Scenario Continuation
Now that your schedule and cost baseline are established, it’s time to evaluate risks - events that could delay, disrupt, or increase the cost of your project. Identifying risks early allows the team to assign ownership, plan responses, and minimize impact.
Review the memo from the Plant Manager outlining potential project risks, and record them in a Risk Register.
Tip: While the Risk Register is your working tool, you may also choose to create a Risk Matrix to visually communicate priorities in your Final Presentation.
Objective
Build a Risk Register to capture and prioritize the risks facing your project. Specifically, you will:
- Identify risks using the information provided in stakeholder memos, and add any others you consider important
- Describe the potential impact if each risk is not addressed
- Assign a probability and impact score, and calculate the priority level
- Propose mitigation strategies for each risk
- Assign an owner to each risk - the person or role best positioned to manage it
- (Bonus) Apply conditional formatting to the “Priority Level” column so risks are automatically highlighted by severity