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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.


Definitions:

Distribution Intensity

The level of market coverage of a product, ranging from intensive, selective to exclusive distribution.

Selective Distribution

A distribution strategy where a product is sold at select outlets to maintain its image and high-quality perception.

Intensive Distribution

A strategy where a product is made available in as many outlets as possible, maximizing visibility and accessibility to consumers.

Exclusive Distribution

A level of distribution density whereby only one retailer in a specific geographic area carries the firm’s products.

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