30 May Question Team Deliverable #6: Risk Matrix (Week 6
Question
Team Deliverable #6: Risk Matrix (Week 6)
Purpose: Students will learn how to create a risk matrix, a tool that helps management make decisions about certain risk. This assignment will ensure that students:
are exposed to the process of identifying, categorizing, and assessing risks to the project;
can identify appropriate risks to the project and assess the likelihood and potential impact of each risk;
can identify appropriate risk response strategies and their effects (i.e., decisions and actions to take prior to the risk occurring);
can identify appropriate contingency plans that should be executed if the risk event does occur.
Outcomes Met With This Assignment:
contribute to a team activity to accomplish the goals of a project, recognizing the unique strengths and talents of individual team members
plan a project that meets organizational goals and that has a high probability of success
Instructions:
This assignment is the sixth of seven group assignments. As a group, you will develop a risk matrix.
NOTE: All submitted work is to be your original work. You may not use any work from another student, the Internet or an online clearinghouse. You are expected to understand the Academic Dishonesty and Plagiarism Policy, and know that it is your responsibility to learn about the instructor’s and general academic expectations with regard to proper citation of sources as specified in the APA Publication Manual, 6th Ed. (Students are held accountable for in-text citations and an associated reference list only.)
Step 1: Brainstorm
Task 1: Under Discussion on the main navigation bar, locate your group.
Task 2: In the LEO classroom (do not use external systems), participate in a brainstorming and collaboration session to
identify, categorize, and assess risks associated with your group project;
assess the likelihood and potential impact of each risk on the project;
identify appropriate risk response strategies and their effects (i.e., decisions and actions to take prior to the risk occurring); and
identify appropriate contingency plans that should be executed if the risk event occurs.
Step 2: Complete the Project Risk Matrix
Task 1: Open the Project Risk Matrix (in the LEO classroom as a link) and review the elements on each of the three tabs.
Task 2: Complete the risk matrix with the information identified in the brainstorming session. Make sure to follow the specific instructions provided within the risk matrix. Ensure that you specify a minimum of 10 risks across the various categories of risks.
Step 3: Review
Review the file to ensure all required elements are present and correct.
Step 4: Submit the Risk Matrix in the Assignment Folder
Have one member of the group submit to the Assignment Folder. When submitting the file, indicate which group members contributed to the assignment.
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