The purpose of this activity is to identify specific risks, update the RBS, and populate the risk register.

Instructions

With reference to the 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 gases 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 business 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.