ou have recently gained your APM Risk qualification and have been asked to join the University’s project team on a consultancy basis to help implement a robust risk management process on the project. Section A Questions a) List 5 Stakeholders in the project b) State the main objectives and success criteria for the project.
Page 3 of 5
You have recently gained your APM Risk qualification and have been asked to join the
University’s project team on a consultancy basis to help implement a robust risk
management process on the project.
Section A Questions
a) List 5 Stakeholders in the project
b) State the main objectives and success criteria for the project.
c) Prepare a draft risk management plan, completing all relevant sections with information
obtained from the case study. Marks will be awarded according to the following scheme:
i.
Introduction
ii.
Project Description
iii.
Purpose and Scope of Risk Management
iv.
Risk Management Organisation
v.
Risk Management Process
vi.
Key deliverables
d) State 5 risks that may occur on this project. Ensure that risks are stated using the format
cause – risk event – effect.
e) For 2 (two) of the stated risks
State who (in your opinion) the potential owner would be
Explain (again in your opinion) what could be done to respond to the risk
State (in your opinion) what would be the most significant secondary risk.
Explain (again in your opinion) what could be done to respond to any potential
secondary risk(s)
f) Explain why the derivation of project specific scales would be an important part of the
qualitative risk assessment phase and derive an appropriate scale for probability and
impact. Ensure that you justify each element of the scale.
g) Explain why it is important for a risk management process to cover both threat and
opportunity. Make sure that you justify your reasons
Section B questions (Use the case study to answer the following questions)
a) Explain, by means of specific examples, how the management of 2 negative risk events
could help to optimize achievement of project objectives. The marks will be awarded
in the following way:
Selection of a relevant negative risk and summarizing what it is or means e.g.
its relevance in the context of the question
Clarify/demonstrate further comprehension of the influence of risk event
management on project risk.
Justify as to how the management of the negative risk will influence the
achievement of project objectives.
b) Explain, by means of specific examples, how the management of 2 positive risk events
could help to optimize achievement of project objectives. The marks will be awarded
in the following way:
Selection of a relevant positive risk and summarizing what it is or means e.g. its
relevance in the context of the question
Clarify/demonstrate further comprehension of the influence of risk event
managem.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
