Part B: Risk Analysis (8 marks)
In this part students develop a risk assessment analysis in which they use both qualitative and
quantitative measures to identify potential risks in the project and determine how they should be
weighted.
The risk analysis should draw upon principles outlined in the Project Management Body of
Knowledge (PMBOK) and material discussed in class in weeks 1 -5.
Students would be expected to produce a risk matrix where the likelihood of potential risks events
are mapped against their possible consequences. Other risk assessment and analysis activities
might focus on a range of financial measures associated with the project.
Required word count is 500-600 words.
Part C: Risk Mitigation Plan (10 marks)
In this part students will use the information collected and analysed in the previous two parts to
develop a risk mitigation plan and strategy. Based on information identified in the risk analysis
students will be expected to develop a plan for how they deal with the various identified risks. The
mitigation plan should outline which risks need to be address and in what order. The plan should
also identify and potential risks that they believe do not require attention.
The plan should then explain how risks might be addressed and by what means. Where possible
places should include the reference to time and resource (costs) implications. Students need to take
into account commercial considerations when constructing the plan and identify whether the plan is
cost effective or has any implementation issues. (10 marks)
Required word count is 500-700 words.