[SOLVED] Project Risks

Part 1- Project Risks – 1 paragraph
Do all the project risks have to be closed? Or are the only risks that need to be closed the ones where a risk response was initiated? Which procurement risks, if any, can remain open? Would or should a project manager tie up a project for one remaining procurement deliverable? Why or why not? Please be specific.

Part 2 – Option Versus Fixed Contracts Scenario Resources
One of the main challenges of the procurement process is evaluating your choices between option versus fixed contracts, and deciding which will achieve the expected results at the lowest possible cost. Such decisions are based on a careful evaluation.
Preparation
use attached presentation to complete the assignment.
Begin your preparation for this assignment by completing the Option Versus Fixed Contracts media. Use your experience with  presentation to complete this assignment.
Deliverable
In this assignment, you are presented with a scenario for which an option contract and a fixed contract are offered. The interaction performs calculations to determine income, expenses, and profit for each contract type. You will run the scenario multiple times, comparing the results of each contract, and then choose the contract and set of results on which you will write your summary. Upon determining the contract type and quantity on which you will base your summary,
write a summary of your decisions. In your summary:
•    Describe the procurement strategy to be used by the ethanol manufacturer.
•    Explain the lowest cost scenario and how you arrived at your decision.
•    Explain the risks relative to the procurement strategy you selected. What are your reasons for picking this contract type?

Explain the lowest cost scenario and how you arrived at your decision.
•    Explain the risks relative to the procurement strategy you selected. What are your reasons for picking this contract type?
Be sure to use resear
Be sure to use research to support your decisions.