Posted: June 25th, 2022

Mpm344 u3ip | MPM344 Project Risk Management | Colorado Technical University

Deliverable Length:   3–5 pages (not including cover page and resource page)

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This week, you will use the provided template to complete the Project Risk Analyses and Risk Response Strategy sections. You may use those risks that you identified in Unit 2 or come up with new ones based on a different project scenario of your choosing.

  • Complete the Project Risk Analyses section by doing the following: 
    • For at least 5 risks, perform a qualitative risk analysis, and complete the probability and impact matrix. 
    • For at least 5 risks, perform a quantitative risk analysis, and complete the quantitative risk analysis results matrix. 
    • For each risk, estimate the probability of occurrence and the potential impact level using scales of 1–5, with 1 being the lowest probability and potential impact.
  • Complete the Project Risk Response and Implementation Strategy section by doing the following: 
    • For the above risks, determine the type of response strategy that you will use for each. 
    • Describe your response strategy for each. Describe the specific method of handling each risk. 
      • Strategies for positive risks include accept, enhance, exploit, and share. 
      • Strategies for negative risks include accept, mitigate, avoid, and transfer.

Click here to download a Word template to complete this assignment. You will use this template to complete Individual Projects in Units 1–5.

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