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Risk Assessment

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Running Head: RISK ASSESSMENT
Risk Assessment
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RISK ASSESSMENT
Risk Assessment
Risk assessment of any project needs the application of a tool as well as a methodology
which aids in the qualitative and subjective assessment of the risks. The project of movement of
telecommunications to a new building for instance is subject to risks that are subjective to major
baselines of any other project including operability, schedule and cost.
An effective approach for risk assessment for the project would need a tool that is
modeled in a way that is well tailored towards all the common risks and also the unique risks that
may be encountered in the entire project life. An effective risk assessment tool ideal for a
telecommunication project would include a data sheet and a matrix that would ensure that all the
key aspects are considered throughout the process (Raz, 2001).
The tools of risk assessment
The tool that would be ideal for the review and the assessment of the telecommunication
project needs to be practical in nature and thus associated with effectiveness. A risk assessment
data sheet is one of the commonly used tools ideally for such big projects because of its
effectiveness. It aids in the documenting of the entire assessment results. It is designed mainly to
be applied in the assessment and review process with a risk assessment matrix in order to obtain
structured, rigorous and consistent assessment of the risks. The matrix on the other hand
primarily consists of two key elements which are the risk factors and the guidelines for risk
ranking.
The risk factors consists all the aspects that are considered to be of much influence
towards the project risk. The ranking guidelines are specifically qualitative statements that are
assigned to high, medium, and low risk category. The guidelines are thus of high importance as

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1 Running Head: RISK ASSESSMENT Risk Assessment Name Tutor Institution Course Date 2 RISK ASSESSMENT Risk Assessment Risk assessment of any project needs the application of a tool as well as a methodology which aids in the qualitative and subjective assessment of the risks. The project of movement of telecommunications to a new building for instance is subject to risks that are subjective to major baselines of any other project including operability, schedule and cost. An effective approach for risk assessment for the project would need a tool that is modeled in a way that is well tailored towards all the common risks and also the unique risks that may be encountered in the entire project life. An effective risk assessment tool ideal for a telecommunication project would include a data sheet and a matrix that would ensure that all the key aspects are considered throughout the process (Raz, 2001). The tools of risk assessment The tool that would be ideal for the review and the assessment of the telecommunication project needs to be practical in nature and thus associated with effectiveness. A risk assessment data sheet is one of the commonly used tools ideally for such big projects because of its effectiveness. It aids in the documenting of the entire assessment results. It is designed mainly to be applied in the assessment and review process with a risk assessment matrix in order to obtain structured, rigorous and consistent assessment of the risks. The matrix on the oth ...
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