Exercise 7.1 Risk Matrix Background This exercise continues your student project that will be used for several homework exercises. The scenario is that you work for the fictitious company: Bear Claw Corporation. You are a project manager assigned to a new project. You are in the defining and planning phases and tasked to produce the project planning documents. This exercise creates a risk matrix. Directions Produce a risk matrix that includes risk identification, risk assessment, and risk response steps. First, identify at least ten risks. Endeavor to select at least one risk from each category. Scope Schedule Budget Internal External . Second, assess each risk in a risk matrix by scoring its likelihood and impact (skip detectability) to rank the major risks. Third, for the top four major risks, determine a risk response. Escalate Avoid Transfer Mitigate Accept Produce a one or more tables to organize risk matrix