Can you please give me a comment for those answer. Please give me in positive way like I do agree.....
1.The methods that I would likely use to perform qualitative risk analysis are:
• Risk categorization - in order to determine the areas of the project most exposed to the effects of uncertainty. Grouping risks by common root causes can help us to develop effective risk responses.
• Expert judgment - individuals who have experience with similar project in the not too distant past may use their judgment through interviews or risk facilitation workshops.
2.One positive risk response which managers offer miss is sharing. This allows the project team to partner or team with another entity to realize an opportunity that they may not have been able to realize on their own. Sharing examples are teaming agreements, joint ventures, partnerships, and special-purpose companies.
3.When it comes to large construction projects, the weather can produce several negative risks on a project:
- Bad weather can make travel hazardous and cause a delay in the shipment of needed supplies
- Excessive rain or snow can slow the progress and ultimately delay construction of structures
To avoid these negative risks, many project managers suggest avoiding construction projects during the winter months.
4.In a Project Management course that I took last semester, the instructor stressed the importance of assigning a team member to "own" each risk and to be responsible for monitoring and responding to each area of risk identified. In order for this to be successful, it is imperative that the project team members are empowered to develop action plans on how to respond to risks - the expert team members are assigned to different areas in which they are most knowledgeable and trusted as "owners" to develop a timeline, objective(s) and deliverable(s).
I have learned from experience that it is extremely important for project managers to trust their team members and to give them the power to be responsible for their risk -- do not micro-manage them. Yet, you need to hold them accountable by monitoring their risk response actions to ensure that they are following their action response plan on a timely and effective (ensuring high quality) basis.