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Assigned Readings:Chapter 11: Project Risk Knowledge ManagementChapter 12: Cultural Shaping of RiskInitial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.Also, provide a graduate-level response to each of the following questions:Risk concerns both positive and negative aspects of a possible event. For example, when the covid 19 crisis took place this offered an unexpected business advantages or new product for certain organizations – a positive risk came to volition for that organization.  For example, when the covid 19 crisis took place this offered an unexpected negative risk, no one would come to your movie theatre, to come to volition for some organizations.  

  1. How should an organization prepare for either type of event?
  2. How should a business avoid negative events occuring and enahnce opportunity for positive events?
  3. Explain the concept of a Pareto Chart – provide an example – explain how the concept of the Pareto Chart might be used in making decisioins about handling negative risks which could impact a project or organization.

[Your post must be substantive and demonstrate insight gained from the course material. Postings must be in the student’s own words – do not provide quotes!]  [Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]

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Title: Managing Project Risks; 464 Pages ISBN: 978-1-119-48975-7 Authors: Peter J. Edwards, Paulo Vaz Serra, Michael Edwards Publisher: Wiley-Blackwell Publication Date: 2019