risk_management_in_corporate

May 20th, 2015
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Arkansas Tech University
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A probability/impact matrix or chart lists the relative probability of a risk occurring on one side of a matrix or axis on a chart and the relative impact of the risk occurring on the other.

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Project Risk ManagementTable 11-5. Sample Risk Register /Risk AnalysisNo.RankR441R212R73RiskDescriptionCategoryRootCauseTriggersPotentialResponsesRiskOwnerProbabilityImpactSeverityStatusProject severity = expectation (1-10) * impact (1-10)When should risk analysis be formed?Is not a time activityPeriodic update and reviewed2Calculating severityProblemStaffLate delivery of hardwareCommunication and NetworksproblemExpectation65Impact58Severity30405525Project severity = expectation (1-10) * impact (1-10)3Qualitative Risk Analysis Assess the likelihood and impact of identified risksto determine their magnitude and priority. Risk quantification tools and techniques include: Probability/impact matrixes The Top Ten Risk Item Tracking Expert judgment4Probability/Impact Matrix A probability/impact matrix or chart lists the relativeprobability of a risk occurring on one side of a matrixor axis on a chart and the relative impact of the riskoccurring on the other. List the risks and then label each one as high, medium,or low in terms of its probability of occurrence and itsimpact if it did occur. Can also calculate risk factors: Numbers that represent the overall risk of specificevents based on their probability of occurring and theconsequences to the project if they do occur.5Figure 11-4. SampleProbability/Impact Matrix6Table 11-

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