PM610 Colorado Technical Project Quality and Risk Management Paper

Business Finance

Deliverable Length:

750 Words APA Format

Assignment Objectives:

Acquire PM planning tools including the WBS, Network Diagramming, Earned Value Management, personnel/team management, and risk assessment and management.


Assignment Description:

A common assumption following the completion of a project would be that the sun would rise the next day. Suppose for a moment the sun did not rise. The severity of this risk would threaten not only the completion of this project but most other projects. In other words, the risk posed by the sun not rising is extremely high; however, the likelihood of that happening is relatively small.

On the other hand, consider a different sort of risk. Consider that one of the billing system database servers has been destroyed. The likelihood of this happening is considerably higher than the likelihood of the sun not rising. Unless the database was not recently backed up, the severity of this risk is relatively low. In other words, neither of these risks rises to a level that would threaten the completion of the project.

What are the differences between qualitative and quantitative risk analysis? When is each type of analysis appropriate? What type of analysis will you use for the customer service system project?


Assignment Guidelines:

  • Address the following in 750 words:
    • What are the differences between qualitative and quantitative risk analysis? Explain.
    • When is each type of analysis appropriate? Explain.
    • What type of analysis will you use for the IRTC customer service system project? Why?

    Part 2:

Review and reflect on the knowledge you have gained from this course. Based on your review and reflection, write at least 400 words on the following:

  • What were the most compelling topics learned in this course?
  • How did participating in discussions help your understanding of the subject matter? Is anything still unclear that could be clarified?
  • What approaches could have yielded additional valuable information?

Scenario will be Attached

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