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.