# CPMGT 302 Week 1 Risk Identification Worksheet and Paper

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CPMGT 302 Entire Course Link

https://uopcourses.com/category/cpmgt-302/

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CPMGT 302 Week 1 Risk Identification
Worksheet and PaperComplete the
University of Phoenix Material: Risk Identification Scenarios worksheet. Write a 750- to 1,050-word paper in
which you select one scenario from the University of
Phoenix Material: Risk Identification Scenarios. Describe how risk management
can mitigate the risk in the scenario. How would you document the risk? Submit the completed University of Phoenix
Material: Risk Identification Scenariosintegrated into the paper.  Submit
only one document.
Format your paper consistent with APA
guidelines.Risk Identification Scenarios Review each of the following scenarios and identify the risk events,
the probability of those risks, and the impact of the risk events. Some
scenarios may have more risks than others. Scenario One A retail firm has a project that is focused on expansion into third-world
countries to sell pharmaceutical products. The project timeline is, as always,
aggressive. The scope is well documented and understood by the project team and
key members of the firm. The firm is financially sound, with project funds
secure; however, the stakeholders expect that the project will pay for itself
within 2 years of deployment.

Risk
event

Probability
of risk event
(1=high; 3=medium; 5=low)

Impact
of risk event
(1=high; 3=medium; 5=low)

Scenario Two A construction company has been awarded the contract to build a
pipeline in Alaska. The project timeline is of the highest priority because work
can only be completed during summer months due to adverse weather conditions. One
of the suppliers of a key component has longer lead time than is required to
complete the pipeline, but may be able to deliver if the construction company
will pay fees to expedite. There are other suppliers, but these suppliers are
not on the construction company’s approved suppler list and it would take time
to get them approved. There is a huge penalty in the contract if the project is
not completed on time.

Risk
event

Probability
of risk event
(1=high; 3=medium; 5=low)

Impact
of risk event
(1=high; 3=medium; 5=low)

Scenario Three A
telecommunications company has just assigned you to be project manager for a
product improvement project. The scope statement of the project simply says,
“Make this product better.” The engineering team believes that they know how to
make the product better and have ignored ideas from the sales team. The project
funds are secure, as the company believes that improving this product will give
them strategic advantages.

Risk
event

Probability
of risk event
(1=high; 3=medium; 5=low)

Impact
of risk event
(1=high; 3=medium; 5=low)