Team
Deliverable #6: Risk Matrix (Week 6)
Purpose: Students will learn how to create a risk matrix, a
tool that helps management make decisions about certain risk. This assignment
will ensure that students:
are exposed to the process of identifying, categorizing, and
assessing risks to the project;
can identify appropriate risks to the project and assess the
likelihood and potential impact of each risk;
can identify appropriate risk response strategies and their
effects (i.e., decisions and actions to take prior to the risk occurring);
can identify appropriate contingency plans that should be
executed if the risk event does occur.
Outcomes Met With This Assignment:
contribute to a team activity to accomplish the goals of a
project, recognizing the unique strengths and talents of individual team
members
plan a project that meets organizational goals and that has
a high probability of success
Instructions:
This assignment is the sixth of seven group assignments. As
a group, you will develop a risk matrix.
NOTE: All submitted
work is to be your original work. You may not use any work from another
student, the Internet or an online clearinghouse. You are expected to understand the Academic
Dishonesty and Plagiarism Policy, and know that it is your responsibility to
learn about the instructor’s and general academic expectations with regard to
proper citation of sources as specified in the APA Publication Manual, 6th Ed.
(Students are held accountable for in-text citations and an associated
reference list only.)
Step 1: Brainstorm
Task 1: Under Discussion on the main navigation bar, locate
your group.
Task 2: In the LEO classroom (do not use external systems),
participate in a brainstorming and collaboration session to
identify, categorize, and assess risks associated with your
group project;
assess the likelihood and potential impact of each risk on
the project;
identify appropriate risk response strategies and their
effects (i.e., decisions and actions to take prior to the risk occurring); and
identify appropriate contingency plans that should be
executed if the risk event occurs.
Step 2: Complete the Project Risk Matrix
Task 1: Open the Project Risk Matrix (in the LEO classroom
as a link) and review the elements on each of the three tabs.
Task 2: Complete the risk matrix with the information
identified in the brainstorming session. Make sure to follow the specific
instructions provided within the risk matrix. Ensure that you specify a minimum
of 10 risks across the various categories of risks.
Step 3: Review
Review the file to ensure all required elements are present
and correct.
Step 4: Submit the Risk Matrix in the Assignment Folder
Have one member of the group submit to the Assignment
Folder. When submitting the file, indicate which group members contributed to
the assignment.
