final project phase 4

Phase 4 In previous chapters and assignments, we discussed the importance of identifying and mitigating potential risks to a project. For this assignment, you must identify at least four risks to your project. At least one risk must come from an area identified by Kerzner in his discussion on ‘Hexagon of Excellence’ (Kerzner, 2014, p. 303).

• Management/Executive Support • Culture/Employees • Knowledge/training on implementing successful projects • Integration of the project into other organizational processes

The other risks can also come from Kerzner’s list or they can be other risks specific to your project (e.g., funding, weather). Be sure to coordinate your risks with information from your previous documents to ensure that they match (e.g., constraints/risks). For each of the risks that you identify, include the following information and complete the table below.

• Column 1 – Identify the Risk • Column 2 – Explain why you consider it a risk to your project. • Column 3 – Rank the importance of the risk to the success of the project. Rank them on a 5

point scale (5 = very important, 3 = somewhat important, and 1 = very unimportant.) • Column 4 - Explain the impact this risk has on the success of the project. • Column 5 – Identify the strategy you will use to mitigate the risk.

Be sure to clearly explain your answers. One or two word answers or bullet points are not sufficient. Risk Why is it a risk? Rank Impact on the Project Mitigation Strategy 1. 2. 3. 4. Assignment:

• Complete/submit a document based on the anticipated risks to your project. • Put your name at the top of the document and upload it in the appropriate area.