Purchase Solution

Tools for project risk management

Not what you're looking for?

Ask Custom Question

How can Microsoft Project, Open Workbench and/or Excel be used in project risk management?

(Provide references to the work and add a personal conclusion, length minimum 500 words. References do not count to the wording total).

Purchase this Solution

Solution Summary

The tools for project risk management are provided for Microsoft Project.

Solution Preview

Project Risk Management
Risk is an event that causes deviation from expected results. Risk management is the process of identifying, mitigating, and controlling known risks so that probability of project getting completed on time is increased. All projects have risks but it is not possible to avoid all risks. Project management is keeping track of deadlines, status, risks, issues, etc. Hence organizations have to understand risks and minimize them. Quantitative risk analysis is an important part of project management and tools like Microsoft Project, Open Workbench and Excel help in performing quantitative analysis. Quantitative risk analysis is the process of analyzing risk events and assigning numerical rating to those risks. It allows project managers to see the effect of risks on project schedules. As a result project managers are able to mitigate risk factors and manage their projects better ...

Purchase this Solution


Free BrainMass Quizzes
Business Processes

This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.

Managing the Older Worker

This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce

Paradigms and Frameworks of Management Research

This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.

Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.

Learning Lean

This quiz will help you understand the basic concepts of Lean.