Example Project
Create a risk register for your example project. Categorize each risk, list potential causes, and list potential responses for each cause.
Describe what each project success measure looks like on your example project. Identify at least three risks to each success measure, determine which are major risks, and for each major risk develop one or more contingency plans. Identify whether the contingency plan is an avoidance plan (reducing the probability of the risk event), a mitigation plan (reducing the impact of the event), or both.
Facilitate a discussion with the sponsor and other key stakeholders of your project. Have them determine the relative importance of their priorities and document them, as shown in Exhibit 10.2.
Perform a risk review for your example project. Use at least three types of review. Which of these types gave you the most useful information? Why?
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EXHIBIT 10.2
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SPECIFIC PROJECT STAKEHOLDER PRIORITIES
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IMPROVE
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KEEP
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Scope
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X
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Quality
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X
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Time
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1 month to save $ 5,000
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Cost
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Want to save
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Contribution to Organization
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X
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Contribution to Socity
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X
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