Reference no: EM13219399
Outline of Risk management plan
Provide a brief description of the project
Describe what tools, techniques and processes you planned to use in the project
Describe the involvement of your project team members in establishing the risk management context and risk management planning
Risks as opportunities
Think of at least two risks that presented as an opportunity to enhance project objectives or negative risks that could be thought of in a positive manner. Describe the positive risks in the space.
Consequence and Likelihood
List the [project risks and assign a rating to each risk for both its consequence (impact) and likelihood (probability) of occurring using the rating scale used in Tables 3 and 4. Then provide a description of the risk's potential consequence and likelihood of occurring. Be sure to include some 'positive' risks as well which may present opportunities to enhance project objectives.
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Risk
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Consequence rating
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Description of possible consequences
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Risk
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Likelihood rating
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Explanation of likelihood rating
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Combined consequence and likelihood ratings
Combine the consequence and likelihood ratings in Activity 7 and place the results in a matrix such as the one shown in Table 5. Write down the ratings (high, significant, medium, or low) for each risk in the table below.
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Risk
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Combined Rating Total
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Quantitative risk analysis techniques
What quantitative risk analysis techniques are you familiar with that are used in your organisation? List them below and provide a brief description of why these tools are preferred by your organisation.
Reflection Prioritisation of risks
Having combined the consequence/likelihood ratings in the previous activity, assign the risk with the highest priority a score of "1", the next most significant one a rating of "2", and so on. Provide a rationale for why you prioritised the risks that way you did.
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Risk
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Combined Rating Total
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Risk Priority
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Rationale for Prioritisation
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Risk response strategies
For the risks you identified, analysed and prioritised in the previous activities, for each identified risk apply at least one risk treatment strategy explaining and justifying your response. Use the table below to guide your thinking in this activity.
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Risk
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Option
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Explanation of treatment
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Rationale for treatment
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Avoidance
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Mitigation (consider both consequence and likelihood)
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Transference (In Full Or Part)
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Acceptance
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Exploit
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Share
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Enhance
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Undertake risk monitoring and control activities
: The processes you used to undertake risk monitoring and control activities and an indication of the frequency of risk monitoring and control activities?
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Explain structural-functional analysis
: Perform an internet search to find more information. a) Structural-functional analysis: the importance of culture; b) Symbolic-interaction analysis: the personal meaning of race; and, c) Social-conflict analysis: the structure of inequality.
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Risk management activities in a report
: Create a risk register for the risks you have identified in each project you have managed/are managing Document the results of your risk management activities in a report.
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Explain paper currency serve the functions of money
: Paper currency is the most easily recognized form of money. How well does paper currency serve the functions of money if we have an inflation rate of 50-percent per year?
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Describe the involvement of project team members
: Describe what tools, techniques and processes you planned to use in the project and describe the involvement of your project team members in establishing the risk management context and risk management planning
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What is the expected wage in the nearby city
: Five members in a family own a farm in rural Mexico. 2 people = $1600 TFO. 3 people =$3000 TFO. 4 people = $2300 TFO and 5 people = $2500 TFO. Each member has the opportunity to migrate to the nearest city where there are two different types of job..
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Examine the economic impact of current approaches
: Analyze the economic impact of current approaches to controlling air pollution to determine which approach is the most effective. Provide support for your rationale.
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Show the service model of virgin airlines
: Service Model of Virgin Airlines including an introduction to the company, the relative strengths and weaknesses of their customer service model.
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Why would you hire the new sales associate
: Suppose you are considering adding another sales associate to the floor. Your current total sales are $40,000 per day and your cost of sales, including the sales associates are $66,000 per day. The new sales associate should increase sales
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