The purpose of the Risk Matrix is to provide a picture of the risk for the entire project. It is a communication tool. If you look at the template for week four you will notice some of the cells are blue. I believe these should be red. For the various categories, cells in the spreadsheet, you are expected to place, in each cell the number of risks, from your project that correspond to the cell type. Here are my expectations.
· List 10 risks from your project, using the appropriate risk metalanguage, along with your estimate of probability and impact. Using a separate table is fine.
· Include this list in your submission.
· Then use this list to complete the provided template.
· Again, remember to attach you name, as in assignment 1, and a brief project description.
Please keep in mind that these assignments are designed to help you create your final project. So the more thought and effort put in now will make life easier at the end.
Here is an example that may clarify things. If you look in your text on pages 214 and 215 or pages 69- 70, you will see two templates. Fig B5(6-2) shows how to determine the P-I for each individual risk. So let us say we are building a shed in the backyard. The contractor wants 50% of the bid up front. One of our risks is that the contractor may take the money and not complete the job. So looking at B5(6.2) for that risk, we figure the probability at Medium (31 - 50%). For this assignment, assume that you have gotten the opinion of an expert to make this determination