team assignment 6

Team Assignment #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. Students will be:

• 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
• identify, analyze, and evaluate the factors that contribute to the project selection process
• plan a project that meets organizational goals and that has a high probability of success

Instructions:

This assignment is the sixth of seven team assignments. As a team, 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 instructor 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 the risk associated with projects;
• identify appropriate risk to the team’s 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
• identify appropriate contingency plans that should be executive in the risk event occurs.

Step 2: Completing the Project Risk Matrix

Task 1: Open the Project Risk Matrix 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.

Step 3: Review

Task: Review the paper to ensure all required elements are present and correct.

Step 4: Submit the plan in the Assignment Folder.

Task: Have one member of the team to submit to the Assignment Folder.