Question
RAM Matrix and Risk Mitigation An infrastructure development project has the following risk factors. Risk Factor, DESCRIPTION, Likelihood rating, Impact Rating A Insufficient supply of
RAM Matrix and Risk Mitigation An infrastructure development project has the following risk factors. Risk Factor, DESCRIPTION, Likelihood rating, Impact Rating A Insufficient supply of raw materials. 4, 4 B Worker injuries. 3, 3 C Extended project duration, 5, 4 D. Community disapproval of the 4, 5 project due to Resettlement issues E Water leakage, 2, 4 F. Equipment malfunction. 1, 5 LIKELIHOOD Ratings: (1) Rare, (2) Unlikely, (3) Possible, (4) Likely, (5) Almost Certain. IMPACT Ratings: (1) Insignificant, (2) Low, (3) Moderate, (4) High, (5) Catastrophic/Failure. Based on the above risk analysis:
Draw the RAM Matrix. Identify critical risk factors, moderate risk factors, and low-risk factors. For each risk factor, provide a short paragraph for Risk Mitigation to minimize the risk associated with this factor.
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