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Plan Risk Responses

Plan Risk Responses
By Simona Belindean, Northwest University

The benefit to knowing the risks that could possibly affect the outcome of the project is that in identifying risks, a great project manger will also pinpoint and pursue the best possible solutions. For example, in knowing that it will rain on the that day we will be spectators at a much anticipated outdoor soccer game, we will use that knowledge of the weather forecast and take rain coats, boots, hats, and umbrellas – to not only be prepared for the rain, but to ensure enjoyment and fulfillment at the planned outing.

  • Avoid

    By having and utilizing responses to negative risks, a project manager effectively reduces the impact of threats to the project. In knowing that a specific product will cause an increase in the overall budget of the project, the project manager (or team member) can shop around for a less expensive manufacturer, and if successful, completely avoid the threat of the higher cost product.

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Project Management – Close Procurements

Project Management – Close Procurements
By Simona Belindean, Northwest University

All things – good or bad – must come to an end. And as we now understand, even the project must come to an end, and deliver according to scope by a specific date and within an approved budget. But in the process of finalizing the project, contracts must also be completed, and as such, deliverables must be verified and accepted according to contractual stipulations. This final phase, known as “Close Procurements,” confirms for both buyer and seller that the contract was executed, and final, legal closure can take place.

In the process of closing out procurements, inputs that a project manager has for verification of completion and delivery to project scope is the project management plan, and any procurement documentation that provides a description of the work performed.

During the course of a contract, the project manager must also verify that the contracted work is being completed to agreed upon specifications. Read the Complete Article

Recommended PM App

Recommended PM App

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