Reference no: EM132133467

For this Assignment, you will consider the most effective usage of both qualitative and quantitative risk assessments methods as applied to the provided Pepsi Refresh Project case study. Consider the parameters of the case study. Address the following items for qualitative risk assessment in the provided Risk Management Plan Template: Explain how risk measurement scales will be developed. Will you use a standard organizational set of measurements or define your own? Explain how risks will be prioritized based on the defined qualitative measurement scales. Document risk measurement scales and their meanings in the project risk register in Columns H–J. For example, What does a “2” mean for probability? Is that 20% or 20-40%? What does a “4” mean for impact? Is that “project fails to meet one objective” or “project exceeds budget or timeline by 20%”? Address the following items for quantitative risk assessment in the provided Risk Management Plan Template: Explain how risk measurement scales will be developed. Will you use a standard organizational set of measurements or define your own? Explain how risks will be prioritized based on the defined qualitative measurement scales. Document risk measurement scales and their meaning in the project risk register in Column K. Remember that you do not conduct quantitative risk analysis on every risk – only the ones with the highest risk factor scores (P*I) that come out of qualitative risk analysis. Be sure to include your risk register with your Assignment.