First name Last name Instructor’s Name Course Number DATE \@ "d MMMM yyyy" 13 November 2016 Q1 Levels of Risk Consider the following scenario: You’re the coach of a college football team and in the final seconds of a game with the team’s archrival you face a choice: 1.Choose a play that has a 95 percent chance of producing a tie score OR 2.Go for a play that has a 30 percent chance of victory but will lead to certain defeat if it fails. What would you choose? Why? How does an individual’s risk propensity affect how risk is managed? (This example was taken from “Management 11th Edition” by Richard L. Daft.) I would choose to play a 30% chance of winning. Having a tie score does not mean I have won. Winning is critical in every time was an issue my team and faced in the recent past. Our planning was not well documented and this wasted time during the project implementation period. To manage this risk my team and I had to strategize on how we will manage our time. We first created a plan that would guide us through the project implementation avoided unnecessary updates and created a to-do-list (Wang et al p. 167). This enhanced our efficiency and aided us in submitting class projects on time Works Cited BIBLIOGRAPHY Engineering Try. Try Engineering.org. 2016. www.tryengineering.org. Nicholson Nigel Mark Fenton-O’Creevy Emma Soane and Paul Willman. "Risk Propensity and Personality." Risk Propensity and Personality n.d.: 1-33. Wang Wenqian Junqi Zhao and Wenjing Zhang and Yu Wang. "CONCEPTUAL FRAMEWORK FOR RISK PROSPENSITY RISK PERCEPTION AND RISK BEHAVIOUR IN CONSTRUCTION PROJECT MANAGERS." 2015: 166-167. [...]
Please write a paragraph for each of the 4 questions.