Project Quality and Risk Management Tools Application

November 10, 2023

The objective of this project quality and risk management tools application paper is to create and apply various tools and techniques used in Project Quality and Risk Management in a hypothetical project scenario of your choice. Ensure that each tool or technique is relevant to the scenario and effectively applied.

Instructions:

Project Scenario:

Project – Constructing a college building for Alpha College.

Apply Quality Management Tools:

Plan Quality: Use Cost-Benefit Analysis
Manage Quality: Develop Checklists
Control Quality: Create Cause and Effect Diagrams, Control Charts, and Histograms.

Apply Risk Management Tools:

Plan Risk: Conduct a SWOT Analysis
Perform Qualitative Risk Analysis: Conduct Probability and Impact Matrix
Perform Quantitative Risk Analysis: Conduct Decision Tree analysis, Sensitivity analysis or Monte Carlo Simulation (Choose 1).
Implement and Monitor Risks: Variance and Trend Analysis.

Submission:

Submit a well-organized document showcasing the application of each tool and technique with relevant explanations and illustrations.

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