The Team Project Presentation
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RiskProbability_P_andImpact_I_RiskMatrixMSPM1-GC10001.docxEnterprise Project Management MSPM1-GC4000
Edward Kleinert
Risk Management: Probability (P) and Impact (I) Risk Matrix
|
Risk Description |
Impact Type |
Probability Rating |
Impact Rating |
Priority Rating |
Risk Response |
Owner |
|
|
|
Business |
1 - None |
1 - None |
Probability x Impact |
Accept |
Identify and Describe Risk Response |
|
|
|
Scope |
2 - Low |
2 - Little |
|
Avoid |
|
|
|
|
Technical |
3 – Medium |
3 - Moderate |
|
Mitigate (P) |
|
|
|
|
Schedule |
4 – High |
4 - Heavy |
|
Mitigate (I) |
|
|
|
|
Resources |
5 - Certain |
5 - Devastate |
|
Transfer |
|
|
|
|
Cost |
|
|
|
|
|
|
|
1. Increase price on the cleaning services |
Business |
2 - Low |
2- Little |
4 |
Mitigate (P) |
Sign a contract with specific pricing, scope and time for the task to be completed. |
Project manager |
|
2. Change on the prices for food and beverages offer to stakeholders |
Business |
3-Medium |
2-little |
6 |
Accept |
Agree with suppliers on a price range in case prices drop or go up to be justified on both ways. |
Project Manager |
|
3.Labor strikes |
Scope |
3-Medium |
4-Heavy |
12 |
Mitigate(P)(I |
Choose a manager and formulate a rule to strictly manage workers. |
Project manager |
|
4.Insufficient vaccine |
Scope |
2-low |
5-Devastate |
10 |
Mitigate(I) |
Keep social distance and prepare disinfection supplies and masks. |
Project manager |
|
5. Shortage power |
Technical |
3-medium |
5-devastate |
15 |
Transfer |
Reach out to the venue technicians on site and try to find a solution as soon as possible. |
Project manager |
|
6. Not enough gowns for graduates |
Technical |
2-low |
4-Heavy |
8 |
Mitigate(I) |
Agree with the vendor to have more gowns on site than need in different sizes in case of an emergency |
Member 1 |
|
7. Vendor delay in delivery of critical equipment |
Schedule |
2-Low |
4-Heavy |
8 |
Transfer |
We can find multiple suppliers in advance. |
Member 1 |
|
8. Inclement weather(Rain) |
Schedule |
3-Medium |
2-Little |
6 |
Avoid |
We need to find an indoor place to hold the event. |
Member 2 |
|
9.Increase in the price of decorative materials |
Cost |
2-Low |
3-Moderate |
6 |
Mitigate(P) |
We need to sign a contract with the supplier in advance, so as to restrain the price. |
Member 1 |
|
10. Flowers picked for decoration not available for event day |
Resources |
2- Low |
3- Moderate |
6 |
Mitigate (P) |
We need to complete a work order, and the vendor compromises for this specific type of flower or product. |
Member 1 |
|
Principles of Project Management |
|
MSPM1-GC1000 |
|
Edward Kleinert |
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