Answering a Problem (Ch 16)

DescriptionAnswering a Problem (Ch 16)
Instructions
The assignment itself is basically what inside the below box. All the information outside the box is
general guidelines and instructions that are needed to complete the assignment.
Assignment: (Course Name : Planning the Project)
Create a project risk management document using the elements from this week’s lesson and
reading. The document should be in Word and include the following elements:

Planning – describe your strategy for handling risks in your project.

Identification – list at least seven negative risks and three positive risks for your project.

Qualitative analysis – use a probability and impact matrix, past experience, or some other
technique to prioritize the risks.
Quantitative analysis – based on the prioritization of the risks, determine a number for each

risk such as a monetary figure or days the risk event will affect the project if the risks occur.
Response planning – determine the strategy to handle each of the risks: Escalate, exploit,

enhance, share, or accept for positive risks and escalate, avoid, mitigate, transfer or accept
for negative risks.
Response implementation – assume three of the risk events occurred and describe how the

responses you chose worked to handle each risk.
Monitoring – describe how you will monitor your project for new risks and review the

implementation of responses for risks that have occurred. Tools such as data analysis, audits
and meetings can be used for monitoring.
A table in Word may be used for the Identification, Qualitative Analysis, Quantitative Analysis,
and Response Planning sections. The other sections can be in paragraph form.
Reading Materials:

Chapter 16 in the textbook “Project Management” 2nd Edition. 2014
ISBN: 978-1-77420-013-1
Author: Adrienne Watt
Chapter 16: Risk Management Planning

You can access the book for FREE in this link https://opentextbc.ca/projectmanagement
Guidelines:

Please answer the questions directly. No need for an introduction or conclusion.

Beside the textbook, use min of 2 quality scholarly (peer reviewed) sources and show that the
answers goes beyond the required textbook reading.

Please FULLY answer all the questions.

Please ensure to cite and reference your answers.
 Provide the page numbers along with in-text Citation.
Example: (Jones, 2018, p.201)

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