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REQUIRED ACTIONS: 

Pick one question to answer from each of the three areas below. Post an original thread in this forum. Put your name in the subject line (e.g. “Bill Smith”) – 800 words or less.

Risk in the Project Environment 

• When looking at risks in the project environment, why are we concerned with the impact and probability of a potential risk event? 
• How could you sort through a long list of risks in a project so that focus is placed on the most important one(s)?
• When is the best time to assess potential risks in a project AND at what frequency?

Risk Information

• Explain what a “risk register” is, what it is used for, and what it contains (i.e. components for the risk register). Please describe each of the components.
• What are some sources of information on risks that you would list in a risk register (i.e. where would you find information on risks)?
• Explain at least two techniques for gathering risk information from various sources. Support your response with one reference in addition to those provided in your required/optional readings, learning modules, and text books.

Procurement 

• Why are contracts necessary when conducting procurements and what do they represent? Discuss the major types of procurement contracts. Is there any situation where you would not use a contract for procuring goods or services – please explain why or why not? Is a verbal agreement or a handshake considered a valid contract? Please include a minimum of one resource in addition to your required or optional reading/viewing resources.
• Describe the different types of Fixed-price contracts and why you would use one over another. Who bears the most risk in this contract type – the ‘buyer’ or the ‘seller?’ Provide an example from your experience, from your research, or create a scenario to illustrate. Please include a minimum of two resources in addition to your required or optional reading/viewing resources.
• Describe the different Cost-reimbursable contracts and why you would use one over another. Who bears the most risk in this contract type – the ‘buyer’ or the ‘seller?’ Provide an example from your experience, from your research, or create a scenario to illustrate. Please include a minimum of two resources in addition to your required or optional reading/viewing resources

use any reference as a source for your posts, you must use the APA in-text citation format to credit the author.

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