1. Outline 3 things about project risk management that can be incorporated as a PM. Why did you chose these 3 things? 2. Choose 1 risk from each risk category and compose a paragraph for each that addresses:

• Definition of this risk
• An example of the risk in context of a project
• A possible mitigation action

Appendix A: List of Common Project Risks WHAT COULD POSSIBLY GO WRONG? The following is not intended to be a complete answer to that question - you will need to assemble a diverse team and work this one through for yourself. However, the list below sets out many of the common and generic risks that can threaten a project. They are arranged according to the risk categories in Table 4.6 (on page 51). Marketplace risks People risks Financial risks Political change Loss of a key person Loss of funding Change in legislation/regulation . Stakeholder resistance Inadequate budget Macro-economic changes . Key people not involved Budget over-runs Demand untested . Change of sponsorship Cash flow Demand drops/increases . Insufficient resources - Change of ownership of business . Vendor/supplies unavailable - Insufficient capabilities Contract defaults Supplier stops trading . Availability of experts Price variances Sub-contractor failure . Cultural clashes Inflation Mergers/acquisitions - Strike Taxation Response to commercial tenders . Absences Interest rates Breakdown of commercial relationship . Illness Exchange rates Disputes and claims Accidents Bond yields . Criminal acts Market appetite Technical risks - Negligence Availability of credit Unrealistic functionality expectations . Poor workmanship . Fraud - Unrealistic quality expectations - Transport failure . Complexity Public perception - Novelty Pressure groups and NGOs Scope creep Security Process risks Natural and social risks Interface management - Performance measures not set . Weather - rain, snow, cold, heat, wind Configuration management . Performance measures inappropriate - Earthquake - Reliability . Inadequate or unreliable base data . Flood Maintenance Loss of key data - Landslip . Organisational structure mismatched Civil unrest Property risks Poor governance General strikes Damp/rot/mould . Inadequate oversight . Terrorism Pests . Weak decision processes . War Hazardous materials . Poor estimating - Epidemic Contamination Team miscommunications . Pestilence Waste disposal Maintenance failure . Famine Thef Stock control Equipment failure Power failure Security risks Planning constraints Tree preservation orders (TPOs) Rights of way disputes Access disputes Boundary disputes Ownership disputes Statutory undertaker (gas, electric, water, waste) lead times