Question 4 4.1 (10 marks) One of the main requirements for a risk model is the risk aggregation process. Using the risk

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Question 4 4 1 10 Marks One Of The Main Requirements For A Risk Model Is The Risk Aggregation Process Using The Risk 1 (221.17 KiB) Viewed 48 times

Question 4 4.1 (10 marks) One of the main requirements for a risk model is the risk aggregation process. Using the risk register you compiled in the previous section, estimate the probability and impact in terms of numerical values. Evaluate the average impact of the risks you identified using the aggregation of static values approach. Tabulate your response. 4.2 4.2.1 (5 marks) Risk Driven Occurences Using the table compiled in question 3, assess which of the risks identified should be considered (occurrence) and provide a range for the impact of the individual risks. The range should include a minimum, most likely and maximum value for each risk. 4.2.2 (5 marks) Based on the risks identified and data set defined above, calculate a possible total risk impact for the project using the risk aggregation of risk-driven occurrences approach 4.2.3 Discuss what the value means for the case study using an appropriate a typical diagram showing the end result of a simulation model for the ranges provided (5 marks)