Final Homework

Project Name:

Date:

Project Manager:

Phone/e-mail:

Probability Rating

Occurrence

Meaning

Zero

Will not occur

There is no chance that this risk will occur

Low (L)

Unlikely to occur, but could

1 – 24% chance of occurrence

Medium (M)

May occur

25 - 49% chance of occurrence

High (H)

Likely to occur

50 - 74% chance of occurrence

Critical (C)

Most likely will occur

74 - 99% chance of occurrence

Certainty (Assumption)

Not a risk

100% chance of occurrence, not a risk, but an assumption.

Level of Impact

Meaning

Zero

There is no impact if this risk should occur. Therefore, it is not truly a risk.

Low – Little impact

The impact on the project is minor but would be noticed by the customer or sponsor, and would create minor customer dissatisfaction.

Medium – Some impact to the project schedule

The impact to the project is moderate and would create customer and/or sponsor dissatisfaction with the project.

High – Major impact to the project schedule

The impact is major and would create significant customer or corporate dissatisfaction. It could jeopardize the project.

Critical (Very High) – Impact to project schedule cost

The impact is catastrophic and would kill the project.

Probability

Impact

Priority

Low

Low

Low

Low

Medium

Low

Low

High

Medium

Low

Critical

Medium

Medium

Low

Low

Medium

Medium

Medium

Medium

High

Medium

Medium

Critical

High

High

Low

Low

High

Medium

Medium

High

High

High

High

Critical

Critical

Critical

Low

Low

Critical

Medium

Medium

Critical

High

High

Critical

Critical

Critical