MGMT 440 AIU Risk Management and Decision Making Discussion This assignment has to be at least 300 words. This assignment has to have at least 1 in text ci
MGMT 440 AIU Risk Management and Decision Making Discussion This assignment has to be at least 300 words. This assignment has to have at least 1 in text citation Assignment Details
This assignment has 3 parts:
Risk assessment refers to the overall process of risk
identification, risk analysis and risk evaluation; in the
scope of the Risk Management Planning Process. Risk
identification generates a list of the risks that may have
an impact on the project and create uncertainty about
whether or not it will achieve or exceed its objectives.
Risk analysis is the systematic use of available
information to develop an understanding of the risk.
Risk evaluation is the process of comparing the
estimated level of risk against risk criteria to determine
the significance of the risk. Applying this process helps a
project team make informed decisions about how to
take action towards controlling/managing risks.
Applying your understanding of the stages of
the Risk Assessment Process, how do you
believe you have applied these steps in order to
make informed decisions in your personal or
In your response, consider the following:
1. Is there a conscious (or subconscious) process
you explore when evaluating your options and
how they may impact your desired outcome? Ex.
You write down pro’s & con’s for a potential
2. What information do you use when ‘weighing
your options? Ex. Historical results/outcomes,
feedback from a trusted source, etc.
3. What “criteria do you use to decide what’s MOST
important to you when making your decision? Ex.
Your personal morals, company policy, the
opinion of others, etc.
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