THE KNOWLEDGE PARTNERSHIP (12/14)

Question set up (a)

1. Marks allocation (15m) x 1.8

Definition TARA- 2m
Transference- 3m
Avoidance-3 m
Reduction-3m
Acceptance-3m

2. Identify the verb

Analyse-give reasons for the current situation or what has happen.

3. Separate the paragraph into small passage

4. Walk into industry

Consultancy industry
Eg: IBM

5. Identify which chapter

TARA and Project Management - study text ch13

6. Planning

Definition
a) Transference
The risk is transferred to another party.
 TKP has $10 million of consultant’s liability insurance undertaken by
Zeeland Insurance Group (ZIG)

 In Project 2, client has seeks TKP consultancy on iProjector patent.

TKP has referred his client to other consultancy company.
- TKP does not have expertise on patent.

b) Avoidance
Activities that carry risk are avoided.
 TKP does not undertake project outside Zeeland.

-It is because to avoid difference culture and government policy in

other country that might exist.
  There is high business failure rate for software package supplier with
annual revenue of below $10millin which is 10% as compared to 1%
for larger firm with annual revenue of more than $10million.
-TKP has advice its client to buy software package from larger supplier
to avoid the risk of business failure.

c) Reduction
The potential of the risk cannot be removed but mitigation can reduce the
severity of any loss or likelihood of the loss occurring.

 There is some current data that has poor quality.

-This poor quality could create future problem to TKP. Thus, TKP has
established strategy for data cleansing to help them to eliminate poor
quality data from being migrated from legacy system to new system.

Question set up (b)

7. Marks allocation (10m) x 1.8

Definition- 3m
Project 1- 3m
Project 2- 3m

8. Identify the verb

Describe – give the key features
Discuss- argument for and against

9. Separate the paragraph into small passage

10. Walk into industry

Consultancy industry
Eg: IBM

11. Identify which chapter

TARA and Project Management - study text ch13

12. Planning

Definition
d) Scope
Project scope varies according to either quantity or quality
 How many task to be included
 What level the quality needed
 e) Time
It is likely to be an overall deadline for when the project has to be completed
 Have operational time budget that include number of staff hours

f) Cost
A project should have a cost budget and the project manager should aim to
ensure cost remain within the budget.
 Has limited resources.

Project 1
a) Scope
 Company supplying the software package
 Improve legacy system

b) Time
 No exact deadline, only estimated time ( May 20X5)

c) Cost
 Policy not to re-visit

Project 2
a) Scope
 Quality of the specialist image
 Short time will lead to quality issue

b) Time
 The deadline is fixed ( 1 May 20X5)
 Project delayed – June 20X5

c) Cost
 Incur additional cost to recover project delayed
 More fund is needed