This week’s exercise will be to create a Risk Register for your selected project. Additional instructions are in the Word template. You must use the template provided.You will co
Problem Set #6
Attached Files:
Risk Register ExerciseThis week's exercise will be to create a Risk Register for your selected project. Additional instructions are in the Word template. You must use the template provided.You will complete the attached Risk Register in attached template. A risk needs to be identified for each of your six (6) Key Deliverables (this would be listed under the Category column). This needs to be a thorough, well thought out risk register which provides detailed thought and consideration. An example of the Risk Register is available in Exhibit 11.9 on page 370 of the textbook.The following is a description of what should go under each column.Risk Description: Identify the Risk associated with the Deliverable.Impact: This is a narrative of potential impact if the risk should occur.Category: This will be the associated DeliverableProbability: This is a score of 1-5. A score of 1 would be if the probability of the risk occurring is very slight and a score of 5 is that is will almost likely occur.Impact: This is a score of 1-5. A score of 1 would be the impact would have little impact if the risk occurs and a score of 5 would be catastrophic impact if risk event occurs.
Score: This is the Probability multiplied by the Impact.Response Strategy/Solution: This should be a detailed plan on how to either limit the Probability of the risk event from occurring and/or a plan to reduce the Impact if it does occur. This must include direct correlation to the scores assigned to Probability/Impact. At least one of the risk response strategies from the textbook must be identified with course of action provided based on identified risk.
RISK REGISTER EXERCISE
You will complete a Risk Register for your on-going Business Case project. Provide your Business Case. You will then complete the Risk Register in the template provided on the next page. Format the document so it is legible and easily read. You can adjust the row height or column width to achieve this formatting. Do not allow a single row to be split between two pages. The information required in each of the columns is as follows:
Risk Description: Identify the Risk associated with the Deliverable. Risks need to be known unknowns and not failure of planning or management.
Impact Statement: This is a narrative of potential overall impact if the risk should occur. This statement should thoroughly justify scores provided in Impact and Probability columns.
Deliverable: This will be the associated Deliverable from your Project Scope/WBS. Identify one risk for each of your six (6) Deliverables.
Probability (Column P): This is a score of 1-5. A score of 1 would be if the probability of the risk occurring is very slight and a score of 5 is that it will almost definitely occur.
Impact (Column I): This is a score of 1-5. A score of 1 would be the impact would have little impact if the risk occurs and a score of 5 would be catastrophic impact if risk event occurs.
Score (Column X): This is the Probability multiplied by the Impact.
Risk Response Strategy: This should be a detailed explanation on how to respond to the risk event. This must include direct correlation to the scores assigned to Probability/Impact. You will identify at least one of the Risk Responses from the textbook to utilize and explain the strategy for using this Response.
Business Case:
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Risk Description |
Impact Statement |
Deliverable |
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I |
X |
Risk Response Strategy |
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