Chapter 7: Project Risk Identification Tools

Assigned Readings:

Chapter 7: Project Risk Identification Tools

Chapter 8: Project Risk Analysis and Identification

Initial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.

Also, provide a graduate-level response to each of the following questions:

1. Explain each of the following steps in risk evaluation and remediation.
   • Risk identification
   • Risk evaluation for chance of occurrence
   • Risk evaluation for impact if the risk takes place.
   • The four types of risk remediation,
   • What is a project risk owner,
   • What is a risk threshold.
   • What is a risk matrix.

2. Complete a risk analysis for a project involving a family vacation where a family of four is driving 1,000 miles one way to Myrtle Beach, SC to stay for one week at a coastal resort. Include the construction of a risk matrix.