Risk Management Criteria Project Name: Date: Project Manager: Phone/e-mail: Probability Probability Rating Occurrence Meaning Zero Will not occur There is no chance that this risk will occur Low (L) Unlikely to occur, but could 1 – 24% chance of occurrence Medium (M) May occur 25 - 49% chance of occurrence High (H) Likely to occur 50 - 74% chance of occurrence Critical (C) Most likely will occur 74 - 99% chance of occurrence Certainty (Assumption) Not a risk 100% chance of occurrence, not a risk, but an assumption. Impact Level of Impact Meaning Zero There is no impact if this risk should occur. Therefore, it is not truly a risk. Low – Little impact The impact on the project is minor but would be noticed by the customer or sponsor, and would create minor customer dissatisfaction. Medium – Some impact to the project schedule The impact to the project is moderate and would create customer and/or sponsor dissatisfaction with the project. High – Major impact to the project schedule The impact is major and would create significant customer or corporate dissatisfaction. It could jeopardize the project. Critical (Very High) – Impact to project schedule cost The impact is catastrophic and would kill the project. Priority Probability Impact Priority Low Low Low Low Medium Low Low High Medium Low Critical Medium Medium Low Low Medium Medium Medium Medium High Medium Medium Critical High High Low Low High Medium Medium High High High High Critical Critical Critical Low Low Critical Medium Medium Critical High High Critical Critical Critical Probability/Impact Risk Matrix NUMERIC SCALE Impact Probability 4 8 12 16 3 6 1 9 12 2 4 6 8 4 3 2 Critical High Medium Low Legend 1 Low Low 1 2 Medium Medium 2 3 High High 3 4 Critical Critical 4 � PAGE Page 1 of 1 TTR Project Master Risk with Owners and Alarms Number Originator Open Date Risk Description Probability Impact Respond? 1. Course developer 10/1 There are five of us set up to do the work for this project with no slack time. What happens if one of us gets sick? 3 5 Mitigate - Be ready to hire a contract course developer to work with the other course developers. See if it’s possible to find someone with graphic skills, too. Owner: Lead course developer Alarm: Any course development schedule slippage. 2. CSR supervisors 10/1 When the CSRs go through new training, there is always a spike in the time it takes to handle a customer while the new training is learned. Will this spike create customer complaints more than 2%? 4 5 Transfer - Develop an agreement with the outsourced call center for overflow calls on Mondays for 6 months. Owner: Lead CSR supervisor. 3. Reproduction facilities 10/1 We’ve been having problems with our paper supplier. We might not have enough paper on hand to create the textbooks in the time frame you want. 2 2 4. Technologists 10/1 We have seen a new training system build by XYZ technologies that handles CSR transactions at lightening speed. If you choose to.

1. Risk Management Criteria
Project Name:
Date:
Project Manager:
Phone/e-mail:
Probability
Probability Rating
Occurrence
Meaning
Zero
Will not occur
There is no chance that this risk will occur
Low (L)
Unlikely to occur, but could
1 – 24% chance of occurrence
Medium (M)
May occur
25 - 49% chance of occurrence
High (H)
Likely to occur
50 - 74% chance of occurrence
Critical (C)
Most likely will occur
74 - 99% chance of occurrence
Certainty (Assumption)
Not a risk
100% chance of occurrence, not a risk, but an assumption.
Impact
Level of Impact
Meaning
Zero
There is no impact if this risk should occur. Therefore, it is not

2. truly a risk.
Low – Little impact
The impact on the project is minor but would be noticed by the
customer or sponsor, and would create minor customer
dissatisfaction.
Medium – Some impact to the project schedule
The impact to the project is moderate and would create
customer and/or sponsor dissatisfaction with the project.
High – Major impact to the project schedule
The impact is major and would create significant customer or
corporate dissatisfaction. It could jeopardize the project.
Critical (Very High) – Impact to project schedule cost
The impact is catastrophic and would kill the project.
Priority
Probability
Impact
Priority
Low
Low
Low
Low
Medium
Low
Low
High
Medium
Low
Critical
Medium
Medium
Low
Low
Medium
Medium
Medium

3. Medium
High
Medium
Medium
Critical
High
High
Low
Low
High
Medium
Medium
High
High
High
High
Critical
Critical
Critical
Low
Low
Critical
Medium
Medium
Critical
High
High
Critical
Critical
Critical
Probability/Impact Risk Matrix
NUMERIC SCALE
Impact
Probability

4. 4
8
12
16
3
6
1
9
12
2
4
6
8
4
3
2
Critical
High
Medium
Low
Legend
1
Low
Low
1
2
Medium
Medium
2
3
High
High
3
4
Critical
Critical

5. 4
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TTR Project Master Risk with Owners and Alarms
Number
Originator
Open Date
Risk Description
Probability
Impact
Respond?
1.
Course developer
10/1
There are five of us set up to do the work for this project with
no slack time. What happens if one of us gets sick?
3
5
Mitigate - Be ready to hire a contract course developer to work
with the other course developers. See if it’s possible to find
someone with graphic skills, too.
Owner: Lead course developer
Alarm: Any course development schedule slippage.

6. 2.
CSR supervisors
10/1
When the CSRs go through new training, there is always a spike
in the time it takes to handle a customer while the new training
is learned. Will this spike create customer complaints more than
2%?
4
5
Transfer - Develop an agreement with the outsourced call center
for overflow calls on Mondays for 6 months.
Owner: Lead CSR supervisor.
3.
Reproduction facilities
10/1
We’ve been having problems with our paper supplier. We might
not have enough paper on hand to create the textbooks in the
time frame you want.
2
2
4.
Technologists
10/1
We have seen a new training system build by XYZ technologies
that handles CSR transactions at lightening speed. If you choose
to use the old system, you might not get processing that is fast
enough to keep the customer complaints below 2%.
1
5

7. 5.
Reproduction facilities
10/1
We are planning a remodeling project of our facilities during
the time you are requesting the creation of the textbooks. We
might not be able to meet the time frames you are requesting.
5
2
Avoid -Find another reproduction vendor. Be sure to test their
quality of work.
Owner: Lead course developer.
6.
Executive sponsor
10/1
Will the project be able to reduce the training time by the
amount I’ve requested? I’m basing next year’s budget on this
forecast.
1
5
7.
Course developers
10/1
We’ve been investigating a new course-development
methodology. We’d like to use it for the first time on this
project.
1
3
8.
Graphic artist
10/1
I’m pregnant and due right after the first class is scheduled.

8. 4
1
Mitigate -Hire a contract course developer with graphic skills.
Owner: Lead course developer.
9.
CSR supervisors
10/1
None of our full-time employees has expressed an interest in
being part of the pilot team.
3
2
10.
CSR supervisors
10/1
We’d like to videotape the course and be able to use it later for
refresher training for the students.
1
1
PJM 6600 Project Risk Management
Final Project
Instructions:
The Final Project must have your name, course name, date, and
it must be word

9. format.
For this project you will need to complete a risk analysis and
response plan. The
document format has been provided. You may select any project
of your choice or
make a fictitious project; you will need to identify at least 10
risks that are associated
with this project, provide responses, and rank the risk in the
order of priority. Please
make sure to follow the Risk Analysis and Response Plan that
was provided. The Risk
Analysis and Response Plan will need to be completed utilizing
the Risk Management
Criteria (see link). In addition, a sample document is provided
with typical risk
responses and descriptions. Please use them as guidance not as
your answers. Make
sure to open all links that are associated with the final project
because they will assist
you in the process.
Good luck!

10. Risk Analysis and Response Plan
ID
No.Description
Ranking
Resource
1
Risk Description: As a result of (the cause), (the risk event)
may occur which may lead to (the impact).
Cause:
Risk Event:
Impact:
Type: FORMCHECKBOX
Scope FORMCHECKBOX
Schedule
Response: FORMCHECKBOX
Avoid FORMCHECKBOX
Transfer FORMCHECKBOX
Mitigate FORMCHECKBOX
Accept
Trigger:
Response Plan:
Priority (High)
9

11. =
Probability
3
x
Impact
3
Project Team
Stakeholder
Users
2
Risk Description: As a result of (the cause), (the risk) may
occur which may lead to (the impact).
Cause:
Risk Event
Impact:
Type: FORMCHECKBOX
Scope FORMCHECKBOX
Schedule
Response: FORMCHECKBOX
Avoid FORMCHECKBOX
Transfer FORMCHECKBOX
Mitigate FORMCHECKBOX
Accept
Trigger:
Plan:
Priority (Low)
2

12. =
Probability
1
x
Impact
2
Project Team
Instructions: Double Click on the shaded part of the text, which
will bring up a dialog box for you to complete. For the check
boxes, double click on the check box and click on the
appropriate entry.
Add additional rows as necessary!
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