Homework: Risk Identification Worksheet and Paper
Scenario
A construction company has been awarded the contract to build a pipeline in Alaska. The project timeline is of the highest priority because work can only be completed during the summer months due to adverse weather conditions. One of the suppliers of a key component has a longer lead time than is required to complete the pipeline but may deliver if the construction company will pay fees to expedite. There are other suppliers, but these suppliers are not on the construction company's approved supplier list, and it would take time to get them approved. There is a huge penalty in the contract if the project is not completed on time.
Write a 1,050 to 1,750 words paper in which you select one scenario from the Risk Identification Scenarios worksheet and do the following:
1. Define the risk management process.
2. Explain the role of risk management in the project planning process.
3. Describe at least two risks and their sources for the selected scenario.
4. Outline how the risk management may mitigate the risks for each risk listed.
5. Explain how you would document the risk.
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.