Strategies for Risk Management in Organizations
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Questions and Answers

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?

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

    How should requirements changes be addressed?

    <p>Derive traceability information to assess requirements change impact.</p> Signup and view all the answers

    What is the recommended strategy for addressing organizational restructuring?

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

    What should be done to address database performance issues?

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

    How should underestimated development time be addressed?

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

    What is the recommended approach for risk monitoring?

    <p>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.</p> Signup and view all the answers

    Which of the following is NOT a recommended risk management strategy mentioned in the text?

    <p>Increase project budget to account for unexpected costs.</p> Signup and view all the answers

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