Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Consider the following partial risk register for a project: Risk ID Risk C L Responsi

Consider the following partial risk register for a project: Risk ID Risk C L Responsi

Consider the following partial risk register for a project:

Risk ID

Risk

C

L

Responsibility

25

Failure in Thermal Vacuum

Catastrophic

Possible

T. Smith

31

Parts shortage

Moderate

Unlikely

F. Jones

32

Increase in overhead rate

Low

Likely

S. Basu

41

Late delivery of operation software

Moderate

Possible

C. Johnson

56

Inadequate funding available for next phase of project

Very high

Almost certain

A. Hidori

58

Loss of key personnel

Insignificant

Unlikely

N. Adam chewski

64

Battery losses charge

Very high

Possible

M. Jansen

72

Detectors fail to meet specifications

Moderate

Possible

G. Reynolds

After analyzing the given partial risk register, do the following:
Analyze the risk register and determine the ranking of risks from greatest to smallest, using just the descriptions. Next, calculate the risk factors for each of the risks in the table using the equation in Cooper (page 65, paragraph 5.2):
RF = P+C-(P*C)
In order to do this, you will have to convert the likelihood and consequence scores from descriptions to a scale from 0 to 1. (hint: use tables 5.4 and 5.7 for conversions)
After calculating the risk factors, list the risks and their risk factor in order from greatest to smallest.
Now, perform the following tasks:
Task 1:
Answer the following questions:
How did the risk factor calculation improve your ability to rank the risks?
How does having a risk ranking done with the risk factor equation help in focusing on the most strategic risks?
Task 2:
For at least one risk:
Create a risk probability chart and provide an explanation. Analyze the risk impact. Suggest a mitigation measure.
Submission Requirements:
Save your risk impact matrix in an Excel spreadsheet and your answers to the analytical questions in a minimum of 2 pages, and submit both files to your instructor through the Questa Learning Plan.
Include APA formatting for references and in-text citations.fin

Nov 26 2019 View more View Less

Answer (UnSolved)

question Get Solution

Related Questions