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  • Richards Unit 8 Risk Tables

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    Review the Gauchito Project Plan Make a list of at least ten risk events to this project. Using the matrix in figure 11-5 of your PMBOK Guide, page 281, examine each risk event separately based on the project objectives and try to place it in the appropriate grid cell in the Probability and Impact matrix from figure 11-10 on page 292 of your PMBOK Guide. Determine what sources of risk and which risk events may be expected to affect your project. Quantify the risks identified to determine which risk events require a response. In doing so, according to figure 11-5, consider:  Impact to the project's expected monetary value  What is the impact to quality  That is the impact to the schedule Prepare an executive summary of your finding, not to exceed 500 words

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    Review the Gauchito Project Plan Make a list of at least ten risk events to this project. Using the matrix in figure 11-5 of your PMBOK Guide, page 281, examine each risk event separately based on the project objectives and try to place it in the appropriate grid cell in the Probability and Impact matrix from figure 11-10 on page 292 of your PMBOK Guide. Determine what sources of risk and which risk events may be expected to affect your project. Quantify the risks identified to determine which risk events require a response. In doing so, according to figure 11-5, consider:  Impact to the project's expected monetary value  What is the impact to quality  That is the impact to the schedule Prepare an executive summary of your finding, not to exceed 500 words

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
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    390 views7 pages

    Richards Unit 8 Risk Tables

    Uploaded by

    arichards4
    Review the Gauchito Project Plan Make a list of at least ten risk events to this project. Using the matrix in figure 11-5 of your PMBOK Guide, page 281, examine each risk event separately based on the project objectives and try to place it in the appropriate grid cell in the Probability and Impact matrix from figure 11-10 on page 292 of your PMBOK Guide. Determine what sources of risk and which risk events may be expected to affect your project. Quantify the risks identified to determine which risk events require a response. In doing so, according to figure 11-5, consider:  Impact to the project's expected monetary value  What is the impact to quality  That is the impact to the schedule Prepare an executive summary of your finding, not to exceed 500 words

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 7

    Defined Conditions for Impact Scales of a Risk on Gauchito Project Tasks

    Project
    Very Low / .05 Low / .10 Moderate / .20
    Objective

    Insignificant cost
    Cost ( C ) < 10% cost increase 10-20% cost increase
    increase

    Insignificant time
    Time ( T ) < 5% time increase 5-10% time increase
    increase

    Quality reduction
    Quality degradation Only very demanding requires sponsor
    Quality ( Q ) barely noticeable applications are affected approval

    Task of Risk Very Low / .05 Low / .10 Moderate / .20

    Glue

    Parachute
    fails to open

    Improper
    Sanding C= .05 Q= .10 T= .20
    Improper
    Decal C= .10 T= .20, Q= .20
    placement

    Delayed
    delivery of
    T= .20, Q= .20
    materials and
    equipment

    Key
    personnel C= .05 Q= .10 T= .20
    unavailable

    Propellent
    C= .05 T= .10, Q= .10
    fails to light
    Materials
    C= .05 Q= .10 T= .20
    shortages

    Damage to
    original parts
    Q= .05 T= .10
    provided in
    kit

    Weather T= .10, Q= .10

    Probability and Impact

    0.90 0.05 0.09 0.18

    0.70 0.04 0.07 0.14

    0.50 0.03 0.05 0.10

    0.06
    Task 3 (0.11)
    0.30 0.02 0.03 Task 7
    (0.05)
    Task 8 (0.04)

    0.01 0.01
    0.10 0.02
    Task 10 (0.001) Task 9 (0.02)

    0.05 0.10 0.20


    f a Risk on Gauchito Project Tasks

    High / .40 Very High / .80

    20-40% cost increase > 40% cost increase

    10-20% time increase > 20% time increase

    Quality reduction Project end item is


    unacceptable to sponsor effectively useless

    High / .40 Very High / .80 Priority Type of Action/or Cause of Risk

    T= .80 1 Bad Glue, replace glue

    Check packing of
    C= .80, T= .80, Q= .80 2
    parachute

    Have QA check progress


    3
    before task is advanced

    Keep Decals with


    individual steps to
    4
    alleviate risk of following
    steps out of order

    Make delivery a
    5 requirement in supplier
    contract

    Insure contractors are


    6
    available if necessary

    Replace engine if fails (4


    7
    in pack so no extra cost)
    Contract with current
    supplier, and Idnetify
    8
    alternate suppliers if
    needed

    Insurance and Liability


    9
    Waiver

    Change schedule if
    10
    necessary

    Probability and Impact Matrix

    0.36 0.72 0.72 0.36

    0.28 0.56 0.56 0.28

    0.40
    0.20 0.40 0.20
    Task 1 (0.40)

    0.12 0.24 0.24 0.12


    Task 4 (0.10) Task 2 (0.12)

    0.04
    Task 5 (0.08) 0.08 0.08 0.04
    Task 6 (0.07)

    0.40 0.80 0.80 0.40


    r Cause of Risk
    0.18 0.09 0.05 Task Lists

    0.14 0.07 0.04 1. Bad Glue

    2. Possible packing of
    0.10 0.05 0.03
    parachute too tight

    3. Uneven sanding
    0.06 0.03 0.02 causes improper paint
    adherence

    4. Decal could have been


    0.02 0.01 0.01
    applied to wrong step

    5. Make delivery a
    0.20 0.10 0.05 requirement in supplier
    contract

    6. Insure contractors are


    available if necessary
    7. Contacts may not be
    in engine far enough.
    Engines come in 4 pack

    8. Contract with current


    supplier, and Idnetify
    alternate suppliers if
    needed

    9. Insurance and Liability


    Waiver

    10. Change Schedule if


    necessary

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