homework

Perform a Qualitative Risk Analysis on a project that you know OR where you decide to obtain a further degree. 

1. Follow the instructions on (Qualitative Risk Analysis Templates) .  Include no less than six entries.

2. Perform a Quantitative Risk Analysis on at least three of your items above (or alternatives) following the instructions on (Quantitative Risk Analysis Template) of our text.

Qualitative Risk Analysis Templates

Please visit RMC project Management web site at www.rmcprojec.com/risk to download the full version of the following form.

Assumptions Testing.

“What assumptions have been made?” Before the project manager can use the risk information collected, assumption made in determining risk must be tested. Too many unknown guesses make the data unreliable and risky. Additional risks are added to the project if these assumptions are wrong.

Use your own scale of interpretation, or use this one: A stability rating of 5 to 10 means the assumption is valid. A consequence rating of 5 to 10 means the assumptions could have a large impact on the project.

Assumption	Stability	Consequences If false

Data Quality Assessment

Beginning in the perform qualitative Risk Analysis process, the project team will be relying on the data about risks acquired in the Identify Risks process. It would therefore be wise to make sure the data to be used in the Perform Qualitative Risk Analysis process is precise and reliable. We need to ask ourselves, “How well is the risk understood?”

Quantitative Risk Analysis Template.

Please visit the RMC project Management Web site at ww.rmcproject.com/risk to download the full version of the following form.

Step to follow:

1. Take your risks from the Perform Qualitative Risk Analysis process and numerically determine the probability and impact of the time and cost of each risk.

2. Determine the expected monetary value of the project.