4

Book Pages:

· Chapters 7,8,14

· https://pm4id.org/chapter/11-2-risk-management-process/

· This section needs more developmental research on your part as all details are not provided in the book.

Careful and explicit planning enhances the possibility of success of the five other risk management processes. Risk Management Planning is the process of deciding how to approach and conduct the risk management activities for a project. Planning of risk management processes is important to ensure that the level, type, and visibility of risk management are commensurate with both the risk and importance of the project to the organization, to provide sufficient resources and time for risk management activities, and to establish an agreed-upon basis for evaluating risks. The Risk Management Planning process should be completed early during project planning, since it is crucial to successfully performing the other processes. The risk management plan identifies and establishes the activities of risk management for the project in the project plan (RMP)

· Please review assessments from the textbook. You need to include some of the results in your essay. In addition to these assessments, take a look at the following assessments and/or scales from textbook.

· 8-10 must provide overviews to your charts “full” pages of content, not including the title page, and a reference page.

· Least 10 scholarly references (last 5 years) required to support your responses; web sites can be used but will not count towards the minimum. YOU MUST INCLUDE REFERENCES FROM YOUR BOOK AND CITE PROPERLY

· NO DIRECT QUOTES are allowed from scholarly or non-scholarly resources; your full interpretation of the research is mandatory. Other professors might have different expectations regarding quotes. 

· You must follow APA FORMAT

· DO NOT WRITE IN FIRST PERSON

SET 1 (pg. 9)

1. Identify the risks by listing them and describing their potential impact on the project.

· Overview

· ENVIRONMENTAL

· DESIGN 

· RIGHT OF WAY 

· ENGINEERING SERVICE RISK 

· CONSTRUCTION 

· PROJECT MANAGEMENT 

· EXTERNAL

· NATURAL DISASTER

· AND THE MANY MORE....

2. Analyze the probability that the risk will occur and the potential impact of the risk.

· Overview

· Using probability charts develop the occurrence corresponding to the impact on the projects objectives, the time frame for response and organizations risk tolerance. This will be the QUALITATIVE RISK ANALYSIS.

3. Determine the overall severity or importance of the risk.

· Overview

· Analyze the effects of risk events that have prioritized by Qualitative risk analysis process and by other techniques like interviewing, probability distributions , sensitive analysis and many more, all of which fall under QUANTITATIVE RISK.

4.Determine which risks are most important for further action.

SET 2 (pg. 90)

· Develop a risk breakdown structure

· Monitor and Review, what risk techniques would you use?

**Make sure to look at the Images attached to the document to develop the charts necessary to support your risk management. Some are repeated charts but all of them are to give you an idea of different ways to develop the chart.

https://www.youtube.com/watch?v=Cp_XEhexcDw

https://www.youtube.com/watch?v=MTdFkPTTnsA&feature=emb_title

https://www.youtube.com/watch?v=x7A9idByPA4&feature=emb_title

https://www.youtube.com/watch?v=-E-jfcoR2W0&feature=emb_title