Instructions

After reading and understanding the ABCUPS case study presented in the lecture, answer the following questions:

Identify the risk categories and subcategories and classify them into an RBS as per Lesson $5$ in Plan Risk Management topic. Consider only two levels.

Define probability and impact scales as per Lesson $6$ in Plan Risk Management. Consider only three levels $($i$.$e$.$ High, Medium, Low$).$

Create a $33$ risk index priority matrix or probability & impact matrix as per Lesson $6$ in Plan Risk Management topic. Consider both threats and opportunities. You can either adopt the roman numbering or the

numerical scoring scheme. Instructions

Instructions

With reference to the same ABCUPS case study, answer the following questions:

Based on the nine negative risks $($i$.$e$.$ threats$)$ identified in the lecture, revisit the original RBS$,$ adjust the categories and subcategories then categorize the risks, that is place them at the last level.

Create a risk register and start populating it$.$

Are there any other negative risks or threats that can still be identified? If so$,$ what are they? Update the RBS and the risk register.

It is useful to revisit the point about the potential opportunities that may emerge from the uncertainty of project risk. That is$,$ you should consider how these uncertainties can open up opportunities for the

organization. For example, if your project team identifies several project risks $($market$,$ financial, technical, etc.$),$ brainstorming sessions can help determine if these risks are distinctly negative or if they open up

the possibility of finding innovative, win$-$win solutions by transforming them into opportunities. For example, a firm may have concern about the risk from possible governmental regulations regarding reducing

greenhouse gase to slow man$-$made climate change. These concerns can lead a firm to adopt one of two actions: $(1)$ defensive$-$ employing lobbyists to try and derail the legislation to maintain busines as

usual, or $(2)$ opportunistic $-$ getting out ahead of the regulations by challenging business units to start employing nontraditional, sustainable solutions to technical challenges, leading to new products or

processes that they can market to other firms facing similar challenges. As a result, it would be beneficial to consider both negative and positive consequences. Having said that, what opportunities or positive

risks can be identified, if any? Update the risk register. Consider one side for threats and another for opportunities. Instructions

With reference to the ABCUPS case study, answer the following questions:

How was the qualitative risk analysis carried out for the nine risks identified in the lecture? Would you have done it differently? Elaborate. Update the risk register.

Given all risks identified in assignment $2($i$.$e$.$ threats and opportunities$)$:

Perform a qualitative risk analysis using a $5x5$ matrix instead. Refer to the probability and impact matrix on slide $16$ or slide $18$ of the lecture. Use your own assessment.

Create another risk register and populate it on both sides.