Based on the potential risks of your project, create a table outlining the risk description, probability, and severity for each risk.

Risk description, probability, and severity

  1. Conduct a risk analysis. Based on the potential risks of your project, create a table outlining the risk description, probability, and severity for each risk. Also briefly note the contingency or action plan.
  2. In addition to your table, submit a summary to discuss the results of your risk analysis.
    1. Discuss the interpretation of the results
      1. Discuss the top three risks, based on the rank (multiply the probability by the severity)
    2. Discuss the contingency and action plans

 

 

Risk Description Probability (1 to 3) Severity (1 to 3) Contingency/Action Plan
       
       
       
       

 

 

Probability: Likelihood that risk will occur

1 point – Low probability

2 points – Medium probability

3 points – High probability

 

Severity: Criticality of risk; impact to project

1 point – Low severity

2 points – Medium severity

3 points – High severity

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