify the variance from the plan and to correct it?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Monitoring and controlling

B Initiating

C Planning

D Executing

Explanation

Question In what portion of a project are risk and opportunities greatest and require intense planning and anticipation of risk events?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Closing

B Executing

C Planning

D Initiating

Explanation

Which of the following is a hierarchical organization where each employee has one clear superior and is managed by a person with expertise in that area?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Projectized

B Functional

C Composite

D Matrix

Explanation

Fran is the project manager in her organization. She reports to a project management office that takes control of the projects. Fran, through the PMO, will directly manage the project. Fran is a part of what type of PMO?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Controlling

B Directive

C  Functional

D Supportive

Explanation

 

BUS519 Project Risk Management

Week 2 Quiz  

Which of the following processes are included in the project risk management?

Each correct answer represents a complete solution. Choose all that apply.

This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Perform negative risk analysis

B Plan risk management

C Plan risk responses

D Control risks

Which of the following is the process of defining the way to conduct the risk management activities?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Plan risk responses

B Plan risk management

C Perform qualitative risk analysis

D Perform quantitative risk analysis

Billy is the project manager of the HAR Project and is in month six of the project. The project is scheduled to last for 18 months. Management asks Billy how often the project team is participating in risk reassessment in this project. What should Billy tell management if he is following the best practices for risk management?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Project risk management is scheduled for every month in the 18-month project.

B Project risk management has been concluded with the project planning.

C Project risk management is an agenda item at every status meeting.

D Project risk management happens at every milestone.

All of the following are included in the risk registers except for which one?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Network diagram analysis of critical path activities

B List of potential risk responses

C Trends in qualitative risk analysis results

D Symptoms and warning signs of risks

Which of the following is an input/output document that outlines exactly how risk management will be performed on a given project?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Risk management plan

B Project charter

C Technical documentation

D Project scope statement

Which of the following risk management methods is the conversion of risk data into risk decision-making information?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Track

B Plan

C Analyze

D Identify

Which of the following processes included in risk management decides how risk management activities for the project at hand will be performed?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Perform qualitative risk analysis

B Plan risk responses

C Plan risk management

D Identify risks

 

BUS519 Project Risk Management

Week 3 Quiz  

You, as a project manager, are in the process of gathering, creating, storing, distributing, and disposing of project communications. Which process are you working on?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Perform monitoring

B Plan communications management

C Manage communications

D Control communications

Which of the following inputs of the manage stakeholder engagement process directly addresses the risks that could affect the project?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Change log

B Communications management plan

C Organizational process assets

D Stakeholder management plan

Question 3 :Which of the following outputs of the control communications process comes about as a result of actions taken to correct issues; to modify scope, schedule, or budget; or other items?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Project management plan update

B Change request

C Work performance information

D Project documents update

Which input of the plan stakeholder management includes company culture, organizational structure, and governmental or industry standards?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Project management plan

B Organizational process asset

C Enterprise environmental factor

D Stakeholder register

Question 5 :Which of the following theories attempts to formalize the subjective views of the decision makers (or stakeholders) for risk management purposes?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Achievement theory

B Expectancy theory

C Utility theory

D Organizational theory

John is the project manager of the NHQ project for his company. His project has 75 stakeholders, some of which are external to the organization. John needs to ensure that he converses about risks in the most appropriate method for the external stakeholders. Which project management plan will be the best guide for him to connect to the external stakeholders?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Risk Response Plan

B Communications Management Plan

C Project Management Plan

D Risk Management Plan

Della works as a project manager for Tech Perfect Inc. She is studying the documentation of planning of a project. The documentation states that there are twenty-eight stakeholders with the project. What will be the number of communication channels for the project?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A 300

B 250

C 378

D 28

Which of the following are the leadership styles?

Each correct answer represents a complete solution. Choose all that apply.

This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Autocratic

B Legitimate

C Situational

D Laissez-faire

Which of the following conflict management techniques is achieved when each of the parties involved in the conflict gives up something to reach a solution?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Forcing

B Accommodation

C Avoidance

D Compromising

Which type of power is given to someone by their subordinates based on their respect and regard?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Referent power

B Legitimate power

C Reward power

D Expert power

John works as a project manager for uCertify Inc. He’s working on a project and finds that there are multiple risks that will affect several stakeholder requirements. Which of the following will he use to share all information on the project risks to stakeholders?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Risk management plan

B Stakeholder management plan

C Procurement management plan

D Communications management plan

The documentation of a project planning states that there are 25 stakeholders with the project. What will be the number of communication channels for the project?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A 50

B 25

C 600

D 300

.

 

 

BUS519 Project Risk Management

Week 4 Quiz  

Which of the following documents is most useful to communicate and solicit inputs of the project stakeholders during risk identification? This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Project charter

B Requirements management plan

C Stakeholder register

D Risk register

Question 2 :A technique that measures what an organization can and cannot do, and its potential opportunities and threats is known as which of the following?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Checklist analysis

B Root cause analysis

C SWOT analysis

D Assumptions analysis

Tom works as a project manager for BlueWell, Inc. He’s determining which risks can affect his project. Which of the following inputs of the “identify risks” process is useful in doing so and provides a quantitative assessment of likely cost to complete scheduled activities?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Cost management plan

B Risk management plan

C Activity cost estimates

D Activity duration estimates

Question 4 :You and your project team are just starting the risk identification activities for a project that is scheduled to last for 18 months. Your project team has already identified a long list of risks that need to be analyzed. How often should you and the project team do risk identification?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Several times until the project moves into execution

B At least once a month

C Identify risk is an iterative process.

D It depends on how many risks are initially identified.

 

Which of the following techniques is used to verify the fundamental basis that causes a defect, a variance, or a risk?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Risk transference

B Risk mitigation

C Risk avoidance

D Root cause analysis

Which of the following techniques depicts how the elements of a system are related to each other and shows the logical flow of a process?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Analysis diagram

B Influence diagram

C System or process flow chart diagram

D Cause-and-effect diagram

John works as a project manager for uCertify Inc. He’s working on a project and finds that the project is not running according to project plans. He needs to examine the existing project plans for determining whether they were consistent with the project requirements. Which of the following techniques will John use to accomplish the task?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Checklist analysis

B Process flow chart

C Documentation reviews

D Brainstorming

Question 8 :You are working with your project stakeholders to identify risks within JKP Project. You want to use an approach to engage stakeholders to increase the breadth of identified risks by including internally generated risks. Which identify risks approach is best suited for this goal?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A SWOT analysis

B Delphi technique

C Assumptions analysis

D Brainstorming

 

The identify risks process determines the risks that affect the project and document their characteristics. Why should the project team members be involved in the identify risks process?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A They are the individuals that will most likely cause and respond to the risk events.

B They are the individuals that will have the best responses for identified risk events within the project.

C They are the individuals that are most affected by the risk events.

D They are the individuals that will need a sense of ownership and responsibility for the risk events.

You are the project manager of the GYH project in your organization. Management has asked you to begin identifying risks and to use an information gathering technique. Which one of the following risk identification approaches is an information gathering technique?This task contains the radio buttons and checkboxes for options. The shortcut keys to perform this task are A to H and alt+1 to alt+9.

A Root cause analysis

B SWOT analysis

C Documentation reviews

D Assumptions analysis

Which of the following are objectives of risk identificatio