Risk Management Plan - Reflective Writing - Management Assignment Help

Assignment Task

1. Risk Identification
A. Select and fully explain one risk event. Provide any relevant contextual information.
B. Fully explain two key causes only for your selected risk event

2. Qualitative Risk Analysis
A. Create a 5-level Consequence table (insignificant, minor, moderate, major, catastrophic).
Then explain why you have selected the criteria/objectives in your table (e.g. why is cost in your consequence table). Note: Examples of consequence table provided in Module 3 – but you must create your own that is applicable to your specific project objectives). You are not asked to explant the descriptions within the consequence table.

B. Qualitative Risk Analysis requires the use of 3 tables. Likelihood table (Cut/paste into your assignment- see below); Consequence table (from 2A above); Likelihood-Consequence table (copy into your assignment- see below)

C. For your selected risk, and using the Likelihood and Conseqeunce tables) explain and fully justify:
• level of consequences for consequence objective, if the risk were to eventuate
• Likelihood of risk event occurring

3. Risk Treatment - For your chosen risk:
A. Describe 3 specific possible treatments. Then fully assess each treatment then select/reject these treatments;
B. Fully explain and reflect on the level of residual risk based on the application of the selected treatment(s); and
C. Identify and analyse one possible secondary risk from yourselected treatment(s), and one treatment.

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