I need help calculating risk You have been selected to calculate the risk factor

Question

I need help calculating risk You have been selected to calculate the risk factors for a new project. In order to determine which risk factors should be prioritized by the project time, the table below has been developed to identify the top six risks associated with this project. You must consider the different calculations that should be used to identify which risks are priorities. You must explain which calculation you have decided to use and why. You must identify which risks must be addressed and identify which are high risk and which are medium risk. Assuming that the project is feasible, you must give a general economic and environmental appraisal for the project, given the listed risks. Risk Element Risk Element P C 1 .9 .7 2 .8 .9 3 .8 .8 4 .2 .9 5 .1 .2 6 .2 .2

Explanation / Answer

the obvious sources of risk relate to requirements clarity, vendor involvement/procurement, change management issues (organizational), and resource availability. I think the one that blind sides a lot of PMs is stakeholder influence (negative) - on large complex projects, not doing a thorough job of stakeholder analysis and understanding on a regular basis who stakeholders "feel" about your project can cause problems. I feel that stakeholder analysis is like risk management - do it only during initiation or planning and you'll get into trouble - it has to be a whole lifecycle practice.

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