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
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
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
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
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more