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Project Management Case Study on Risk Assessment Tools

Risk is an important part of any project.

It is imperative that a comprehensive risk assessment is completed throughout the life of the project.
This week as you work on the progressive case study you will develop and assess a risk assessment tool, that you will use to review and assess the case study project .

It is strongly recommended that you go back through the resources provided in this class as well as the use of external and supplemental materials that you have found in your research. Please determine if your version of an effective risk assessment tool can adequately assess risk throughout this project. It would be beneficial to provide a risk assessment matrix.

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**Please see attached image of a risk assessment grid tool **

Risk assessment tools provide a visual aspect to projects, in order, to communicate the potential of unproductive output, if any, relating to the project. Therefore, the focus is on tools that identify potential risks, the source of the risk, the level of damage or delays leading to an uncompleted project and the most important are the cost associated with the risk. In design, the risk tool offers a project manager in developing ways to chart, measure, and adapt to changes that needs revaluation, in order, to meeting the designated outcome. Challenges can ensure when if the proper risk assessment is missed before projects start for corporations, in which, the project manager struggles in adapting to newer strategies.

Consider, the primary project scope objective in assuring the project continues on schedule without any setbacks that relate towards costing more. The analysis indicates that the potential for hiring more staff employees within a given period of time can suffice to making sure the risk assessment tool dictates such an occurrence. Try and evaluate the core project scope objectives in relations ...

Solution Summary

This solution provides a review into creating risk assessment tools and the process of assessing identified risks.

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