Journal of Seismology for Project Management - myassignmenthelp

Question: Discuss about theJournal of Seismology for Project Management Journal. Answer: This paper explores the approaches of identifying the components of a project. The product-based planning is a significant part of the PRINCE2 method which is used in recognizing the deliverables of a project (Bentley, 2010). On the other hand, the work or activity-based approach involves designing the office in a way that the work and the activities are supported instead of creating boundaries around the users (Engestrm, 2014). The two approaches compares since they are concerned on the project deliverables. However, I prefer the work or activity-based approach since it is designed for the office and every individual engages in the activities. Key reasons why the project estimates go wrong are the false analogies, the case where the project was estimated by decree, the false precision, subjectivity, the too coarse grained and the neglecting coordination (Flyvbjerg, 2014). Various methods of project estimation are the expert judgment method, the analogous or comparative method, the top-down, the bottom-up, and the parametric method of estimation. I think the expert judgment is better for project estimation since it is common. People can easily understand the needs which needs to be delivered. At the same time, experts can be found who should work on a certain project. There are various risk identification tools and techniques. They include the reviews for documentation, the Delphi method, and information searching methods, interviewing, and brainstorming (Bommer, Crowley Pinho, 2015). Risk mitigation involves employing strategies to minimize the negative impacts. The main response strategies for risk mitigation are: avoidance which involves the elimination of risky tasks examples time and resources. Acceptance involves risk planning for the project examples the costs, time, and resources. Prepare and monitor used for main risks, an example is monitoring schedule for an x personnel and it exceeds the y personnel. References Bentley, C. (2010). Prince2: a practical handbook. Routledge. Bommer, J. J., Crowley, H., Pinho, R. (2015). A risk-mitigation approach to the management of induced seismicity. Journal of Seismology, 19(2), 623-646. Engestrm, Y. (2014). Activity theory and learning at work. In Ttigkeit-Aneignung-Bildung (pp. 67-96). Springer Fachmedien Wiesbaden. Flyvbjerg, B. (2014). What you should know about megaprojects and why: An overview. Project Management Journal, 45(2), 6-19.