Risk Reporting (WBS)

timer Asked: Oct 5th, 2017
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Question description

Using the templates in this week's lecture (the slides in the Risk Reporting Example section), you must identify at least four (4) risks that would come from your project (using the WBS and schedule from earlier assignments).

Complete a risk summary for each risk and then plot those risks on the PROJECT RISK ASSESSMENT slide.

Risk Summary Worksheet Risk Title: [Name Your Risk Here] Risk #1 Updated: [Date] Date opened: [Date] Team: [Name of your project Team] Risk Owner: [Who owns the risk] Statement of Basic Cause: [Describe what caused you to identify this risk, and what will cause it to come true] Consequence if Risk is Realized: [Describe the impact to the project fully] 5 Risk Type (Check one in each area) Technical Likelihood Description of Risk: [Write a description of the risk to include justification of the likelihood and Impact] 4 3 Schedule Cost 2 X O 1 1 2 3 4 Consequence Risk Reduction Plan Action/Event BASELINE [Mitigation Action 1] [Mitigation Action 2] [[Mitigation Action 3] Date Risk Level if Successful Current Status Scheduled Actual [Date Planned] [Date you actually did it] [Description of what happened and if it worked] Suc Current Updated 5 4 Comments 5

Tutor Answer

School: Purdue University

Hello,Here you go, check it out. Feel free to invite me for more questionPlease not that the risk report has a plagiarism rate of 21% since it is a work sheet.Regards

Running head: RISK REPORTING


Risk Reporting
Institution Affiliation


Risk Reporting

The risk reporting system is an establishment of a comprehensive framework that is
developed and implemented to measure the performance of a project identified. There are
various risks which are established and determined in the project and work breakdown of
wedding ceremony planned.
The wedding management involves different types of risk during the preparation and the
entire or actual event. Firstly, the scheduling risk which affects the way a project should proceed.
They include natural factors, errors in estimations and delays encountered in the acquisition of
parts, and unexpected external vendor delays among others. The consequences realized maybe
inconsistent deals for the entire wedding management team (Daniels & Loveless 2013).
Secondly, the resource risk which mainly arises due to the outstanding issues about the
personnel management. A wedding involves a lot of people to manage the problems of attrition
while leaving key personnel permanently. For instance hiring a new worker at a later stage in a
given project may significantly slow down the entire progress of the operations.
Thirdly, the technological risk which may involve the delays in the functioning of
hardware and software failure in a given underlying platforms. For instance, a case where
through or at the middle of the wedding one might realize cloud service provider does not satisfy
the benchmark performance (Daniels & Loveless 2013).
Finally, the scope risk which determines the level of estimations in the quality and the
management of dependencies. Thus, an estimate of a particular activity is just guessed it
becomes an automatic risk if the clients keep adding requirements. Lack of proper
documentation can lead to the risk experienced.


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Thanks, good work

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