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.B.
As a project manager, Amy needs to assess risks associated with the project and develop a strategy to manage them. In this case, the organization has a low tolerance for risks that may impact the project schedule. To create a bias against risks that may affect the project schedule, Amy can consider the following approach:
Option A: She can have the project team pad their time estimates to alleviate delays in the project schedule.
While padding estimates may create a buffer against delays, it can also lead to overestimation of the project schedule, which may not be acceptable to stakeholders. Moreover, it does not address the underlying risk that may cause schedule delays.
Option B: She can create an overall project rating scheme to reflect the bias towards risks that affect the project schedule.
Creating a project rating scheme based on the severity of risk events affecting the project schedule can help Amy and stakeholders understand the potential impact of risks on project schedule. This scheme can provide a basis for making informed decisions to mitigate the risks that may cause schedule delays. However, it does not address how the risks can be managed or prevented.
Option C: She can filter all risks based on their impact on schedule versus other project objectives.
By filtering risks based on their impact on the project schedule, Amy can prioritize the risks that can potentially cause schedule delays. This approach helps Amy and stakeholders to focus on mitigating the most critical risks first, thereby reducing the overall risk to the project schedule.
Option D: She can shift risk-laden activities that affect the project schedule from the critical path as much as possible.
Shifting risk-laden activities from the critical path can help reduce the impact of risks on the project schedule. This approach involves identifying activities that are not critical to the project schedule and shifting them away from the critical path. However, it may not always be possible to shift all activities away from the critical path, and some risks may still impact the project schedule.
In conclusion, the best approach for Amy to create a bias against risks that may affect the project schedule is to filter all risks based on their impact on the schedule versus other project objectives. This approach will allow Amy and stakeholders to prioritize risks based on their potential impact on the project schedule and take appropriate actions to mitigate or prevent them.