Preparing a Risk Register
Assignment is to design and present a complete risk register associated with the scenario provided.
Risk Register Assignment
You are the project manager assigned to a project to upgrade an old bus shelter. The shelter is located along South Street travelling eastbound. South Street is a dual highway with a speed restriction of 45 miles an hour. There are three eastbound lanes and a concreate sidewalk. The bus shelter is set back from the roadway approximately 5 feet. To the rear of the bus shelter is a cul-de-sac surrounded by residential dwellings and a brick wall in close proximity to the bus shelter. The enclosed photos are provided to you as a resource to be used in completing the assignment.
Your supervisor discusses the project with you and requests that you develop a risk register associated with this project before work begins. You will need to identify potential risks including threats and opportunities, and develop a Risk Register in Microsoft Excel (.xls) format.
Your assignment, is to design and present a complete risk register associated with the scenario provided. Your risk register should include the following items:
Risk Identification – You are to identify and list at least five potential risks associated with this project. This list should include at least one opportunity risk. Each risk is to be clearly described so that it can be easily understood and relatable to the project.
Risk Category – Determine and list the corresponding category associated with each risk. For example, is the risk you identified associated with schedule, scope, budget, etc.
Likelihood/Probability – Estimate and list the likelihood of each risk occurring. You must identify and explain the scale selected. For example, you can use a high, medium, and low scale, however, this scale must equate to numerical values to provide for effective risk score calculation – i. e. High = 10
Impact – Estimate and list the impact on the project of each risk should it occur. You must identify and explain the scale selected. You may select either a qualitative or quantitative scale.
Rank – For each risk, calculate and list a Risk Score (i.e. Probability and Impact Score) which will enable you to rank and prioritize each risk. Then be sure each risk is assigned a priority number. You are not required to re-order your risks on the Risk Register.
Root Cause – For each risk, list at least one potential root cause that may be the true reason behind the risk being present. There should be one root cause associated with each risk. Each root cause must be clearly described and be understandable. For example, “poor planning” is not an acceptable root cause. You should also identify and briefly describe one root cause analysis technique you would use to assist in this discovery.
Risk Response Strategy – For each risk, create at least one response strategy to be used to address the risk should it occur. Your risk response should be clear and understandable. You should also identify and include the category of your risk response, i.e. Avoidance, Mitigation, etc.
Risk Response Cost – For each risk response, provide an estimated cost, to implement the strategy.
Risk Owner – For each risk list who will be the owner of the risk. You may create fictitious names and titles that can be used to complete this portion of the risk register.
Risk Status – List a hypothetical status for each risk. The status should be clear and understandable.
Other Fields – Identify at least one field you as the project manager would add to your Risk Register that may be needed for this specific project, or one that you believe will be helpful to your project team.
UNIT 7 – Preparing a Risk Register
Individual Assign
m
ent
By
Shraddha Vyas
PMGT530-51-B-2019 – Procurement Contracts and Risk Management
https://www.coursehero.com/file/66678812/Unit-7-Risk-Register-Assignmentdocx/
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https://www.coursehero.com/file/66678812/Unit-7-Risk-Register-Assignmentdocx/
Risk Register Assignment
You are the project manager assigned to a project to upgrade an old bus shelter. The shelter is
located along South Street travelling eastbound. South Street is a dual highway with a speed
restriction of 45 miles an hour. There are three eastbound lanes and a concreate sidewalk. The
bus shelter is set back from the roadway approximately 5 feet. To the rear of the bus shelter is a
cul-de-sac surrounded by residential dwellings and a brick wall in close proximity to the bus
shelter. The enclosed photos are provided to you as a resource to be used in completing the
assignment.
Your supervisor discusses the project with you and requests that you develop a risk register
associated with this project before work begins. You will need to identify potential risks
including threats and opportunities, and develop a Risk Register in Microsoft Excel (.xls) format.
Your assignment, is to design and present a complete risk register associated with the scenario
provided. Your risk register should include the following items:
Risk Identification – You are to identify and list at least five potential risks associated with this
project. This list should include at least one opportunity risk. Each risk is to be clearly described
so that it can be easily understood and relatable to the project.
Risk Category – Determine and list the corresponding category associated with each risk. For
example, is the risk you identified associated with schedule, scope, budget, etc.
Likelihood/Probability – Estimate and list the likelihood of each risk occurring. You must
identify and explain the scale selected. For example, you can use a high, medium, and low scale,
however, this scale must equate to numerical values to provide for effective risk score calculation
– i. e. High = 10
Impact – Estimate and list the impact on the project of each risk should it occur. You must
identify and explain the scale selected. You may select either a qualitative or quantitative scale.
Rank – For each risk, calculate and list a Risk Score (i.e. Probability and Impact Score) which
will enable you to rank and prioritize each risk. Then be sure each risk is assigned a priority
number. You are not required to re-order your risks on the Risk Register.
Root Cause – For each risk, list at least one potential root cause that may be the true reason
behind the risk being present. There should be one root cause associated with each risk. Each
root cause must be clearly described and be understandable. For example, “poor planning” is not
an acceptable root cause. You should also identify and briefly describe one root cause analysis
technique you would use to assist in this discovery.
Risk Response Strategy – For each risk, create at least one response strategy to be used to
address the risk should it occur. Your risk response should be clear and understandable. You
should also identify and include the category of your risk response, i.e. Avoidance, Mitigation,
etc.
https://www.coursehero.com/file/66678812/Unit-7-Risk-Register-Assignmentdocx/
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https://www.coursehero.com/file/66678812/Unit-7-Risk-Register-Assignmentdocx/
Risk Response Cost – For each risk response, provide an estimated cost, to implement the
strategy.
Risk Owner – For each risk list who will be the owner of the risk. You may create fictitious
names and titles that can be used to complete this portion of the risk register.
Risk Status – List a hypothetical status for each risk. The status should be clear and
understandable.
Other Fields – Identify at least one field you as the project manager would add to your Risk
Register that may be needed for this specific project, or one that you believe will be helpful to
your project team.
https://www.coursehero.com/file/66678812/Unit-7-Risk-Register-Assignmentdocx/
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https://www.coursehero.com/file/66678812/Unit-7-Risk-Register-Assignmentdocx/
Project #: 1 Client: XY
Project: Upgrade of an old bus shelter PM: Kristin Becker
RISK
RISK
CATEGORY PROBABILITY IMPACT
RISK
SCORE
RISK
RANKING RISK RESPONSE
RISK RESPONSE
COST (ESTIMATED) RISK OWNER RISK STATUS
OTHER FIELDS/
TRIGGER
Weather
Conditions
External Risk 0.7 0.6 0.42 1
Authorize additional
hours to be worked to
maintain the
schedule; Paid out of
a contingency fund
$1k – $10k per day
depending on term
Project Manager Uncontrolled Uncontrollable
Delivery Delay External Risk 0.5 0.7 0.35 2
Have alternative
material/ material
from orther supplier
that can be received
to keep the
schedule
$2k per day
Vendor
Relationships Team
Lead
Mitigated
Insufficient
paperwork
Failed
Inspection
Technical Risk 0.5 0.7 0.35 3
Implement inspection
schedule and regular
reporting
$3k per day Sponsor Mitigated
Subcontractor not
following the plans
Shortage of
Staff (Illness)
External Risk 0.5 0.7 0.35 4
Hire additional staff
from staffing
contractor; have at
least two extra people
$120 per employee
per day
Project Manager Mitigated
Not hiring extra staff
to cover for sickness
Estimating
Errors
Mgmt Risk 0.4 0.7 0.28 5
Have vendors
available to provide
any materials needed
within 1 to 2 days
$3k per day
Vendor
Relationships Team
Lead
Controlled
Completing the
estimate without
reviewing details
Plans not
ready on time
Technical Risk 0.3 0.9 0.27 6
Charge the bus shelter
architect for any
additional costs
incurred due to the
delay in completing
the plans and
drawings
$4k per day Project Manager Mitigated
Architect not
planning schedule
respectively
Communicati
on Issues
Mgmt Risk 0.5 0.5 0.25 7
Determine where the
breakdown in
communication
occurred and
implement lessons
learned; schedule
regular team meetings
and disucss any
issues with the whole
team as well as
external stakeholders
$1k – $10k per day
depending on term
Project Manager Mitigated
Improper information
provided at the
beginning of the
project
Zoning Issue Technical Risk 0.3 0.7 0.21 8
Discuss with zoning
team and implement
contingency plan to
resolve issues at
earliest convenience
$5k per day Zoning Team Lead Controlled Insufficient research
Late Deliveries External Risk 0.3 0.7 0.21 9
Negotiate discount on
late deliveries to pay
for workers overtime
and make up for the
delay
$6k per day
Vendor
Relationships Team
Lead
Mitigated
lMaking late orders;
not using reputable
vendors
Subcontracto
rs behind
schedule
External Risk 0.4 0.5 0.20 10
Mention in contracts
that subcontractors
are responsible for
any overtime required
$6k per day
Vendor
Relationships Team
Lead
Controlled
Inadequate
manpower,
equipment and/or
materials
Permitting
delay
Technical Risk 0.2 0.7 0.14 11
Have people in
permitting
department on
standby
$6k per day Project Manager Controlled
Late request of
permits
RISK RESPONSEQUALITATIVE RATINGRISK IDENTIFICATION
RISK REGISTER
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