1.1 Identify a list of five project risks that could take place during your project 1.2 List and describe the project risks as outlined in the Learner Guide
1.3 Use the table and learning note space provided below
1.4 Transfer these risks to a table on a flip chart and prepare to present your team's risks
2. Break into learning teams. Study the list of project risks you compiled during the previous team activity
2.1 Assess each risk by using the likelihood and impact matrix above
2.2 Prioritise the list of risks as outlined in the table above
2.3 Use the table and learning note space provided below
2.4 Transfer these risks to a table on a flip chart and prepare to preset your team's prioritised risks
3. Study the list of prioritised project risks you compiled during the previous team activity
3.1 Develop a risk response plan for the risks
3.2Use the table and learning note space provided below
3.3 Transfer the plan to a table on a flip chart and prepare to preset your team's prioritised risks
4. Break-away into learning teams
4.1. Develop a budget for your project
4.2. Learning teams will present their work
1. List of five project risks:
- Budget constraints
- Stakeholder resistance
- Scope creep
- Resource unavailability
- Technology failure
2. Description of project risks as outlined in the Learner Guide:
- Budget constraints: Unexpected costs or limited funding could impact the project's ability to be completed on time and within budget.
- Stakeholder resistance: Opposition from key stakeholders could lead to delays or changes in project direction.
- Scope creep: Changes or additions to the project scope without proper approval could result in timeline and budget overruns.
- Resource unavailability: Key team members or resources may not be available when needed, causing delays in project progress.
- Technology failure: Malfunctions or issues with technology systems could disrupt project operations and timelines.
3. Likelihood and impact matrix:
Risks | Likelihood | Impact | Rating
-----------------------------------------------------
Budget constraints | High | High | High
Stakeholder resistance | Medium | High | High
Scope creep | High | High | High
Resource unavailability | Medium | Medium | Medium
Technology failure | Low | High | Medium
4. Prioritised list of risks:
1. Stakeholder resistance
2. Budget constraints
3. Scope creep
4. Resource unavailability
5. Technology failure
5. Risk response plan:
- Stakeholder resistance: Engage stakeholders early and often, communicate effectively, and address concerns proactively.
- Budget constraints: Monitor expenses closely, identify cost-saving opportunities, and seek additional funding if necessary.
- Scope creep: Implement strict change control procedures, communicate changes to all stakeholders, and regularly review project scope.
- Resource unavailability: Cross-train team members, utilize backup resources, and create contingency plans for key roles.
- Technology failure: Conduct regular system checks and maintenance, have a backup plan in place, and invest in reliable technology solutions.