Q1:A risk probability or consequence is often described as being, low, medium or high. The probability and impact of risks can be charted by a project manager on a probability/impact matrix or chart. Using a project that you are familiar with, record at least ten (10) risks on a probability/impact matrix. Thereafter, provide a reason for recording each risk in the quadrant that you have chosen.

Q2:Refer to the strategies to deal with negative project risks. Identify a project of your choice and deliberate on the negative risks identified. Analyse and critically discuss the strategies to deal with the negative risks that you have identified.

Q3:Positive project risks usually enhance the achievement of project objectives. Chose a project and identify at least five (5) positive project risks. Apply the three (3) strategies to deal with these identified positive project risks.

Q4:During the project plan risk response stage project risks are assessed. Identify a project that you are familiar with and assess the identified risks. Record at least ten (10) of these risks on a risk response planning table. Thereafter, critically discuss the risk response plan for each recorded risk.