Question

Project Risk Response

Risk responses and action steps are defined during the risk response planning phase. Here the project team must plan the actions that will be taken should any identified risk actually materialize. This is typically done for some subset of the total population of risk issues identified—most likely those that are of the highest probability and/or impact. Risks can be both negative (threats) and positive (opportunities). The possible strategies for responding to negative risks include the following: avoid, transfer, mitigate, and accept. The possible strategies for responding to positive risks include the following: exploit, enhance, share, and accept.

QUESTION

Based on the below risk register regarding the Pepsi Refresh Program

Document the risk triggers in the project risk register in Column G.

Document risk response strategies (plans) for each risk in the project risk register in Columns L–M. The risk response strategies should be derived from the eight strategies of; responding to negative risks include the following: avoid, transfer, mitigate, and accept. The possible strategies for responding to positive risks include the following: exploit, enhance, share, and accept.

***Please Use The Scroll Bar To See Columns L-M*****

A

B

C

D

E

F

G

H

I

J

K

L

M

Risk No.

Risk Name

Risk Event Description

Risk Impact Description

Risk Type

Risk Source

Risk Trigger

Impact Score 1 to 5

Prob. Score 1 to 5

Risk Factor P*I

EMV*

Response Type

Response

5

Participants being treated fairly

Organizations participating in project feeling that votes are not properly/fairly being collected

Being accused can cause claims fraud out of the contest

Compliance

Reputation

0.8

2

1.6

6

Project testing produce unsatisfied results

The board is not satisfied with the results after analyzing data from the 1-year pilot

The board decides to put a halt to the program

Strategic

Project Success

0.3

5

1.5

7

Participant Behavior

There is unwanted or inappropriate behavior on website that brings negative views about the project cause

Resulting in negative influences on potential grantees and/or interested voters to support the cause

Reputation

Environment

0.3

4

1.2

8

Insufficient Resources for traditional marketing

Printing advertisements can be very costly

Resulting in not having enough people to distribute this type of advertisement

Financial

Staffing

0.6

2

1.2

9

Scattered results

The program Supports numerous organizations across various issues/geographies so ideas are all over the place.

Makes it hard to concentrate on an impact of a specific issue

Strategic

Project Success/Reputation

0.3

2

0.6

Answer 1