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ACCA P3 Chapter 24 Project management
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Hello!
Are the 4T’s you mentioned in risk assessment like TARA framework?
TERMINATE to be AVOID as in TARA framework
TREAT to be REDUCE
TOLERATE to be ACCEPT
TRANSFER to be TRANSFER (the same)
Thank you.
Yes. 4Ts and TARA are the same.
Sir in the project gateways, you said that we cannot go to the next stage until the current stage is independently reviewed. My question is that who will review the stage? Thanks
An independent review committee. Could be the board.
How do we decide paths in Critical Path Analysis? Such as ACDE, ACE, BDF and BE? It confused me a bit and relating to the chart, How do we know which activities can we extend?
You look at all the possible paths, moving forward only.
Any activity not on the critical path has some flexibility.
It is covered in the lectures.
Its also more of a control mechanism,from start, which mitigates the risk factors in any project. It also reduces the deviation from project as it is being continuously reviewed.
Am i right?
Thanx Mr. Gormit.
Yes, but I think mainly don’t progress until what’s happened already is OK otherwise oyu might be throwing good money after bad.
Thanks a lot.
Dear Tutor, how can we apply this to a construction business projects, companies that provide mechanical products, such as refinery or petrochemicals storage Tanks or Vessels. As the job is always unique in nature from previous one thus fall under projects.
I was referring to Projects Gateway.*
The new peoject should still go through the approval stages. Gateways are really about approval: don’t go further until someone has reviewed what’s been done so far and has said it’s OK.