Above are three $(3)$ scenarios based on real$-$life events that all have great risks associated with them.

Read each of the three $(3)$ scenarios above and select one to use for your assignment. These examples

of events are considered as a lesson learned for your own organization who is dealing with a similar or

potentially similar scenario. The above description is only a summary of the event, you should make sure

that you research each topic further to ensure that you have enough information to work on the

assignment.

Why Assessing Risk is the key to the project$$s success?

Instructions:

$1.$ In reviewing the three $(3)$ scenarios presented before, select one scenario to research further and

generate a list of risks for your organization$$s risk register creation.

$$ Please provide this list of risks in a risk register template. You will need to use a valid risk

register template to complete this process, but the final register is not going to be complete once

you do this first step.

Note: Expectations are that you have at least $25$ negative risks listed when you are done

with this process. In addition, you should try to identify at least $1$ opportunity. The opportunity

should be CLEARLY identified from the rest of the risks. A total of $26$ risks or more are needed

once you register is updated. Risks should be clearly stated and actionable. A helpful approach is to think in terms of an $$if

condition$,$ then consequences $($i$.$e$.$ if the vendor does not supply us with XXX$,$ we will not be able

to complete xxx portion of the work$).$ Remember that a lot of these risks will develop based on

assumptions you will make around the scenario $($Something for the purpose of planning that you

believe to be true, real and certain until proven otherwise$).$

$$ Each risk should be categorized $($meaning you need to have a category column filled$-$in with realistic

categories used$)$ but you do not need to create a risk breakdown structure $($RBS$).$

$$ A risk matrix properly configured $($suggestion here of $3$ x $3$ or $5$ x $5)$ needs to be used consistently

and provided as a reference with your risk register to support your work.

$$ Once identified, provide for each risk a numeric assessment of high, medium and low in terms

of probability and impact based on your matrix. Your matrix should also be provided as a reference

for the work but not explained as a risk management plan is not provided. Based on the results of

this assessment, you can then order or prioritize the risks in your register.

$2.$ Your risk register will now contain a prioritized list of risks for the scenario that you chose to

evaluate. For the purpose of this assignment, this is where your analysis will end. You DO NOT

need to complete the rest of the risk register fields.Targeting knowledge areas related to: Risk Identification and Qualitative analysis.

SPEED LIMIT $100H$

On September $26,2019,$

Ontario began a two$-$year pilot project

that saw speed limits raised to $110$

$k\frac{m}{h}$ on three sections of highway. As

the last part of this project is coming to

an end soon, you have been tasked

with generating a risk assessment

around increasing speed limits on

Ontario roads.

Limits across the country range from $70$

to $120k\frac{m}{h}.$ Data shows the same

around the world with some

exceptions. Data coming from the two$-$

year project estimate that limits should

be adjusted so to represent $85\%$ of the

speed actually being travelled on

highways. This would deter speeders

and stunt drivers while remaining safe

for the majority of the population.

It is difficult to remind people that

speed limits are upper limits and that

driving conditions need to be taken into

account.

KFC $($Kentucky Fried Chicken$)$

announced, mid February $2018,$ that

the UK and Ireland were shutting the

majority of their stores across the

Country due to$,$ of all things a shortage

of chicken that was caused by the

introduction of a new delivery

contractor, that had taken over from

an established food distributor that

had worked with KFC for years. There

has been a lack of trust and loss of

customers that is still being felt today.

Quack$-$quack chicken $($QQC$)$ a new

competitor to KFC wants to learn from

this grave error by having you perform

a risk assessment of their operations to

ensure that this risk or any other risks

won't cause the same issues for their

European locations.

You have been hired by a large

Insurance company to generate an

assessment of risk for the hair salon

industry in order to develop more

comprehensive salon insurance rates.

You have been asked to take into

account salon types that only offer hair

services and no other services such as

nails, make$-$up or spa treatments.

Other services will be examined in

their own separate assessment once

this initial one is done.