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Avoiding Vs Mitigating Risk

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sdutt
Posts: 14
Joined: Sun Mar 26, 2017 11:27 am

Avoiding Vs Mitigating Risk

Postby sdutt Tue Apr 25, 2017 10:47 am

You are adding 2 resources to your project so that you can complete project on schedule. This is called

1.Resource Leveling
2. Avoiding Risk
3.Mitigating Risk
4.Critical Chain Method.

Can some one pls help pick the correct answer with explanation? Thanks.
VCAB
Beginner
Beginner
Posts: 45
Joined: Wed Dec 21, 2016 4:26 pm

Re: Avoiding Vs Mitigating Risk

Postby VCAB Tue Apr 25, 2017 2:43 pm

Let me attempt and hope it helps

You are adding 2 resources to your project so that you can complete project on schedule. This is called
1.Resource Leveling
2. Avoiding Risk
3.Mitigating Risk
4.Critical Chain Method.

Can some one pls help pick the correct answer with explanation? Thanks.

I think we need to first eliminate the wrong answers and keep only the correct and most likely one....
1 and 4 will be eliminated. Resource Leveling is used when there are resource constraint, it extends completion date, in other words the project will have a new closing date---the question says, suggested completing on schedule---if fast tracking or crashing was an option, then it would be one of them depending on the question

4 is also eliminated because provides buffers to protect the project due date it is assume that there is resource restriction and high risk

[b]You are adding 2 resources to your project so that you can complete project on schedule
I would then eliminate 3, mitigation which is changing plans to ensure that the impact and/or probability is reduced

I think A, which suggests changing plan to eliminate a risk...the risk here is not finishing on time, so to avoid delays, the project is adding two resources

One of the host, Sakat or others might confirm or correct me, which I gladly appreciate
sdutt
Posts: 14
Joined: Sun Mar 26, 2017 11:27 am

Re: Avoiding Vs Mitigating Risk

Postby sdutt Tue Apr 25, 2017 3:55 pm

Hey ..thanks so much ....kind of makes sense. ....I got confused cause mitigation also means doing some action to help reduce some risk ...in this case the schedule risk.

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