2.1. The following information pertains to a Water purification project and the probability and impact of...

 

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2.1. The following information pertains to a Water purification project and the probability and impact of the risk in the Water purification project are gauged using a scale from 1 to 5, where 1 signifies the least likelihood and 5 denotes the highest likelihood of occurrence. The risk identification or activities assigned are from R1 to R8. The risk profile of the project suggests that supplier delays in delivering purification equipment have a likelihood of 4 with a risk impact of 4 (R1). The responsible project owner is the procurement manager. Operational distribution due to extreme weather events has a likelihood of 2 and a risk impact of 4 (R7). The project owner is the project manager. The regulatory approval delays have a likelihood of 3 and an impact of 5 (R2). The risk owner is the project manager. Skilled labour shortages have a likelihood of 3 and a risk impact of 3 (R6). The project owner is the HR manager. The technical issues with purification technology have a likelihood of 2 and a risk impact of 4 (R3). The project owner of this risk element is the technical lead. Budget overruns due to unforeseen costs have been identified as having a likelihood of 4 and a risk impact of 4 (R5). The project owner is the finance manager. Community resistance or opposition has a likelihood of 3 and an impact of 3 (R8). The external stakeholder in this activity is the community relations manager. Environmental challenges affecting site selection have a likelihood of 3 and a risk impact of 3 (R4). The project owner of this risk element is the environmental consultant. Based on the details provided above and utilizing the relevant risk documentation, determine the risk level attributed to each identified risk factor by means of calculation. 2.2. Using the risk documentation developed in question 2.1 construct an applicable matrix to demonstrate the location of risk from a viewpoint of probability and impact ranking. 2.1. The following information pertains to a Water purification project and the probability and impact of the risk in the Water purification project are gauged using a scale from 1 to 5, where 1 signifies the least likelihood and 5 denotes the highest likelihood of occurrence. The risk identification or activities assigned are from R1 to R8. The risk profile of the project suggests that supplier delays in delivering purification equipment have a likelihood of 4 with a risk impact of 4 (R1). The responsible project owner is the procurement manager. Operational distribution due to extreme weather events has a likelihood of 2 and a risk impact of 4 (R7). The project owner is the project manager. The regulatory approval delays have a likelihood of 3 and an impact of 5 (R2). The risk owner is the project manager. Skilled labour shortages have a likelihood of 3 and a risk impact of 3 (R6). The project owner is the HR manager. The technical issues with purification technology have a likelihood of 2 and a risk impact of 4 (R3). The project owner of this risk element is the technical lead. Budget overruns due to unforeseen costs have been identified as having a likelihood of 4 and a risk impact of 4 (R5). The project owner is the finance manager. Community resistance or opposition has a likelihood of 3 and an impact of 3 (R8). The external stakeholder in this activity is the community relations manager. Environmental challenges affecting site selection have a likelihood of 3 and a risk impact of 3 (R4). The project owner of this risk element is the environmental consultant. Based on the details provided above and utilizing the relevant risk documentation, determine the risk level attributed to each identified risk factor by means of calculation. 2.2. Using the risk documentation developed in question 2.1 construct an applicable matrix to demonstrate the location of risk from a viewpoint of probability and impact ranking.

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21 Risk Level Calculation To calculate the risk level for each identified factorwell use ... View the full answer