Project risk management is a method of finding risks, classifying risks and mitigating risks. It involves both quantitative and qualitative methods of ranking risks according to their potential to create problems. Large organizations such as government agencies and corporations establish project risk management guidelines so they have a standard process ready for use on any new proposal. Explain the following terminology and give an example each.

i.       Qualitative Risk Analysis (10 marks)

ii.       Quantitative Risk Analysis (10 marks)

Project Human Resource Management (PHRM) involves organizing and managing a project team. The team is usually made up of people with specific skills and responsibilities. The project team, also known as project staff, should be involved in plans and decision making from the beginning of the project.

i.            Explain briefly 5 types of power according to French & Raven Typology. (10 marks)

ii.          Based on your answer above, which types of power do you consider the most important of all in an organization? Explain the rationale of your answer. (10 marks)

 

Answer 1 

Qualitative Risk Analysis 

The subjective Risk Analysis Process is a cycle which doesn't dissect the dangers numerically. It is additionally not ready to recognize the likelihood and appropriation rather partners inputs which are finished by the quantitative investigation. Models 

1.To understand what danger is ruining the accomplishment of the organization 

2.The danger can be worker issues and equipment issues of the organization 

Quantitative Risk Analysis 

Then again, Quantitative danger investigation .utilizes likelihood disseminations. This is fundamentally done to portray the danger's likelihood alongside its effect. It makes the client of recreation instruments to figure the likelihood and effect. Models: 

1.To ability numerous workers are influenced and how. 

2.To ability much is the effect of the catastrophe. 

Answer 2

i

5 types power

COERCIVE POWER - It is the primary kind of intensity that has dependent on the possibility of compulsion. The importance of compulsion implies that somebody has been constraining to accomplish something without wanting to. This sort of intensity has been utilizing to set exclusive standards for representative execution. Pioneers who utilize this style of intensity is depending on dangers in their administration style. This style of intensity passing on the dread of losing an employment, being downgraded, accepting terrible showing. Yet, much of the time, this type of intensity is harsh. What's more, it prompts unfortunate conduct and disappointment at work by the representatives. 

Prize POWER - The prize force is passing on through remunerating singular representatives for consistence with one's desires. This sort of intensity includes the capacity of workers to appoint matters to give the award to representatives. For the directors, it is a likelihood to esteem/reward their subordinates in a positive way. The energy drawn from the prize will empower social change that sticks even afterward. 

Genuine POWER - Rewarding and rebuffing workers has been seeing a real piece of the formal/selected position of authority. It comes from having a place of intensity in the association, for example, a chief or an administrator or a group chief. Likewise, driving the social change with genuine force implies driving the subordinates with models. This type of intensity has effectively defeated when somebody loses their position or title. 

REFERENT POWER - Referent force comes from being regarded and trusted. At the point when the youngsters trust what the chief does and regard their capacity to deal with the circumstances, the administrator/pioneer procures referent force. In this force, the obligation level is high. In this force, the pioneer turned into the good example. Furthermore, the force is treating with deference/engage. 

Master POWER - Expert force comes from information, abilities, and experience. The pioneer has high knowledge, and the representatives realize that they can satisfy the authoritative jobs and obligations. The pioneers who model master force can drive association wide social change by urging others to become specialists as well. They were utilizing their aptitude to give preparing to new and valuable abilities o the subordinates. 

ii

Subsequent to talking about the 5 sorts of intensity, we state that master and referent force is basic for an association's authority. Since the master powers have been making from the information and experience, and the associations need the experience to beat the troubles. These forces likewise help the representatives to confide in the pioneer and regard him. They need to follow the good example to persuade and accomplish the objective. The nature of master power is assisting with preparing different representatives when required. Master power additionally urges representatives to drive social change. 

So I imagine that two of the French and Raven Typology power is basic for the association as opposed to one force. What's more, the master force and referent force is those force.