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Risk Name
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Risk Description
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Risk Likelihood Ranking
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Risk Impact Ranking
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Risk Impact Description
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Risk Response Type
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Risk Response Description
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Risk 001
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Work is not completed by task performer.
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High
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High
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The project cannot be completed unless this task is performed and the project will fail.
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Avoid
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Thoroughly define the task requirements and have another trained resource lined up in case first one does not perform.
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Risk 002
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Risk 003
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Risk 004
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a. Create a table similar to the sample above, or use another method to list the risk, the likelihood of occurrence, and the overall severity of impact if it occurs.
b. Fill in the table with the information from the project identification utilizing the 2 scales that you determined as a part of your Discussion Board assignment. Be sure to consider both the cost and schedule impact as you determine the overall impact.
c. Rank your risks based on both the likelihood and impact using a technique, such as 2x2 matrixes as shown in the assignment description section.
Project Risks Responsibility Plan
d. Include a responsibility matrix listing the stakeholders and project team members, with risk actions (or category of actions) along the top.
e. Next, fill in the table using the following letters, and refer to the examples in the Assignments section as "R" if they are responsible for monitoring and controlling the risk, "A" if they are the approver for taking action to respond to the risk, "S" if they have a support role in responding to the risk, and "I" if they only need to be informed. This is also known as a RASI chart.
Project Risks Monitoring & Control Plan
f. Include a detailed description of the overall monitoring process, including the techniques that will be used to monitor the existence and impact of individual risks.
g. Include a detailed description of the control process when a risk occurs.
h. Include a diagram flowchart to depict the steps in the control process from risk discovery through risk response.