Your Project Team Is Interested in Determining an Overall Risk

question 49

Essay

Your project team is interested in determining an overall risk factor for your project to develop a personal submarine constructed entirely of Popsicle sticks and wood glue.Describe how you would develop reasonable estimates for each of the probability of failure categories and each of the consequence of failure categories.

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Definitions:

Complex Sales

Sales scenarios that involve multiple stakeholders, a high degree of customization, and a longer sales cycle, typically for high-value products or services.

Formula Presentation

A presentation by which the salesperson follows a general outline that allows more flexibility and tries to determine prospect needs.

Repeat Purchases

The action by customers of buying a product or service again, often indicating satisfaction and loyalty to a brand.

Need-Satisfaction

A sales approach focusing on identifying and meeting the explicit needs of the customer with suitable products or services.