Project Risk Management (Spring 2021)

Group Assignment 1 Developing Impact scale for Risks (Negative/Positive)

Task:

1. Identify a Project that one or more group members are familiar with

2. Specify the Duration / Budget of the Project

3. Describe the purpose/need of the Project

4. Use the Impact Tables to set thresholds for variations in each of the four project objectives (Scope=Work/Deliverables, Time=Schedule, Cost, and Quality=Fitness for purpose).

Complete this assignment during the class and submit this form.

A. Project Title:

B. Project Duration:

C. Project Budget:

D. Project Purpose/Need:

E. Team Members: (SAPID/NAME of each member):

Definition of Impact Scales for Four Project Objectives (Negative)

Defined Conditions for Impact Scales of a Risk on Major Project Objectives (Negative Impacts)
Project Objective	Relative or numerical scales are shown
	Very low /0.05	Low /0.10	Moderate /0.20	High /0.40	Very high /0.80
Cost
Time
Scope
Quality
This table presents risk impact definitions for four different project objectives. They are tailored in the Risk Management Planning process to the current project and to the organization's risk thresholds

Definition of Impact Scales for Four Project Objectives (Positive)

Defined Conditions for Impact Scales of a Risk on Major Project Objectives (Opportunity Impacts)
Project Objective	Relative or numerical scales are shown
	Very low /0.05	Low /0.10	Moderate /0.20	High /0.40	Very high /0.80
Cost
Time
Scope
Quality
This table presents risk impact definitions for four different project objectives. They are tailored in the Risk Management Planning process to the current project and to the organization's risk thresholds