Diploma of Project Management - Question and Answer

Running head: DIPLOMA OF PROJECT MANAGEMENT
Diploma of Project Management
Name of the Student
Name of the University
Author Note

DIPLOMA OF PROJECT MANAGEMENT
1
Question 1
With the help of the risk management plan several benefits will be received. The main benefits
that will be received are as follows: -
 Spotting the project that will be in trouble: With the help of the risk management
process, the main benefit that will be received is that the issues that might be affecting
the project in a negative manner will be understood. With the help of the risk
management proper audits can be made. This will be improving the performance of the
project.
 All the events that will be performed in the process will be well known and hence wise
this will benefit the estimation process. Early awareness helps in increasing awareness
in the task completion process.
 Decision making process will also be getting better. It can be stated that the data that are
generated during the risk management process will help in performing better analysis of
the project. With better decision making issues that might arise in the process might get
eliminated.
 Expected success can be estimated. It can be stated that success of the project is
completely dependent on the decision making process. Hence with proper risks
assessment the issues that might arise will get eliminated and hence success of the
project will be higher.
These are the ways that will be changing the endemic culture in both the business and the project
aspect.

DIPLOMA OF PROJECT MANAGEMENT
2
Question 2
The positive risks are beneficial in the processing of the projects. The major positive risk
that is considered in the process is that the budget of the project have been decided in the initial
section. However in case the project gets completed within the stated budget, it acts as a positive
risk.
The negative risks that are present in the project is that three might be presence of
political sensitivities in the process along with the obsolete XP platforms. Improper planning also
might acts as a major negative risk that might occur in the process.
Question 3
Scale of the risks
The risks that are to be considered in the process are as follows: -
 Failure in redesigning the business as per the new software: The scale of the risk is very
high. This section ensures that due to the implementation of the new software, the main
issue that is to be considered is that the new software might not fit well with the
operational process of the organization.
 Improper senior management support and improper working environment is another issue
that might be faced in the operational process. It have been seen that the working
environment of the entire work place have not been very positive as the project team is
not ready to take any kind of risks.
 Another risk that can be considered is that the employees of the organization might not be
having enough expertise to use the newly implemented software. This will be again
reducing the efficiency of the working process of the software that is being implemented.