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Macro and Micro project risk management

Explain the difference between Macro and Micro risk management. Think of a project you have worked on in the past couple of years and justify whether it should have been classified as a Macro or Micro risk management project.

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Explain the difference between Macro and Micro risk management. Think of a project you have worked on in the past couple of years and justify whether it should have been classified as a Macro or Micro risk management project.

The difference between Macro and Micro risk management is that in case of Macro risk management firms, companies, and project managers develop methods to stay alert to the "endogenous" component of risk that emerges from collective actions that impact the underlying drivers of risk. Examples of such macro risks are that a large number of firms undertake construction of housing apartments because they assume that the high demand in the market will enable them to realize a good value for their housing apartments. However, the market prices are driven down by the collective action of the large number of builders. The builders suffer a loss because they generated the very pressures that led to fall in prices and consequent losses. Let us take another example, during business ...

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