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Answer the following question;
Q1. Mention the steps followed in the risk identification process.
Q2. What are the strategies used in risk response planning process.
Q3. What are the steps to balance short term and long term plans? What are the risk impacts? Give examples.
Q4. Explain contract management? List the differences between a program and a project in business.
Q5. Pavan Misra is a project manager in Latitude Software Pvt Ltd Company. Pavan attended the seminar conducted annually in HCF convention centre, Lucknow. One of the managers portrayed the following situation at a company at which he had worked:
Q6. Explain the need for documentation?
Verified Expert
Risk identification is a process which determines the types of risks that have potential impact on a project. The risk identification is an ongoing process and must be carried out throughout the project. Risk identification involves discovering the risk, documenting and communicating the hazard before it manifests as a problem in the system. Project undertaken may involve both internal and external risks. Internal risks, such as staff assignments and cost estimates are usually controlled by the project team. External risks, such as market shifts and government actions are beyond the control of project team. The risk identification process must address both internal and external risks. The element of suffering from a harm or loss is always a point of consideration while evaluating the risk. In the perspective of the project, risk identification is crucial
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