Project Management

Problem Set #6

Attached Files:

•  Risk Register Template.docx Risk Register Template.docx - Alternative Formats (19.034 KB)

Risk Register ExerciseThis week's exercise will be to create a Risk Register for your selected project. Additional instructions are in the Word template. You must use the template provided.You will complete the attached Risk Register in attached template. A risk needs to be identified for each of your six (6) Key Deliverables (this would be listed under the Category column). This needs to be a thorough, well thought out risk register which provides detailed thought and consideration. An example of the Risk Register is available in Exhibit 11.9 on page 370 of the textbook.The following is a description of what should go under each column.Risk Description: Identify the Risk associated with the Deliverable.Impact: This is a narrative of potential impact if the risk should occur.Category: This will be the associated DeliverableProbability: This is a score of 1-5. A score of 1 would be if the probability of the risk occurring is very slight and a score of 5 is that is will almost likely occur.Impact: This is a score of 1-5. A score of 1 would be the impact would have little impact if the risk occurs and a score of 5 would be catastrophic impact if risk event occurs.
Score: This is the Probability multiplied by the Impact.Response Strategy/Solution: This should be a detailed plan on how to either limit the Probability of the risk event from occurring and/or a plan to reduce the Impact if it does occur. This must include direct correlation to the scores assigned to Probability/Impact. At least one of the risk response strategies from the textbook must be identified with course of action provided based on identified risk.