Assigned Readings: Chapter 11: Project Risk Knowledge Management Chapter 12:

 Assigned Readings:

Chapter 11: Project Risk Knowledge Management

Chapter 12: Cultural Shaping of Risk

Initial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.

Also, provide a graduate-level response to each of the following questions:

Risk concerns both positive and negative aspects of a possible event. For example, when the covid 19 crisis took place this offered an unexpected business advantages or new product for certain organizations – a positive risk came to volition for that organization.  For example, when the covid 19 crisis took place this offered an unexpected negative risk, no one would come to your movie theatre, to come to volition for some organizations.  

  1. How should an organization prepare for either type of event?
  2. How should a business avoid negative events occuring and enahnce opportunity for positive events?
  3. Explain the concept of a Pereto Chart – provide an example – explain how the concept of the Pereto Chart might be used in making decisioins about handling negative risks which could impact a project or organization.