1. A project manager wants to assess the risk of scheduling delays. He/she considers that it is very likely to have a delay from 1 to 5 days, which will cost the project less than $10,000. It is likely to have a delay of 6-10 days with an additional cost between $10,000 and $20,000. It is possible to have a delay of 11 to 20 days with a cost of $30,000 to $40,000. It is unlikely to go over this time delay and have a delay of 21 to 30 days, which if it happens will cost $50,000 to $70,000. It is very unlikely that the project can be delayed more than 30 days, which in this case will cost more than $100,000.

1. Put this information in a Risk Matrix.
2. (a) Show the calculations for the entries of the Risk Matrix.
3. (b) Put the colors on the cells and explain the criteria that you used for the selection of the different colors.
4. (c) Discuss the action plans that you would put that would correspond to the different colors.

Answer rating: 100% (QA)

a Calculations for the Entries of the Risk Matrix For the entries of the Risk Matrix the project manager should calculate the probability of each delay and the associated cost The probability of a del... View the full answer