Problem
A. A risk probability or consequence is often described as being, low, medium or high. The probability and impact of risks can be charted by a project manager on a probability/impact matrix or chart. Using a project that you are familiar with, record at least ten risks on a probability/impact matrix. Thereafter, provide a reason for recording each risk in the quadrant that you have chosen.
B. Refer to the strategies to deal with negative project risks. Identify a project of your choice and deliberate on the negative risks identified. Analyze and critically discuss the strategies to deal with the negative risks that you have identified.
C. Positive project risks usually enhance the achievement of project objectives. Chose a project and identify at least five positive project risks. Apply the three strategies to deal with these identified positive project risks.
D. During the project plan risk response stage project risks are assessed. Identify a project that you are familiar with and assess the identified risks. Record at least ten of these risks on a risk response planning table. Thereafter, critically discuss the risk response plan for each recorded risk.