Identify three potential risks that you might encounter during the project’s execution and the potential impact of each risk on the project.

As part of your course project, you will need to provide a management strategy for working with stakeholders and the project team. An important part of that strategy includes a risk management process for addressing and managing risks to the project. In your reading assignments, you should have learned that risk is defined as the chance of something happening that will have an impact on project objectives. Risk is measured in terms of likelihood and impact.

In simple terms, risk management is intended to answer three questions:

• What could go wrong?
• What is the likelihood and impact of something going wrong?
• What can be done about it?

While it is impossible to plan for everything, being appropriately aware of potential risks and the impact they could have on a project makes it easier for you, your project team, and your organization to facilitate issues and crises if and when they happen.

In your initial post, address the following:

• Identify three potential risks that you might encounter during the project’s execution and the potential impact of each risk on the project.
• Select one of the risks you identified and outline a risk management process to briefly illustrate how you would escalate and communicate the risk to project stakeholders.
• Briefly explain the role social media might play in escalating or defusing the risk and how you would account for that in your process.