This unit examines the project execution process with an emphasis on managing risk. The chances of risk events occurring (and their respective impact on costs) can change over the project life cycle. Consider how significant this change could be to the Project Manager. Consider the following project that has inherent high-risk factors: The installation of a wind turbine for energy generation.
Respond to the following:
A. Draw from the readings this week and identify potential risk events for the project you selected.
B. Discuss the tools and techniques that the Project Manager should use to analyze the risk events you identified.
C. From the list of risk events that you identified above, identify which of these risk events the Project Manager might seek to avoid, mitigate, transfer, or absorb. In your answer state WHY he/she would choose the risk management strategy you suggested.
