Project Risk Management: Case Study Tony and his team identified some risks duri
ID: 3348570 • Letter: P
Question
Project Risk Management: Case Study Tony and his team identified some risks during the first month of the Recreation and Wellness Intranet Project. However, all they did was document the risks in a list. They never ranked the risks or developed any response strategies. Because the project has had several problems, such as key team members leaving the company, users being uncooperative, and team members not providing good status information, Tony has decided to be more proactive in managing risks. He also wants to address positive risks as well as negative risks. Assignment – Project Risk Management 3 Tasks Create a risk register for the project using the Excel template. Identify six potential risks, including risks related to the problems described in the previous paragraph. Include negative and positive risks. Plot the six risks on a probability/impact matrix using the template. Also assign a numeric value for the probability and impact of each risk on meeting the main project objective. Use a scale of 1 to 10 in assigning the values, with 1 representing the lowest values. For a simple risk factor calculation, multiply the probability score and the impact score. Add a column called Risk Score to your risk register to the right of the impact column. Enter the new data in the risk register. Copy your impact matrix and new risk register to a word document and write your rationale for how you determined the scores for one of the negative risks and one of the positive risks. Develop a response strategy for one of the negative risks and one of the positive risks. Enter the information in the risk register. Copy your risk register and impact matrix to your word document with your rationale, response strategy, and a separate paragraph describing what specific tasks would be required to implement the strategy. Include time and cost estimates for each strategy as well.
Explanation / Answer
Answer:
Negative Risks and Positive Risks
1)Key members leaving the company
2)Team members not providing status information
3) Un-cooperative users
4) Quality
5)Time
6)Risk
_____________________________________________________________________________________
2)
RAnk Risk Description Category
1 Risk Unclear to analysis the risk Marketing
2 Team members not They don't have enough
( providing status information ) (Experience) Training
3 Key members leaving Not having proper intergration HR
(the company )
4) Quality Due to urgent, competition Production
5) Un-cooperative users new customers Production
6)Time Time is wasted because not analysis
(risk whether positive or negative earlier) Marketing
Rank Root Cause Potential Responses Probability Impact Status
1 _______ ________ High High Current risk
2 _________ ________ High High current risk
3 ___________ ________ High High Current risk and future risk
4 ___________ ________ HIgh HIgh Current risk and future risk
5 ___________ ________ Medium medium current risk
6 __________ __________ low low No longer exist
___________________________________________________________________________________
3) Key members leaving the company and Un-cooperative users are used for strategy analysis
For key members leaving Recreation time is very important the company never want to lose key players on those time, there is lack of co-operation with internal team and integration with them, arrange the meeting ask them stay here describe about job satisfaction or ask them to wait for suited employee recruit for those position
For Un-cooperative users : New customer do un-cooperation with trainers, this time we have to adjust with the customer, until customers feels they are safe and good environment.
Note:
for Recreation and Wellness Intranet Project, quality and un- cooperation uses may affect production
Production means here no of customers we are giving wellness program, so wellness program is the production.
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