Week 5 Risk

Seminar exercises questions from past examination papers Question 1. (January 2002: Risk)
(a) How can risk be managed within a project? Use a diagram to illustrate your answer. (15 Marks)

Question 2. (May 2002: Risk)

(a) Explain with the aid of a diagram one possible way of managing risks within a project. (15 Marks)

Question 2. (May 2003: Risk)

(a) Describe the four stages of the risk management process. (15 Marks)

Question 1. (January 2004: Risk)

(a) Describe two different models of risk management. You should illustrate your answer with diagrams. (Diagrams alone are not sufficient). What are the key features common to both the models you have chosen? (15 Marks)

Question 1. (May 2004: Risk)

(a) In the context of risk analysis and management, what is meant by each of the following the terms? i. risk (6 marks) ii. contingency plan (3 marks) iii. containment action (3 marks) iv. tracker (3 marks)

Question 2. (January 2003: Risk)

This question refers to figure 1 and figure 2, shown below. (i) (ii) (iii) Compare and contrast figure 1 and figure 2. (5 Marks) Briefly explain the difference between containment and contingency as depicted in figure 1 (3 Marks) Briefly explain what is meant by the terms risk assessment and risk monitoring in figure 2 (4 Marks) Figure 2
Identify N Significant ot

Figure 1

A ssess U ards pw A llocate

Start
P roject M ber em

R assessm isk ent R prioritisation isk

C ontainm ent

R reduction isk
C ontrol

R m isk anagem planning ent

P roject P lan

R resolution isk
T rigger

R m isk onitoring
C ontingency

E nd