Strategies for Risk Management in Organizations

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Which of the following strategies is recommended to address organizational financial problems?

Replace potentially defective components with bought-in components of known reliability.

Alert customer to potential difficulties and the possibility of delays; investigate buying-in components.

Reorganize team so that there is more overlap of work and people therefore understand each other's jobs.

Prepare a briefing document for senior management showing how the project is making a very important contribution to the goals of the business and presenting reasons why cuts to the project budget would not be cost-effective. (correct)

What is the recommended strategy for addressing recruitment problems?

Alert customer to potential difficulties and the possibility of delays; investigate buying-in components. (correct)

Reorganize team so that there is more overlap of work and people therefore understand each other's jobs.

Replace potentially defective components with bought-in components of known reliability.

Prepare a briefing document for senior management showing how the project is making a very important contribution to the goals of the business.

How should a team be reorganized to address staff illness?

Replace potentially defective components with bought-in components of known reliability.

Reorganize team so that there is more overlap of work and people therefore understand each other's jobs. (correct)

Prepare a briefing document for senior management showing how the project is making a very important contribution to the goals of the business.

Alert customer to potential difficulties and the possibility of delays; investigate buying-in components.

What is the recommended strategy for addressing defective components?

Replace potentially defective components with bought-in components of known reliability. Signup and view all the answers

How should requirements changes be addressed?

Derive traceability information to assess requirements change impact. Signup and view all the answers

What is the recommended strategy for addressing organizational restructuring?

Prepare a briefing document for senior management showing how the project is making a very important contribution to the goals of the business. Signup and view all the answers

What should be done to address database performance issues?

Investigate the possibility of buying a higher-performance database. Signup and view all the answers

How should underestimated development time be addressed?

Investigate buying-in components; investigate use of a program generator. Signup and view all the answers

What is the recommended approach for risk monitoring?

Assess each identified risks regularly to decide whether it is becoming less or more probable, and also assess whether the effects of the risk have changed. Signup and view all the answers