In Lesson 8, we discussed the need for a Project Team to create a detailed Risk Assessment. Assessing each risk involves determining the likelihood that the risk event will occur and the degree of impact the event will have on the project.

Each of these factors can be assigned a rating of high, medium, or low. In addition to assessing the likelihood, we need to identify the impact, action trigger, and response plan.

Develop a Risk Assessment table utilizing Excel for the BA421 Race to Remember project. Students should identify 7-10 risk events.