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Your textbook identifies key areas in executing purchases, and your PMBOK Guide reading for the week discusses strategies for overall project risk. Address the following in this discussion:

  1. Identify      a project of interest to you. Discuss the key areas involved in executing      purchases and explain why some of these areas pose a negative risk to the      project.
  2. Which      risk treatment strategies would you recommend to the project sponsor or      the project team for implementation?
  3. Provide      examples, citing different examples than those provided in your textbooks,      in your lecture material, and by your classmates.
  4. Support      your positions with at least one current (no older than five years)      scholarly source, beyond the course materials and textbooks. 

Chapters 6 in Mastering Risk and Procurement

Part I, Section 11.5 in PMBOK® Guide

Part II, Sections 3.23, 3.24, 4.9, & 5.11 in PMBOK® Guide

Brown, K. A., Hyer, N. L., & Ettenson, R. (2017). Protect your project from escalating doubts. MIT Sloan Management Review, 58(3), 79-87.

Eckerd, A., & Girth, A. M. (2017). Designing the buyer-supplier contract for risk management: Assessing complexity and mission criticality. Journal of Supply Chain Management, 53(3), 60-75.

Brown, K. A., Hyer, N. L., & Ettenson, R. (2017). Protect your project from escalating doubts. MIT Sloan Management Review, 58(3), 79-87.

Project Management Institute. (2017). A guide to the project management body of knowledge (PMBOK Guide®) (6th ed.). Newtown Square, PA: Project Management.

Wilson, R. (2015). Mastering risk and procurement in project management: A guide to planning, controlling, and resolving unexpected problems (1st ed.). Upper Saddle River, NJ: Pearson.