Posted: June 14th, 2023

Week 8 Discussion Post {$15}

Question description

Pick one question to answer from each of the three areas below. Post an original thread in this forum– 500 words or less.Risk Management:What is "risk management" and why is it important in the project environment?Does it make sense to spend time and effort to plan for events or occurrences that may never occur - why or why not?How can communication help in identifying AND managing risk?  Give an example from your personal or professional experience.Risk in the Project Environment:When looking at risks in the project environment, why are we concerned with the impact and probability of a potential risk event? How could you sort through a long list of risks in a project so that focus is placed on the most important one(s)?When is the best time to assess potential risks in a project AND at what frequency?When is risk generally highest in a project - why?Why is it important to identify and diligently watch for risk "triggers" in the project environment?  Please define a risk "trigger" first when answering this question.Risk Information:Explain what a "risk register" is, what it is used for, and what it contains (i.e. components for the risk register). Please describe each of the components.What are some sources of information on risks that you would list in a risk register (i.e. where would you find information on risks)?Explain at least two techniques for gathering risk information from various sources. Support your response with one reference in addition to those provided in your required/optional readings, learning modules, and text books.Why is it important to document risks and risk information gathered from various sources?Often you will document risk "symptoms" and risk "triggers" in a risk register.  Explain how the difference in these two concepts and how they are related.

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