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Tutorial 2

The document outlines a tutorial on Project Risk Management for the University of Vavuniya's ICT Department. It covers key concepts such as project risk definition, risk management processes, qualitative vs quantitative analysis, risk identification techniques, and tools like the probability-impact matrix. Additionally, it discusses the importance of risk monitoring and control, as well as techniques like Expected Monetary Value and Monte Carlo analysis in decision-making.

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deshani bandara
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1 views1 page

Tutorial 2

The document outlines a tutorial on Project Risk Management for the University of Vavuniya's ICT Department. It covers key concepts such as project risk definition, risk management processes, qualitative vs quantitative analysis, risk identification techniques, and tools like the probability-impact matrix. Additionally, it discusses the importance of risk monitoring and control, as well as techniques like Expected Monetary Value and Monte Carlo analysis in decision-making.

Uploaded by

deshani bandara
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

University of Vavuniya

Faculty of Technological Studies


Department of ICT
Tutorial 2 – Project Risk Management
TICT3222

1. Define project risk and explain why risk management is considered an investment in IT
projects.

2. List and briefly explain the main processes of project risk management.

3. Explain the difference between qualitative risk analysis and quantitative risk analysis.

4. Describe any two risk identification techniques and explain how they help in identifying
project risks.

5. What is a probability–impact matrix? Explain how it is used to prioritize project risks.

6. Explain the Top Ten Risk Item Tracking technique and its importance during the project
life cycle.

7. Describe the concept of Expected Monetary Value (EMV) and explain how it supports
project decision making.

8. Explain the role of simulation (Monte Carlo analysis) in quantitative risk analysis.

9. Compare risk avoidance and risk mitigation with suitable examples.

10. Why is risk monitoring and control essential after risk response planning? Mention two
main outputs of this process.

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