Amy is the project manager for her company.
In her current project the organization has a very low tolerance for risk events that will affect the project schedule.
Management has asked Amy to consider the affect of all the risks on the project schedule.
What approach can Amy take to create a bias against risks that will affect the schedule of the project?
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A. B. C. D.C.
Amy, as the project manager, has been tasked with considering the impact of all risks on the project schedule due to the organization's low tolerance for such risks. To create a bias against risks that may affect the project schedule, Amy can take several approaches.
A. One approach could be to have the project team pad their time estimates to alleviate delays in the project schedule. This approach involves adding additional time to the project schedule to account for potential delays caused by risk events. This technique is known as contingency planning or schedule contingency. This approach can be effective in mitigating the impact of risks on the project schedule; however, it can also lead to overestimation of time and budget requirements, which can negatively impact the project.
B. Another approach is to shift risk-laden activities that affect the project schedule from the critical path as much as possible. The critical path is the sequence of activities that must be completed on time for the project to be completed on schedule. By shifting risk-laden activities from the critical path, Amy can reduce the likelihood of risks affecting the project schedule. However, this approach requires careful planning and coordination to ensure that the project's critical path is not impacted negatively by these changes.
C. A third approach is to create an overall project rating scheme to reflect the bias towards risks that affect the project schedule. This approach involves developing a rating system that assigns a higher risk score to risks that have a significant impact on the project schedule. This rating system can be used to prioritize risk responses and to inform decision-making about the project's schedule. This approach can be effective in communicating the importance of the project schedule to stakeholders; however, it can be challenging to develop a rating system that accurately reflects the impact of risks on the project schedule.
D. A fourth approach is to filter all risks based on their impact on schedule versus other project objectives. This approach involves prioritizing risks based on their impact on the project schedule and mitigating these risks first. This approach can be effective in ensuring that risks that may impact the project schedule are addressed first. However, it can also lead to neglecting other project objectives that are equally important.
In summary, Amy can create a bias against risks that will affect the project schedule by using various approaches, including schedule contingency planning, shifting risk-laden activities from the critical path, developing a project rating scheme that prioritizes schedule risks, or filtering risks based on their impact on the project schedule versus other project objectives. Each approach has its advantages and disadvantages, and the appropriate approach will depend on the specific project's context and the organization's risk tolerance.