Introduction to project management/IPM103/Risk/Tasks Risk

Learning Challenge Tasks

Every project has factors that may or may not impact on its success. Planning for these risks can stop them having an impact on your project, reduce the impact, or help you have a plan ready for when the unavoidable happens.

Complete the tasks listed below:

1. Create a risk register for your project
   • Identify at least 3 risks that could impact on or enhance your project.
   • Include a contingency amount for at least 2 of these risks.
   • Ensure you update your project budget with the contingency amount.

Marking Rubric

Use the rubric below to work out if you have done a good job of this. This is the same rubric that will be used to mark your work if you choose to be formally assessed.

Criteria	Marks
At least three risks that could impact on the project are identified. Ways to minimise the impact of each risk are described. Contingency plans are in place for each risk. The estimated cost of the contingency plan is described.	4-5
At least three risks that could impact on the project are identified. Ways to minimise the impact of most risks are described. Contingency plans are in place for some risks. The estimated cost of the contingency plan is described for some risks.	2-3
Less than three risks are identified. Their impact may not be clear. There is a lack of strategies to manage the risk through minimisation or contingency planning. It is not clear how much any contingency plans would cost.	0-1