Use the identified following five cost risks , and do the qualitative analysis of risk using the risk matrix shown below? 1. Scope Creep 2. Uncertain Market Conditions 3- Inadequate Risk Assessment 4. Poorly Defined Project Requirements 5. Unforeseen Site Conditions
Use the identified following five cost risks , and do the qualitative analysis of risk using the risk matrix shown below? 1. Scope Creep 2. Uncertain Market Conditions 3- Inadequate Risk Assessment 4. Poorly Defined Project Requirements 5. Unforeseen Site Conditions
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
Question
Use the identified following five cost risks , and do the qualitative analysis of risk using the risk matrix shown below?
1. Scope Creep
2. Uncertain Market Conditions
3- Inadequate Risk Assessment
4. Poorly Defined Project Requirements
5. Unforeseen Site Conditions
![46
5
4
3
2
1
RISK ASSESSMENT - QUALITATIVE ANALYSIS
Risk Score = Probability Impacts
5
4
3
2
1
Probability
Very Likely >75% Chance
51-75% Chance
26-50% Chance
10-25% Chance
Unlikely <10% Chance
×
Impact
Severe Impact - Redesign Major Components, > 2 Mon. Slip
Some Impact - Redesign Minor Components, 1-2 Mon. Slip
Some Impact - Min. redesign, 2-4 Wk. Slip
Some Impact - Min. redesign, 0-2 Wk. Slip
Minimal - No redesign or Schedule Impact
Standard criteria should be part of the business risk management procedure
Probability
5
4
Risk Score:
5
10
4
3
2
1
1
8
6
4
2
2
15
12
9
6
3
3
Impact
20
16
12
8
4
4
25
20
15
10
5
5](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F579cfcbf-9349-4b91-87d7-5bb957231d8b%2Feb39a7d8-92fa-4e43-a79d-9575294611c9%2Fzwui8ja_processed.jpeg&w=3840&q=75)
Transcribed Image Text:46
5
4
3
2
1
RISK ASSESSMENT - QUALITATIVE ANALYSIS
Risk Score = Probability Impacts
5
4
3
2
1
Probability
Very Likely >75% Chance
51-75% Chance
26-50% Chance
10-25% Chance
Unlikely <10% Chance
×
Impact
Severe Impact - Redesign Major Components, > 2 Mon. Slip
Some Impact - Redesign Minor Components, 1-2 Mon. Slip
Some Impact - Min. redesign, 2-4 Wk. Slip
Some Impact - Min. redesign, 0-2 Wk. Slip
Minimal - No redesign or Schedule Impact
Standard criteria should be part of the business risk management procedure
Probability
5
4
Risk Score:
5
10
4
3
2
1
1
8
6
4
2
2
15
12
9
6
3
3
Impact
20
16
12
8
4
4
25
20
15
10
5
5
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