Problem Summary

Chapter 1 of the Cooper, Grey, Raymond, and Walker text immersed you in the terminology, process, and methodologies associated with risk management. The chapter introduced the five stages of risk management:

1. Establish the context.
2. Identify the risks.
3. Analyze the risks.
4. Evaluate the risks.
5. Treat the risks.

Identify a project-related problem that you experienced (or are experiencing) and prepare a short summary that applies each of these stages, from initial problem to the final opportunity. You may decide to convert your summary into a risk management map to visually chart your results. Post your summary or risk management map in the discussion area. Describe your process and any questions you have.