Project Risk Register Sheet1 Risk Identification Qualitative Rating Risk Response RiskRisk CategoryProbabilityImpactRisk ScoreRisk RankingRisk ResponseTriggerRisk Owner 01 02 03 04 05 06...

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Project Risk Register Sheet1 Risk IdentificationQualitative RatingRisk Response RiskRisk CategoryProbabilityImpactRisk ScoreRisk RankingRisk ResponseTriggerRisk Owner 01 02 03 04 05 06 07 08 09 010 011 012 013 014 015 016 017 018 019 020 021 022 023 024 025 026 027 028 029 030 Key Terms Risk: The risk stated in a complete sentence which states the cause of the risk, the risk, and the effect that the risk causes to the project. Risk Category: Categorization of risks by scope, time, cost and quality Probability: The likelihood that a risk or opportunity will occur (on a scale from 1-99%) Impact: The impact of the risk on the project if the risk occurs (scale from 1 to 10 with 10 being the highest). Risk Score: Determined by multiplying probability and impact (scale from 0 to 100). Risk Ranking: A priority list which is determined by the relative ranking of the risks (by their scores) within the project with the number one being the highest risk score. Risk Response: The action which is to be taken if this risk occurs. Trigger: Something which indicates that a risk is about to occur or has already occured. Risk Owner: The person who the project manager assigns to watch for triggers, and manage the risk response if the risk occurs. This Risk Register Template is brought to you by www.projectmanagementdocs.com &"Arial,Bold"&14Project Risk Register www.ProjectManagementDocs.comPage &P of &N Purpose The purpose of this assignment is to assess your ability to create a plan for risk management. You should complete the reading and practice activities before attempting this assessment. The reading materials will be useful in identifying project risk and resources.   Assignment Instructions   For this assignment, use your imagination and choose one of the following project types: 1. a home- improvement project, 2. a gardening project, 3. a website creation project, 4. a corporate office move of several departments of workers from one building to another located in the same city, 5. a family vacation, 6. a wedding, or 7. another project to be approved by the professor. Choose a project you are familiar with, as this knowledge will help you in the planning process.   Risk management is comprised of three major activities: risk identification, risk analysis, and risk mitigation. Risk management is critical to project success by reducing uncertainty. Review the example risks listed in the ISA Risk Management Plan. Using these risks as an example, make a list of ten risks to your project leveraging risk register. Quantify the risks based on probability and impact.   For each risk, rate probability and impact to produce a score for each. After you have identified and scored ten risks for your project, using the matrix in figure 11-5 of your PMBOK Guide, examine each risk event separately based on the project objectives and try to place it in the appropriate grid cell in the Probability and Impact matrix from figure 11-10 of your PMBOK Guide. Determine what sources of risk and which risk events may be expected to affect your project. Quantify the risks identified to determine which risk events require a response. In doing so, according to figure 11-5, consider and describe impacts to  · Cost  · Quality · Schedule · Scope   Prepare a two page executive summary of your findings, not to exceed 500 words, addressing the key points of your research.   Minimum Submission Requirements   The risk register template is provided and all columns must be completed for each risk.   Risks need to be described in complete sentences. Probability scale used is 0%-100%. Impact scale used is 1–5, 1 being the lowest impact and 5 being the highest.   Executive summary must follow APA formatting requirements and be two full pages of content providing the overall risk assessment of the project.   APA citations are not required.
Answered 2 days AfterOct 19, 2021

Answer To: Project Risk Register Sheet1 Risk Identification Qualitative Rating Risk Response RiskRisk...

Ca answered on Oct 21 2021
122 Votes
Assignment
1
Executive Summary
Creating a website is hefty and complex task when doing for first
time, it includes Financial planning, Resource planning etc.
Risk Management is very necessary while web development is done, as going public and creating website involves various third party, who will be involved in website creation and who will have the access to the company’s data.
It involves various risk such as
· The data needs to be shared with third party, so Privacy and Security risk Is there.
· Cost Risk is there as it involves cost of failure, Data leakage etc.
· Risk is also there in choosing the correct third party for web development.
· Risk exist when the website faces more burden without sufficient bandwidth as system can crash due to overload
· Payment theft Risk is also there in digital world.
Purpose
Identification and analysis of project risks are required for effective risk management....
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