Risk Management Tools

Group Portion

As a group, you are to describe a project that all of you will participate in, and include the following:

• Define the goal of the project -To cook a fried chicken dinner(2 pages)
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• Individual Portion
• Each group member is to come up with 2 risks to this project. Each risk must include the following elements:
  • What technique(s) was used to identify the risk?
  • What type of risk is it, and does it have specific IT elements and considerations?
  • How was the risk assessed, and how does it rank with all of the risks identified by the group?
  • Is the risk qualitative or quantitative, and does it work with an EMV or Pareto analysis with all of the risks identified by the group?
  • What is the response to this risk, assuming it occurs during the project’s lifecycle?
  • Provide at least 2 contingency plans for this risk (one primary and a second backup).