Share
Explore BrainMass

Project Procurement and Risk Management

Mr. TorTe, Could You Please offer me any Guidance for this assignment it is a huge part of my grade.
This is my assignment. It is due today and I am struggling with most of this. Any help that will enable me to write at least enough to pass would be great.
Please answer three questions out of the following four. Each question will be graded out of 5 points. All questions should be answered in one word document.. Good luck.

Question 1:
From you reading, would you prefer using qualitative risk assessment or semi-quantitative risk assessment, and why? Give examples for a low, medium and high risks.

Question 2:
Make vs. Buy is always an important decision to make. From your readings, what are the factors that affect making this decision?

Question 3:
Read case study 20-2 - Montgomery Furniture Company page 376 - (ATTACHED)
Management of Project Procurement.
How would an RFP that defined the consulting work and the management requirements for the work have improved the current situation for this contract? What would you include the RFP??

Question 4:
Read Asia Power Authority Case study page 517 - (ATTACHED)
Management of Project Procurement.
What alternatives are there to proceeding to arbitration with Eastman? What course of action will you take? Why??

Attachments

Solution Preview

Thanks for Posting today.

Question 1:
From you reading, would you prefer using qualitative risk assessment or semi-quantitative risk assessment, and why? Give examples for a low, medium and high risks.

Consider:

Qualitative: "Definition
Relative measure of risk or asset value based on ranking or separation into descriptive categories such as low, medium, high; not important, important, very important; or on a scale from 1 to 10."
(http://www.businessdictionary.com/definition/qualitative-risk-analysis.html)

Also:

"Risk assessments may be qualitative, semi-quantitative, or quantitative. Qualitative assessments usually identify a high, medium, or low level of risk. Semi-quantitative assessments may be used to prioritize risks in relation to one another. Quantitative assessments are often used to identify and evaluate food safety control points or estimate the benefits of various intervention strategies.

Each risk assessment has four parts, as widely recognized in the international scientific and regulatory risk assessment communities and by such ...

Solution Summary

The solution contains in-depth answers to the questions posed by the student.

$2.19