The assignment is an exercise that takes you through Qualitative Risk Analysis by applying structured approach to Project Management and the principles learned in this course to a practical situation. The main goal is to help you practice some of the project management skills you are developing as part of this course.

Instructions-

Develop and submit a Qualitative Risk Analysis for the 8 risks and 2 opportunities you identified in the Risk Register for the manufacture of a new product. (10 Marks) ?Use only templates provided on Nexus

You have been tasked to obtain a stable source of Lithium for your company within 224 days. The budget for obtaining the required material has been set at $400,000 CAD. Using the Risk Register template provided on Nexus and complete the following: ?Risk Identification of 10 risks using Cause-Risk-Effect format (8 negative & 2 positive risk) ?Risk Probability ?Risk Impact ?Risk Score ?Risk Zone ?Instruction Sheet

Mail - Nishtha Dhamija - Outlo x D21 Risk Register Template - Risk M X M Inbox (551) - nishthadkathuria x DZI D2L Login Page X C In 2000, Ellen Smith Became A X + X > C A nexus.uwinnipeg.ca/d21/le/content/42022/viewContent/1137001/View 1 of 4 - + Automatic Zoom v View as Text Download D > > How to use the Risk Register? All Project Managers at States Risk Mo. Enter the me Risk Menti Teantion Risk Description Provide a detall Risk Category Select the E Trigger Risk Probability rifled in the Probability Legrad Risk Import net Legend Risk Score rell level of risk Risk Zone Categorbat Primary Risk Impart Area in or Coarian! if the rich is moyatlos or positive. The following fields need to be started when ries are identifie the project and upland on a regular bush Risk Strategy re, Share, Enhance, or Explain) Risk Treatment Secondary Risk a specific rick strong Risk Response Risk Owner managing the risk tospoons fif the risk corn Last Updated Enter the date that the Information for this specific risk was last updated. RBS Refer to the Risk Break down Structure lab (RBS) and Risk Threshold Area Threshold Quality Materials and works must comply with government and that's quality standards Cost The project budget must not be below or exceed $16 of the approved budget Schedule The event must be completed by October 30, 2019. Risk Probability Legend Risk Value Category Probability Description Probe Mility Very Unlikely he probability of occurrence in almost mara, but it could happen. 2 Unlikely The probability of occurrence is slim and small, but it may. Based on precedence, risk has projects, although. It has less than 50%% chance chappening snow what Likely Likely lak often occurs in similar projects and has a 50% chance of happening link almost always cecurs on similar projectand will almostcertainly. ery LikelyMail - Nishtha Dhamija - Outlo x D21 Risk Register Template - Risk M X M Inbox (551) - nishthadkathuria x DZI D2L Login Page X C In 2000, Ellen Smith Became A X + X > C A nexus.uwinnipeg.ca/d21/le/content/42022/viewContent/1137001/View 2 of 4 -+ Automatic Zoom v View as Text Download D > > Very Low viewed occasionally. Low set. No In eqpind but an action plan should be actively considered. Sta The consequences of his rik materializing would have a moderate Impact on project schedules, quality or cost Moderat ome Immediate section might be required to address rak impact plus the development of an action plan. Sauter almond regularly. High The consequence of this risk materializing would be severe but not dhinitrous. Some diane nation is required to mitigate the risk, plus the development of a comprehensive action plan This is above the defined tolerance level. The consequences of the rick materializing would have a disastrous Very High impact on project schedules, timeline, cost, quality and companies reputation & business continuity amprobensive action is required immediately to mitigate the risk. Risk Rating/Score: VL(S) 10 15 10 LI4 12 16 30 12 15 Probability U(2) 10 VLIn 1(2) H(4) Impact Risk Hating Scales Probability & Impact Score Management of this risk is not material to the success of the final deliverables Le, e Low 1 to 5 Improving the risk mitigation is not required Periodic reporting to the Sponsor Can be managed by routine controls and procedures. Management of this risk is important to the success of the deliverables completition of the project, Suicid and sen Moderate 6 m 10 ng the risk mitigation a not required at Si stage Periodic reporting to the Sponsor Management control and responsibility must be specified Management of this risk is very important but not critical to the High 12 to 16 The Sponsor must be Informed Improving the risk mitigation (If possible] is recommended The whole project team's attention and action needed gement of this risk i critical to the success of the deliverable, co Very High 20-25 Requires detailed research, planning and decision making at menine levels of maine The Sponsor Is engaged In miny Improving beMail - Nishtha Dhamija - Outlo x D21 Risk Register Template - Risk M X M Inbox (551) - nishthadkathuria x DZI D2L Login Page X C In 2000, Ellen Smith Became A X + X > C A nexus.uwinnipeg.ca/d21/le/content/42022/viewContent/1137001/View 3 of 4 - + Automatic Zoom v View as Text Download D > > Management of this risk is very In High 12 to 16 The Sponsor must be Informed Improving the risk mitigation (If possible] i mecome The whole project team's attention and action needed. Management of this risk is critical to the success of the deliverable, comple tirion of the project. financed and non-financed goals Very High 20.25 Requires detailed research, planning and decision making at monie levels of management The Sponsor Is engaged In mingation strategy ming be risk mitigation is required Risk Response Strategies Avoid Risk or risk cause should be eliminated or evaded and as best as possible to find a less impactful alternate Accept threats or opportunities Tremater Transfer threats (deflect, allocate) by shining Share Responsibility for the risk is given in part to a third Enhance king ofhey drivers to Exploit Acting to ensure that the risk der