Purchase Solution

Paper Describing Benefits of a Risk Assessment Matrix

Not what you're looking for?

Ask Custom Question

Develop a risk assessment matrix for a ficticious project (on something simple). Write a paper describing the benefits of this matrix.

Purchase this Solution

Solution Summary

This solution provides a tutorial on creating a risk assessment matrix and analyzing the benefits of the matrix.

Solution Preview

** Please see the attached file for the complete solution response **

Projects face risks at every phase of the project life cycle. A project risk matrix analyzes risks and rates a risk's probability against its impact. One way to assess risks and their effects on the project is to rate the risks as Very High, High, Medium, Low, etc. Risks with high-probability and high-impact require more attention and the risk assessment tool is beneficial in trying to reduce these risks.

Project Summary
XYZ Pub is opening in June 2011. Four partners own the pub and each invests in the pub equally. However, only one owner will actively manage the pub and its eight staff members. The pub has a separate room with a dance floor for live-music events.

Risk Assessment Matrix
The risk assessment matrix addresses only risks associated with liquid sales at the XYZ Pub. The owners identified six risks.
(please see the ...

Purchase this Solution


Free BrainMass Quizzes
Employee Orientation

Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.

Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.

Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.

Business Processes

This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.

Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.