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APA
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Literature & Language
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English (U.S.)
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Topic:
"Valuing Risk Management" (Essay Sample)
Instructions:
"Valuing Risk Management" Please respond to the following:
-Rank risk management in importance among the previous planning elements of budgeting, resourcing, scheduling, WBS and scope planning. Justify the ranking.
-Create a scenario where the value of risk management would be minimal. Explain why.
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Valuing Risk Management
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Valuing Risk Management
Risk management is very essential since it is forward looking and it bases its predictions on the potential risks and the anticipated mitigation actions. It involves managing in order to achieve a suitable balance between realizing potential opportunities whilst minimizing adverse effects (Conrow, 2003). It would rank low among the planning elements of budgeting, resourcing, scheduling, work breakdown structure (WBS) and scope planning. According to Khatta (2008) the ranking would be : 1. Project scope, where the project documentation is reviewed wit...
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