Q1: Identify at least 5 risks from the project you chose in week 2. Define each one below for each risks
a. Risk Name – a brief name of the risk
b. Risk Description – a short description of the risk
c. Category – what type or risk is it? Budget, Schedule, Resource, Other
d. Status – set to ‘Identified’
e. Likelihood – on a scale of 0-5 (reference the drop-down), what is the likelihood that this risk will occur.
f. Consequence - on a scale of 0-5 (reference the drop-down), what is the overall consequence to the project if this risk occurs
g. $ Impact if Risk Occurs – using a dollar value, what would be the financial impact if the risk occurred h. Trigger Event – what to watch for to know if this risk is starting to occur
i. Mitigation Plan – what are some steps you can do to help reduce the likelihood of the risk from occurring?
Risk 1:
Risk Name:
Risk Description:
Category:
Status:
Likelihood:
Consequence:
$ Impact if Risk Occurs:
Trigger Event:
Mitigation Plan:
Q2. Also identify at least 3 milestones in your project