Risk Register ExerciseThis week's exercise will be to create a Risk Register for the Week 2 Business Case that you have utilized throughout the semester. Additional instructions are in the Word template.You will complete the attached Risk Register in Excel. A risk needs to be identified for each of your six (6) Key Deliverables (this would be listed under the Deliverable column). This needs to be a thorough, well thought out risk register which provides detailed thought and consideration. An example of the Risk Register is available in Exhibit 11.9 on page 370 of the textbook.The following is a description of what should go under each column.Risk Description: Identify the Risk associated with the Deliverable.Impact Statement: This is a narrative of potential impact if the risk should occur. This statement should justify scores provided in Impact and Probability columns.
Deliverable: This will be the associated Deliverable. Identify one risk for each of your six (6) deliverables.
Probability: This is a score of 1-5. A score of 1 would be if the probability of the risk occurring is very slight and a score of 5 is that it will almost likely occur.
Impact: This is a score of 1-5. A score of 1 would be the impact would have little impact if the risk occurs and a score of 5 would be catastrophic impact if risk event occurs.
Score: This is the Probability multiplied by the Impact.
Response Strategy/Solution: This should be a detailed plan on how to either limit the Probability of the risk event from occurring and/or a plan to reduce the Impact if it does occur. This must include direct correlation to the scores assigned to Probability/Impact. At least one risk response strategy needs to be identified for each.