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Question:
 
Identifying Sources of Risk
 
Identify the sources of risk in EACH scenario (don’t limit the number of risks). You will use this matrix
 
to complete each scenario. Include an introductory paragraph describing each scenario, and narrative for
 
each matrix to explain the details you entered. Include any assumptions that were made – if none, state
 
that also. DO NOT just include the scenario given you in the assignment.
 
Risk event
 
Probability of risk event
 
(1=high; 3=medium; 5=low)
 
Impact of risk event
 
(1=high; 3=medium; 5=low)
 
Scenario One:
 
A retail firm has a project that is focused on expansion into third-world countries to sell pharmaceutical
 
products. The project timeline is, as always, aggressive. The scope is well documented and understood by
 
the project team and key members of the firm. The firm is financially sound, with project funds secure;
 
however, the stakeholders expect that the project will pay for itself within 2 years of deployment.
 
Scenario Two:
 
A construction company has been awarded the contract to build a pipeline in Alaska. The project timeline
 
is of the highest priority because work can only be completed during summer months due to adverse
 
weather conditions. One of the suppliers of a key component has longer lead time than is required to
 
complete the pipeline, but may be able to deliver if the construction company will pay fees to expedite.
 
There are other suppliers, but these suppliers are not on the construction company’s approved suppler list
 
and it would take time to get them approved. There is a huge penalty in the contract if the project is not
 
completed on time.
 
Scenario Three:
 
A telecommunications company has just assigned you to be project manager for a product improvement
 
project. The scope statement of the project simply says, ‘Make this product better.’ The engineering team
 
believes that they know how to make the product better and have ignored ideas from the sales team. The
 
project funds are secure, as the company believes that improving this product will give them strategic
 
advantages.
 
Post as one (include all three scenarios’ matrix in one document) MS Word attachment in APA format by
 
Day 7 (Monday) to your Assignments Section.
 
[NOTE: The Written Assignments Grading Criteria applies to this paper – see those under the Course
 
Materials Forum]

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