Select any project from your current work environment $($or previous work environment$)$ that is

suitable for the application of the risk management concepts covered during this course. Prepare a

Word document of $6-8$ typed pages and save as pdf before submission $($use a $12$pt font and single

spacing$).$ Any diagrams or charts should be posted in the document and submit one document only.

Section A $(60$ points$)$

$1.$ Provide a scope statement, one$-$page work breakdown structure and a one$-$ page Gantt chart

schedule for the project selected. $(10)$

$2.$ Identify $12-15$ risk events that could affect the objectives or outcomes of the project. A

balanced set of risks should be selected e$.$g$.,$ technical, safety, people, and program risks.

Provide a clear description of each risk event. Show the list of risks as numbered bullets or

table. $(15)$

$3.$ Perform a semi$-$quantitative risk analysis, also providing an explanation of the scales used. A

full quantitative analysis $(0<$ P $<1)$ can be used as an alternative. $(5)$

$4.$ Plot the risks on a suitable risk map$/$chart and draw an appropriate threshold line that

separates the risks in an $80$:$20($approximately$)$ ratio. $(15)$

$5.$ Name the risk events you would select as the critical risks $($give the numbers of the critical

risks as in question $2$ above$).(5)$

$6.$ Write response$($s$)$ or controls for the critical risks. Each response should be described using the

words avoid, reduce, redundancy, transfer, etc., and an explanation of what will be done.

$(10).$

Section B $(10$ points$)$

$7.$ A $7-$point risk analysis produced the following $20$ risk values: $10$; $49$; $1$; $28$; $5$; $8$; $9$; $36$; $20$; $2$; $4$;

$2$; $6$; $1$; $3$; $1$; $7$; $10$; $1$; $5.$ Using the Pareto prioritisation method, determine the critical risks for

this data. Show the calculations. $(6)$

$8.$ Determine the risk leverage factor for the following $4$ cases and indicate if the control will be

financially viable. $(4)$

Risk

No

P$-$original

estimate

Total loss original

estimate $($R$)$

P$-$after

control

Total loss after

control $($R$)$

Cost of

control

A $0,885000,485002200$

B $0,678000,643004300$

C $0,546000,246002500$

D $0,972000,928003100$