TCO A: What process would you use for identifying project risks for a second Oresund Bridge project? What risks would you raise for each alternative? Taking into consideration that this is the 2nd attempt at the project, I would begin by creating a checklist based off historical information from the risk knowledge base in the first project as well as other bridge projects. I would then use brainstorming or even interviewing others and perform a SWOT analysis. I would then classify the risks to reduce any redundancy. I would begin to create a risk register for the identified risks. This register would allow me to see the decision points/events that exist, rank the risks and begin to analyze develop alternatives. The alternatives and any secondary risks involved will also be added to the risk register, which is something that will be revisited many times through out the project life cycle.
What process would you use for categorizing project risks for a second Oresund Bridge project? How would you actually categorize them? I would do qualitative risk analysis to assess the priority of the risks and the likelihood of occurrence and then place these into categories depending on the risks. I would create a matrix using the analysis that shows the probability and the impact of each risk and how significant it will be to the project. In regards to categorizing the risks, I approach would be to start looking at the last project as a baseline for the categories. However, depending on the risks identified I may use project phases or break it down further into the triple constraint categories of scope risks, resource risks and schedule risks. The main goal is to see what has the highest impacting risks are and use that to guide the categories chosen.
What process would you use for ranking project risks for a second Oresund Bridge project? How would you actually rank them? I would use a combination of quantitative and qualitative approaches like Expected...
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