Identifying & Analyzing Project Risks

Oct 13th, 2014
HelloWorld
Category:
Business & Finance
Price: $60 USD

Question description

Part 1 Identifying & Analyzing Project Risks

Write 500–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions with your classmates. Be substantive and clear, and use examples to reinforce your ideas.

The discussion assignment for this week will be to start developing the risk management strategy to be further expanded upon in your Individual Project for this week.

The following Discussion Board research will assist you in developing your Individual Project. Research at least 2 sources (which may include your textbook) to support your response.

  • List the project team members and stakeholders (at least 4) that can be utilized to assist in identifying risks.
  • What risk identification techniques will you utilize, and why do you believe that these will work best for your Key Assignment project?
  • What diagramming techniques will you use to fully explore specific types of risks?
  • Risks can be prioritized utilizing impact analysis. Identify the impact scales that you intend to use for both the impact to the major project objectives and the likelihood.

Part 2

 1500–2,500 words of new content  

For this assignment, you will use what you identified as your approach FOR PART 1 to identify and assess all of the risks that are associated with your project. You should identify a minimum of 8 risks then assess them by employing the techniques that you selected in the Discussion Board assignment.

For the compilation of your risk assessment component, you may use a table

Note: This is just a sample, and you may choose to represent it in a different format as long as you have all of the pertinent risk-related information, including the following:

  • Risk name
  • Risk description
  • Likelihood (using a scale)
  • Impact (use both as a scale and description)

Leave room to append more information later to show your mitigation strategy.

Deliverables:

The overall project deliverables are the following:

  • Update the Key Assignment Document title page with a new date and project name.
  • Update previously completed sections based on instructor feedback.
  • Complete the New Content below, and copy it under the sections in Key Assignment Document called "Project Risks Identification" and "Project Risks Assessment":
    • New Content
      • Project Risks Identification
        • Use the project risk categories that you brainstormed during the previous week to categorize the risks that you have determined for this assignment.
        • Show a list of stakeholders and project teams that you utilized to identify risks.
        • Thoroughly describe each project risk (at least 8), which includes the source for identifying the risk.
        • Identify and show the specific technique that you used to identify the risks, such as cause and effect, a fishbone diagram, a SWOT analysis, interview notes, and an assumption list.
      • Project Risks Assessment
        • Create a table similar to the sample above, or use another method to list the risk, the likelihood of occurrence, and the overall severity of impact if it occurs.
        • Fill in the table with the information from the project identification utilizing the 2 scales that you determined as a part of your Discussion Board assignment. Be sure to consider both the cost and schedule impact as you determine the overall impact.
        • Rank your risks based on both the likelihood and impact using a technique, such as 2x2 matrix as shown in the assignment description section.
  • Be sure to update your table of contents before submission.

Tutor Answer

(Top Tutor) Daniel C.
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School: Carnegie Mellon University
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