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
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
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