Risk Management Planning an Overseas Vacation Discussion
Question Description
I’m working on a risk management question and need the explanation and answer to help me learn.
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Respond to the following:
Work breakdown structures (WBS) provide a framework on which costs, time, and schedule/performance can be compared against the budget for each level of the WBS. It’s important to understand that a WBS is commonly used to measure business value and reducing waste (Kerzner, 2022). There are several ways to create a WBS, depending on the components of your project. For example, your WBS can be outline structure, hierarchical, tabular, Gantt chart, or tree diagram. It may depend on the timeline, amount of repetitive units, or amount of project elements.
Select one of the following projects and complete a WBS for it, in the structure of your choice.
- An everyday or frequent personal task (getting ready for work, exercise routine, etc.)
- Planning an overseas vacation (flight, hotel, transportation, directions/guides, etc.)
- Buying a new (or new to you) car
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