The Team Project Presentation

Enterprise Project Management MSPM1-GC4000

Edward Kleinert

Risk Management: Probability (P) and Impact (I) Risk Matrix

Risk Description

Impact Type

Probability Rating

Impact Rating

Priority Rating

Risk Response

Owner

Business

1 – None

1 – None

Probability x Impact

Accept

Identify and Describe Risk Response

Scope

2 – Low

2 – Little

Avoid

Technical

3 – Medium

3 – Moderate

Mitigate (P)

Schedule

4 – High

4 – Heavy

Mitigate (I)

Resources

5 – Certain

5 – Devastate

Transfer

Cost

1. Increase price on the cleaning services

Business

2 – Low

2- Little

4

Mitigate (P)

Sign a contract with specific pricing, scope and time for the task to be completed.

Project manager

2. Change on the prices for food and beverages offer to stakeholders

Business

3-Medium

2-little

6

Accept

Agree with suppliers on a price range in case prices drop or go up to be justified on both ways.

Project Manager

3.Labor strikes

Scope

3-Medium

4-Heavy

12

Mitigate(P)(I

Choose a manager and formulate a rule to strictly manage workers.

Project manager

4.Insufficient vaccine

Scope

2-low

5-Devastate

10

Mitigate(I)

Keep social distance and prepare disinfection supplies and masks.

Project manager

5. Shortage power

Technical

3-medium

5-devastate

15

Transfer

Reach out to the venue technicians on site and try to find a solution as soon as possible.

Project manager

6. Not enough gowns for graduates

Technical

2-low

4-Heavy

8

Mitigate(I)

Agree with the vendor to have more gowns on site than need in different sizes in case of an emergency

Member 1

7. Vendor delay in delivery of critical equipment

Schedule

2-Low

4-Heavy

8

Transfer

We can find multiple suppliers in advance.

Member 1

8. Inclement weather(Rain)

Schedule

3-Medium

2-Little

6

Avoid

We need to find an indoor place to hold the event.

Member 2

9.Increase in the price of decorative materials

Cost

2-Low

3-Moderate

6

Mitigate(P)

We need to sign a contract with the supplier in advance, so as to restrain the price.

Member 1

10. Flowers picked for decoration not available for event day

Resources

2- Low

3- Moderate

6

Mitigate (P)

We need to complete a work order, and the vendor compromises for this specific type of flower or product.

Member 1

Principles of Project Management

MSPM1-GC1000

Edward Kleinert

1

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