FORMATIVE ACTIVITY 19: RISK MANAGEMENT

Answer all the questions below [Total: 30]

1. The Ishikawa or fishbone diagram is a useful tool for identifying causes of risks (or risk triggers). Select a project with which you are familiar and then place one potential risk in the head of the fish. Brainstorm all the causes for the risk. On completion reflect on why it is important to determine the likely causes. Refer to the glossary of terms for the Ishikawa (or fishbone) diagram if you are not familiar with this tool. (15)

2. The WBS is a critical input to identifying risks. The stakeholder register is also useful for soliciting inputs to the identification of risks (key stakeholders should be interviewed or participate in the risk identification process). In addition to the above, discuss other sources of data and information that inform the risk process. (15)