Tony and his team identified some risks during the first month of the Recreation and Wellness Intranet Project. However,
Posted: Wed May 04, 2022 7:44 am
Tony and his team identified some risks during the first month
of the Recreation and Wellness Intranet Project. However, all they
did was document the risks in a list. They never ranked the risks
or developed any response strategies. Because the project has had
several problems, such as key team members leaving the company,
users being uncooperative, and team members not providing good
status information, Tony has decided to be more proactive in
managing risks. He also wants to address positive risks as well as
negative risks.
Tasks
1. Create a risk register for the project. Identify six
potential risks, including risks related to the problems described
in the previous paragraph. Include negative and positive risks.
2. Plot the six risks on a probability/impact matrix. Also
assign a numeric value for the probability and impact of each risk
on meeting the main project objective. Use a scale of 1 to 10 in
assigning the values, with 1 representing the lowest values. For a
simple risk factor calculation, multiply the probability score and
the impact score. Add a column called Risk Score to your risk
register to the right of the impact column. Enter the new data in
the risk register. Write your rationale for how you determined the
scores for one of the negative risks and one of the positive
risks.
Develop a response strategy for one of the negative risks and
one of the positive risks. Enter the information in the risk
register. Also write a separate paragraph describing what specific
tasks would be required to implement the strategy. Include time and
cost estimates for each strategy as well.
of the Recreation and Wellness Intranet Project. However, all they
did was document the risks in a list. They never ranked the risks
or developed any response strategies. Because the project has had
several problems, such as key team members leaving the company,
users being uncooperative, and team members not providing good
status information, Tony has decided to be more proactive in
managing risks. He also wants to address positive risks as well as
negative risks.
Tasks
1. Create a risk register for the project. Identify six
potential risks, including risks related to the problems described
in the previous paragraph. Include negative and positive risks.
2. Plot the six risks on a probability/impact matrix. Also
assign a numeric value for the probability and impact of each risk
on meeting the main project objective. Use a scale of 1 to 10 in
assigning the values, with 1 representing the lowest values. For a
simple risk factor calculation, multiply the probability score and
the impact score. Add a column called Risk Score to your risk
register to the right of the impact column. Enter the new data in
the risk register. Write your rationale for how you determined the
scores for one of the negative risks and one of the positive
risks.
Develop a response strategy for one of the negative risks and
one of the positive risks. Enter the information in the risk
register. Also write a separate paragraph describing what specific
tasks would be required to implement the strategy. Include time and
cost estimates for each strategy as well.