1. Qualitative Risk Assessment: You are a member of a project team that has been charged...

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1. Qualitative Risk Assessment: You are a member of a project team that has been charged to develop a new product for the Construction Industry. Using a qualitative risk analysis matrix, develop a risk assessment for a project based on the following information: Identified Risk Factors Likelihood Key team members pulled off project Chance of economic downturn Project funding cut Project scope changes Poor spec. performance High Low Medium High Low Based on the above information, how would you rate the consequences of each of the identified risk factors? Why? (10 points) Construct the risk matrix and classify each of the risk factors in the matrix. (10 points) 2. Quantitative Risk Assessment: Assume the following information: Probability of failure Maturity = .3 Complexity = .3 Dependency = .5 Consequences of Failure Cost = .1 Schedule = .7 Performance = .5 Calculate the overall risk factor for this project. (9 points) Would you assess this level of risk as low, moderate, or high? Why? (3 points) 1. Qualitative Risk Assessment: You are a member of a project team that has been charged to develop a new product for the Construction Industry. Using a qualitative risk analysis matrix, develop a risk assessment for a project based on the following information: Identified Risk Factors Likelihood Key team members pulled off project Chance of economic downturn Project funding cut Project scope changes Poor spec. performance High Low Medium High Low Based on the above information, how would you rate the consequences of each of the identified risk factors? Why? (10 points) Construct the risk matrix and classify each of the risk factors in the matrix. (10 points) 2. Quantitative Risk Assessment: Assume the following information: Probability of failure Maturity = .3 Complexity = .3 Dependency = .5 Consequences of Failure Cost = .1 Schedule = .7 Performance = .5 Calculate the overall risk factor for this project. (9 points) Would you assess this level of risk as low, moderate, or high? Why? (3 points)