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Identifying & Analyzing Project Risks

Part 1 Identifying & Analyzing Project Risks
Write 500 600 words that respond to the following questions
with your thoughts, ideas, and comments. This will be the foundation for future
discussions with your classmates. Be substantive and clear, and use examples to
reinforce your ideas.
The discussion assignment for this week will be to start
developing the risk management strategy to be further expanded upon in your
Individual Project for this week.
The following Discussion Board research will assist you in
developing your Individual Project. Research at least 2 sources (which may
include your textbook) to support your response.
List
the project team members and stakeholders (at least 4) that can be
utilized to assist in identifying risks.
What
risk identification techniques will you utilize, and why do you believe
that these will work best for your Key Assignment project?
What
diagramming techniques will you use to fully explore specific types of
risks?
Risks
can be prioritized utilizing impact analysis. Identify the impact scales
that you intend to use for both the impact to the major project objectives
and the likelihood.
Part 2
1500 2,500
words of new content
For this assignment, you will use what you identified as
your approach FOR PART 1 to identify and assess all of the risks that
are associated with your project. You should identify a minimum of 8 risks
then assess them by employing the techniques that you selected in the
Discussion Board assignment.
For the compilation of your risk assessment component, you
may use a table
Note: This is just a sample, and you may choose to represent
it in a different format as long as you have all of the pertinent risk-related
information, including the following:
Risk
name
Risk
description
Likelihood
(using a scale)
Impact
(use both as a scale and description)
Leave room to append more information later to show your mitigation
strategy.
Deliverables:
The overall project deliverables are the following:
Update
the Key Assignment Document title page with a new date and project name.
Update
previously completed sections based on instructor feedback.
Complete
the New Content below, and copy it under the sections in Key Assignment
Document called “Project Risks Identification” and “Project
Risks Assessment”:New
ContentProject
Risks IdentificationUse
the project risk categories that you brainstormed during the
previous week to categorize the risks that you have determined for this
assignment.
Show
a list of stakeholders and project teams that you utilized to
identify risks.
Thoroughly
describe each project risk (at least 8), which includes the source for
identifying the risk.
Identify
and show the specific technique that you used to identify the risks,
such as cause and effect, a fishbone diagram, a SWOT analysis,
interview notes, and an assumption list.
Project
Risks AssessmentCreate
a table similar to the sample above, or use another method to list the
risk, the likelihood of occurrence, and the overall severity of impact
if it occurs.
Fill
in the table with the information from the project
identification utilizing the 2 scales that you determined as
a part of your Discussion Board assignment. Be sure to consider both
the cost and schedule impact as you determine the overall impact.
Rank
your risks based on both the likelihood and impact using a technique,
such as 2×2 matrix as shown in the assignment description section.
Be
sure to update your table of contents before submission.

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