solve the qustions Act of God 3List the major Risk Manageme

solve the qustions

Act of God . 3List the major Risk Management aspects 4. What is the main difference between UniFormat and MasterFormat 5. If you would like to adapt a Work Breakdown Structure (WBS) for a small size/low cost project, would you use the UniFormat or MasterFormat. Explain your answer in detail. 6. The summary of a Progress Report is shown below, Comment on the cost and schedule performance of such a project using the Earned Value Technique. What could have attributed to such performance? Reporting date Time (Date)

Solution

Solution:

3. The major aspects of risk management are: identify, analyse, prioritise, ownership, respond and monitor.

4. MasterFormat was basically designed in such a way to capture all the details in a more precise data like plans and specifications of a particular project, whereas UniFormat was to capture a more detailed version of related data.

MasterFormat offers more of job results & UniFormat offers the functional data.

5. I would go for a MasterFormat for a small project as the overview would be more than enough in order to design the project. A details view would be time consuming and it is not mandatorily required for smaller projects. Having the MasterFormat of the proposal it is easier to setup the project design.

6. The earned time spent on the UniFormat actually took a longer time for the analysis. This is the major attribute towards the earned value.