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COMPREHENSIVE EXAMINATION

AUGUST 8-9, 2020

NAME: DEGREE:
CHUA, LEA THERESE LUCRECIA C. DBA
SUBJECT: TIME:
Cluster 3 CONFLICT AND RISK MANAGEMENT 1:00PM

Cluster 3 CONFLICT AND RISK MANAGEMENT

QUESTIONS ANSWERS POINTS

1. Discuss briefly the Project risk is when risk occur in an uncertain event and have an effect on the project outcome which
methods used to identify can be either positive or negative in results. Different methods can be used to identify project risk:
a. Documentation reviews -is a method used to analyze initial risks in a project. Documentary
project risk files on historical project reports such as but not limited to project plans, financial reports,
a. Documentation agreements, contracts, assumptions and projection reports, evaluations as well as other
reviews types of documentary information on the project are gathered. These documents are
b. Information reviewed of its quality and consistencies to determine possible risks that may happen with the
Gathering project. Probabilities can be traced thru these documentaries.
b. Information Gathering is a process where methods such as brainstorming, surveys,
c. Checklist analysis interviews and root cause analysis is done. Normally, soliciting ideas from expert consultants
d. Assumptions are also made as part of the routine. These items become part of the evaluation of risk
analysis analysis.
e. Diagramming c. Checklist analysis – Is a systematic technique to review documentations by creating key
f. SWOT analysis notes via checklist to determine initial strong and weak points of a project.
d. Assumptions analysis is a process in identifying risk using a vertical method by

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being done during the project planning process.

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The assumption analysis is frequently done to
Expert judgment rule out risks from the assumptions of the project.
e. Diagramming is a technique used via flowcharts or diagrams to assess risk in a certain
. project. It helps determine both potential and actual risk. An example of a diagramming
technique is the fishbone diagram to determine the cause and effect; flow charts to determine
systems and processes as well as the influence diagram that connotes decision making.
f. SWOT Analysis – is to determine a projects strength, weakness, opportunities and threats.It
is the commonly used technique in project management because it evaluates both internal
and external risks. Strength and weakness identify internal risks while opportunities and
threat look into external risks. SWOT analysis not only identifies risk but also sees timelines
and budgetary feasibility of a project.
g. Expert judgement is used in evaluating proposals to minimize risks. Experts opinion is
solicited and used to assess projects as well as the inputs and outputs become a basis in
decision making.
(40 pts Obligatory a. Production risk is undertaken with a business undergoing any production related activity. The
question for number 2) underlying risk in production. Example to this are manufacturing companies who are now at a
current risk of being unable to do their productions at the current pandemic state. Risks on
2. Explain and give lack of manpower, supply and demand of these products could hamper production.
examples on the b. Marketing risk – is the potential failure to marketing which can result to losses. Marketing risk
following risk: entails product development, lack of demand, pricing and brand image. An example is the
a. Production risk risk of UPH in marketing to acquire enrollees. The risk of low enrollees is high due to the lack
b. Marketing risk of demand of education amidst the pandemic having health safety as a priority not to mention
the financial status of our economy,
c. Financial risk c. Financial risk - is the possibility of gaining losses in. a business investment. This risk include
d. Legal risk credit risk, business liquidity risk and risk in operations. This again is currently encountered
e. Human risk by most business amidst the covid-19 pandemic. Numerous businesses are currently in risk
and are threatened to close due to the economic crisis. Some shops are currently operating
on a 50/50 ratio capacity which contributes to possible losses.
d. Legal risk - is the risk involved when a business is not aware of the legal entities of law and
regulations to operate a business or undergo any project for that matter. This can result to
financial and reputational loss deterrent to the brand image. As an example, a business may
lose its authority to operate if it does not abide by the law and regulations of acquiring a
business permit. On a personal manner, driving without a license may revoke person’s right
to have one.
e. Human Risk – is referred to the risk involve which can threaten a life. Human risk is usually
derived from 4 d’s – death, disability, disagreement and depression.A personal risk
assessment must always be done to assess the vulnerability as a human and avoid the
deterrent risk. Just like during this pandemic, we have to assess if the risk of contracting the

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decide if it is worth risking. Same principle is

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applied for employers who run a business. A
risk assessment must be done and find solutions to minimize the risk of operations paralysis.
3. Discuss the possible
risk of the following
situations:
a. Shortage of skilled
personnel due to
demand by other
building projects.
b. The unexpected
cost of inspection &
license.
c. Unexpected cost in
raw materials.

4. Why the project
manager needs to know
the likelihood that a risk
will occur and its potential
impact on the project if it
does.
At this moment I came to understand that the world evolves around risks. No matter how we comeout
with a well thought and studied plans, risks are always at hand. That is where a project manager
comes in. In order to prevent the risk from happening, a project manager must be able to foresee it
and plan ahead how address it when it happens, if not prevent it. The project manager shall
determine how to avoid, mitigate or transfer, look for options or recommend acceptance. With a
project manager in hand, the impact of the risk is most likely to lessen since the business is prepared
or there will be no impact at all. The project manager would be able to foresee and manage the risk.

5.Attitudes to risk are

driven by perception,
tolerances, and other
biases, which should be
made explicit wherever
possible. Discuss
TOTAL POINTS

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