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The official definition of a Risk & Risk Management as per the PMBOK Guide is:

A Risk is an uncertain event or condition that if it occurs, has a positive or negative effect on a Project's Objectives.

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In a traditionally drawn decision tree a circle represents?

Short answer: a circle represents a "chance node," meaning a chance to which an Expected Monetary Value (EMV) may be assigned to calculate the most likely pay-off. Explanation: according to the PMBOK Guide, 4th Ed. (pgs. 298-299), the inputs to this node are scenario probability and the EMV (expected monetary value) assigned to that chance node, from the decision node (denoted as a square on a decision tree). A chance node leads to a "net path value," otherwise known as a computed value or solution set (represented by a triangle on a decision tree). A decision tree of this type is one of the tools used to determine quantitative risk analysis used to reach a computed optimal solution using probability distributions as a basis.


How do managers perform basic management functions such as planning which would seem to require reflection and analysis?

Good managers facilitate collaboration among team members, stakeholders, and subject matter experts in order to identify products, services and other deliverables and the tasks required to create and deliver them. Bad managers "shoot from the hip," issuing summary decisions without input, and rely on the authority inherent in their position to get alignment from their direct reports. The Project Management Body of Knowledge, 4th Ed. (usually referred to as the PMBOK) includes brief descriptions of 42 common project management processes organized into five process groups and nine knowledge areas. It's a good resource for planning techniques, for both project managers and line managers.


How old do you half to be to not half to take drivers ed to get your lisens?

Old enough to know the difference between "half" and "have" or how to spell "license." Or 25 in Texas.


What are some actions an entrenched management might take that would harm shareholders?

REFERENCE:Brigham and Ehrhardt (2009) Financial Management Theory andPractice (13th Ed) 13.4 Managerial Behavior and Shareholder Wealth, page 531 (Retrieved onJuly 23, 2011)


What does MNC stand for when talking about organizational structures?

MNC - is a firm that has operations in more than one country, international sales, and a nationality mix of managers and owners. MNC: Multi-National Company Source: Zellmer-Bruhn, Mary ed. Contemporary Management. Commissioned by the Carlson School of Management. McGraw-Hill, USA 2008.