Evaluating Various Risk Response Strategies

Evaluating Various Risk Response Strategies

Introduction

Using the readings and other materials this week please focus on creating an essay from research. This assignment allows students the opportunity to use research and analysis skills to answer the questions for this week’s critical thinking assignment.

Unit Learning Outcomes

Evaluate various risk response strategies on projects.

Examine various project threats and opportunities to gain an understanding of how risk impacts the various aspects of project management.

Analyze the components of project risk and the importance of understanding overall risk on a project.

Compare the various risk categories as well as residual and secondary risks.

Distinguish the various inputs to the risk management plan and understand how they impact risk.

Determine when to use a risk audit.

Directions

Write a 350–500-word essay after reviewing all of the material from this week regarding the major components of risk management. Ensure all of the following questions are answered with this week’s assignment:

What are the inputs to the risk management plan? Why are they important?

Who is a risk owner?

What are residual risks? Secondary risks?

What are the various risk categories?

When would you use a risk audit?

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