Description
Qualitative Risk Assessment. Imagine that you are a member of a project team that has been charged with developing a new product for the residential building industry. Using a qualitative risk analysis matrix, develop a risk assessment for a project based on the following information: :
Identified risk factors Likelihood
1. Key team members pulled off project 1. High
2. Chance of economic downturn 2. Low
3. Project funding cut 3. Medium
4. Project scope changes 4. High
5. Poor spec. performance 5. Low
Based on this information, how would you rate the consequences of each of the identified risk factors? Why? Construct the risk matrix and classify each of the risk factors in the matrix.
2 pages, APA format and references
Explanation & Answer
Attached. Please let me know if you have any questions or need revisions.
Running head: RISK ASSESSEMENT
1
Risk Assessment for a Project
Student Name
Institution Affiliation
RISK ASSESSEMENT
2
Risk Assessment for a Project
Consequences of the identified risks
1. Key team members pulled off project - High risk
Team members include all individuals that work towards the success of a project. When
key team members are pulled off a project, there is a high likelihood that the project will fail.
The project will not be delivered in time without the key team members. Decision making
processes will also be affected because key team players are responsible for making decisions
that will govern the execution of the project (Hillson, & Simon, 2020). Working as a team brings
about different ideas that can be put together and the la...
Review
Review
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Similar Content
Related Tags
Nervous Conditions
by Tsitsi Dangarembga
East of Eden
by John Steinback
The Lord of the Flies
by William Golding
White Fang
by Jack London
Calypso
by David Sedaris
The Kite Runner
by Khaled Hosseini
Fools Crow
by James Welch
Their Eyes Were Watching God
by Zora Neale Hurston
Daisy Miller
by Henry James