Risk Analysis

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Risk in a business or project or life is unavoidable. Risk is universal. A risk is an uncertain condition or event that has the possibility of occurring in a project in that if it occurs, it has a negative or positive effect the objectives of the project (Chadwick, 2013). This is a definition as provided by PMBOK Guide. To better understand it, risk is the likelihood something in the project will happened but not as planned in the initial planning. Risk is the possibility of something unexpected happening but it significantly influences the receiver either positively or negatively. In project management, there is the requirement to plan ahead of the initiation of a project. This includes accounting for any uncertain events that may influence the planned schedule of the project.

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Risk AnalysisNameCourseInstitution2Date3Table of ContentsTable of Contents ............................................................................................................................ 3Introduction ..................................................................................................................................... 4Initial Risk Assessment ................................................................................................................... 5Clarification of Project objectives .............................................................................................. 5Identification of possible risks .................................................................................................... 6Probability of Occurrence ........................................................................................................... 6Impact of Project Risk ................................................................................................................ 7Seriousness of the Risks.............................................................................................................. 7Potential Showstopper ................................................................................................................ 8Full Risk Analysis ........................................................................................................................... 8Scoring Risk ..................
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