Pm595 Wk7-Compare and Contrast of Risk Hydroelectric Development Verses an Irrigation Scheme

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Compare and Contrast of Risk Hydroelectric Development verses an Irrigation Scheme Keller Graduate School of Management PM595 Project Risk Management Professor Rich Hiles PM595 - Project Risk Management SEP11 Sec A 2011 Contents Identifying Risk ............................................................................................................................................................. 3 Quantifying Risk ........................................................................................................................................................... 4 Risk Assessment ............................................................................................................................................................ 4 Differences and Similarities .......................................................................................................................................... 5 References ..................................................................................................................................................................... 6 2|Page Identifying Risk Quantitative risk analysis defined by the PMBOK as “the process of numerically analyzing the effect of identified risks on overall project objectives” (PMBOK, 2008). The first project involves hydroelectricity, while the second project involves an Irrigation System that will be built in two separate stages. Risk is involved with every project along with a great deal of uncertainty. It is the job of the Project Manager (PM) to determine and understand the uncertainties surrounding a project and how much risk they are willing to take on with each new project as well as how the PM will analyze and mitigate certain risk factors. This paper will compare and contrast two case studies that involve a hydroelectric development project and an
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