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CPMGT 302 Week 1 Individual
Assignment Risk Identification
Scenarios
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Review each of the following scenarios and identify the risk events, the
probability of those risks, and the impact of the risk events. Some
scenarios may have more risks than others.
Scenario One
A retail firm has a project that is focused on expansion into thirdworld countries to sell pharmaceutical products. The project timeline
is, as always, aggressive. The scope is well documented and understood
by the project team and key members of the firm. The firm is
financially sound, with project funds secure; however, the
stakeholders expect that the project will pay for itself within 2 years of
deployment.
Scenario Two
A construction company has been awarded the contract to build a
pipeline in Alaska. The project timeline is of the highest priority
because work can only be completed during summer months due to
adverse weather conditions. One of the suppliers of a key component
has longer lead time than is required to complete the pipeline, but may
be able to deliver if the construction company will pay fees to expedite.
There are other suppliers, but these suppliers are not on the
construction company’s approved suppler list and it would take time to
get them approved. There is a huge penalty in the contract if the
project is not completed on time.
Scenario Three
A telecommunications company has just assigned you to be project
manager for a product improvement project. The scope statement of