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Project Risks

Project Risks >> Fundamentals of Project Planning and Management

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Project Risks

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On the x-axis we have the relative magnitude of the ‘impact,’ with higher numbers indicating a more severe outcome. On the y-axis we have the probability that a risk ‘may’ occur, ranging from just above 0% to just below 100%. Using Risk Score as a measure, prioritize risks A through E from MOST risky to LEAST risky.

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Consider the project detailed in the table above. Assume every task begins as soon as possible, but lasts its MINIMUM duration. What is the duration of this project as a whole?

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According to the Tornado Chart above, which task has the potential to cause the GREATEST IMPACT on the project’s OVERALL DURATION?

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7. Figure 4: Cumulative Probability Curve for the duration of Project X

According to the cumulative probability curve above, what is the probability that this project will take AT LEAST 25 weeks to complete?

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According to the cumulative probability curve above, what is the probability that this project will be completed within 55 weeks?

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