Risk Register

Topics: Risk, Probability, Project management Pages: 1 (277 words) Published: June 10, 2012
some risks during the first month of the Recreation and Wellness Intranet Project. However, all they did was document them in a list. They never ranked them or developed any response strategies. Since, several problems have been occurring on the project such as key members leaving the company, users being uncooperative, and team members not providing good status information. Tony has decided to be more proactive in managing risk. He also wants to address positive as well as negative risks

1. Create a risk register for the project using the data below as a guide. Identify six potential risks including risk related to the problems described above and include negative and positive risks. 2. Plot the six risks on a probability/impact matrix. Also assign a numeric value for the probability and impact of each risk on meeting the main project objective. Use a scale of 1 to 10 in assigning the values with 1 being low and 10 being high. For a simple risk factor calculation, multiply these two values (the probability score and the impact score). Add a column to your risk register to the right of the impact column called risk score. Enter the new data in the risk register write your rational for how you determined the scores for one of the negative risks and one for the positive risks. 3. Develop a response strategy for one of the negative risks and one of the positive risks. Enter the information in the risk register. Also write a separate paragraph describing what specific tasks would need to be done to implement the strategy. Include time and cost estimates for each strategy as well.