Preparing Risk Assessment (Project Management)

Use template file attached. The my project file attached shows what I have done in my project so far. PLease use those details to complete work. Use weekly reading info as well. How can project managers assess today’s risks so that they won’t become tomorrow’s problems? Project managers are always on the lookout for risks and don’t sit back and wait for risk events to happen. We must take a proactive approach to managing uncertainty, but it is always helpful if we have a tool that helps us quickly identify, qualify, and quantify risk. This week you will prepare a risk assessment for your project. Assignment Instructions Prepare a risk assessment for your project, using this templatePreview the document. You’ll see in the blue section that the Analysis Section (Issue Log), has pull down menus for you to choose – Low, Medium, High. Your choices in these pull down menus will auto-populate the Evaluation section (Risk Log). Provide, at minimum, 10 risks to address in this exercise. In the end, your risk assessment should: Capture and prioritize the project risks (which the template helps you with) Indicate the impact and likelihood of the risk (which the template helps you with) Include a mitigation plan (a mitigation plan is one of the columns in the template) Include a contingency trigger and plan for each risk (a contingency trigger and plan are two of the columns in the template) Assign persons responsible for monitoring the risk Provide an overall status Your risk assessment will be graded based on whether it: Captures and prioritizes at least 10 project risks Indicates the impact, detectability, exposure, and priority of each risk (Issue and Risk Logs) Includes a comprehensibcqve response plan Includes monitoring details

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