Question: In doing risk analysis for your project, you have identified the following risks items RISK RISK PROBABILITY COST IMPACT RISK CONTINGENCY A .7 $20,000 B

In doing risk analysis for your project, you have identified the following risks items

RISK RISK PROBABILITY COST IMPACT RISK CONTINGENCY

A .7 $20,000

B .25 $30,000

C .5 $16,000

D .10 $45,000

E .3 $18,000

F .30 $139,000

a) Calculate the expected value of each of these risks.

b) How much would you request for this project to be added to your budget as risk contingency?

c) Why wouldn’t you request the entire $139,000?

d) What would you do in the event Risk D occurs?

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