STUDENT LEARNING OBJECTIVES:
Major Course Outcome: Predict the risks of a simple project example
Supporting Course Outcomes:
o Identify basic projectrisks
o Assess the significance of different projectrisks
o Describe the five different responses to managing risks
o Prepare possible contingency plans for managing simple risks
Institutional Learning Outcomes:
• Critical Thinking
• Communication Competence
INSTRUCTIONS:
1. Read Case 4.1 in Chapter 4 entitled “Celebration of Colors 5k”.
a. Do NOT answer the questions at the end of the case. Follow theseguidelines.
2. Identify at least 6 potential risks to the project.
3. Create a Risk Assessment Form (See 7.6) highlighting the following:
a. Risk Event
b. Consider what aspect of the Project Objective would be impacted by the Risk? (May
impact more than one objective)
i. Cost
ii. Time
iii. Scope
iv. Quality
c. Using the Numerical Scale in Figure 7.5, rate the impact of each type of risk for:
(Use your best judgement!)
i. Likelihood
ii. Impact
iii. Detection Difficulty
iv. When
Note: An assignment template is provided or create your own format.
4. Create a Risk Response Matrix, similar to Figure 7.8, highlighting the following:
a. Risk Event
b. Response: Choose: Mitigate, Avoid, Transfer, Escalate, or Retain; and write a short
phrase explaining “how”.
c. Contingency Plan: Write in short phrase
d. Trigger: Write in short phrase
e. Who is Responsible (You can assign!)
Note: An assignment template is provided or create your own format.
BMGT2250 Assignment Three Risk Assessment -2
5. Lastly write a short narrative addressing:
a. Which 3 risks should Brandon bemost concerned about, and why?
b. Elaborate on contingency plans he could employ.
c. Identify at least one positive risk.
d. Explain which response would be best for the positive risk: Exploit, Share, Enhance,
Escalate, Accept. (See Ch#7, page 231 of your text on positive risks.)
Note: Narratives should always be FIRST in your total assignment and charts at the end.
GRADING RUBRIC
CONTENT AREA POINTS %
WEIGHT
Narrative • Well written short narrative including:
o Introductory Paragraph (2 pts)
o Brief overview focusing on the 3 most critical
risk(s), why, and elaborating on contingency
plans. (9 pts)
o One example of a Positive Risk & response. (4
points)
o Professional business writing style,
grammatically & spelling correct.
(5 pts)
20 25%
Risk
Assessment
Form
• Six probable risk events identified in short phrases(2
pts each = 12 pts total)
• Risk Assessment Form appropriate completed for:
(.5 pts each = 12 pts total)
o Likelihood
o Impact
o Detection Difficulty
o When
• Assessment professionally presented. (3 pts)
27 33.75%
Risk
Response
Matrix
• One response appropriately identified for each Risk
Event. (2 pts each = 12 pts total)
• Plausible contingency plans outlined for each Risk
Event in short phrases. (2 pts each = 12 pts total)
• Trigger Identified for each Risk Event (.5 pts each =
3 pts total)
• Who is Responsible Identified for each Risk Event
(.5 pts each = 3 pts total)
• Matrix professionally presented. (3pts)
33 41.25%
BMGT2250 Assignment Three Risk Assessment -3
SUBMISSION FORMAT:
Submit your work in a WORD document by clicking on the link above and browsing to attach the
assignment.
1) WORD Document
a) Use 11- or 12-point font – Calibri, Arial, or Times New Romanpreferably
2) Header:
a) Name
b) Date
c) Course Number (BMGT2250)
3) Do not write in a Q&A format.
a) Use professional business language.
b) Should not be written in first person e.g. no “I” statements.
4) Double spaced.
5) Spell Check & grammatically correct.
6) Length: No longer than two pages.
7) Submit to link on Blackboard under OUR CLASSROOM>RESEARCH & WRITING ASSIGNMENTS folder