Discussion Post: Project Risk Planning
Core Objectives:
• Describe how to plan for risk management, identify risks, analyze risks, and create response plans for identified risks.
• Identify and classify risks for a project and populate a risk register.
• Describe various risk assessment techniques and tell when each is appropriate to use.
• Prioritize each risk on a project using an appropriate assessment technique and develop and defend at least one strategy for each of the high-priority risks.
• Compare and contrast the various strategies for dealing with risks.
Behavioral Objectives:
• Determine an individual's propensity to accept risk and use that to strategize about which risks to accept.
• Determine an organization's propensity to accept risk and use that knowledge to strategize about which risks to accept.
Technical Objectives:
• Select and utilize an appropriate quantitative risk analysis tool if qualitative risk analysis is not sufficient.
Reflection Forum:
Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.
Also, provide a graduate-level response to each of the following questions:
• You are hosting a large dinner party. What are two possible risks you would encounter? Identify at least one trigger for each.
• Give an example of a risk you have chosen to accept on a previous project. How did you make the decision to accept it? In retrospect, was that the right decision to make?
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.