August 1997
PM217: PROJECT MANAGEMENT

QUESTION 3

Total Marks: 20 Marks

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SUGGESTED SOLUTIONS
for Question 3
3. (a) Name two sources of risk on a project. [2]
(b) Discuss the concept of standard deviation with relation to risk. [2]
(c) Risk response planning is one way of managing risk. Describe three further ways in which risk may be managed. [6]
(d) Describe three ways in which risk response planning helps in risk management. [6]
(e) Describe how modelling can be used to assist risk management. [4]