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