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You were the project leader for Casino Night on campus, a charitable event organized by your group to raise money for the homeless. The event was a big success, garnering a net profit of $3,500. Before the event your team researched nearby organizations that support the homeless and to whom the money could be given. You narrowed the choices to the Chunk of Coal House and St. Mary’s Soup Kitchen. Eventually your group decided that the funds should be given to Chunk of Coal House. You are about to write a check to its director when you read in the local newspaper that the Chunk of Coal House has terminated operations.
1-1 What should you do with the money?
Assume that you have the following decision-making options:
(1) make decisions on your own with available information,
(2) consult others before making a decision, and
(3) call a meeting and reach a consensus, seeking to arrive at a final decision everyone can agree on.
1-2 Which approach would you use to make the decision, and why?
2- Watch the short video in the following link:
How Project Managers handle Risk in Projects explain.
Risk in Projects bring Opportunities as well Threats. Explain