Risk is inherent to every project. Some risks are more likely to occur than others, and some will have a greater impact to the project if realized. Although you cannot account for every risk, a thorough risk analysis and assessment can help minimize the liabilities of the project and ensure that your projects are successful.

Refer to either Case 7.1 Alaska Fly-Fishing Expedition, 7.2 Silver Fiddle Construction, 7.3 Trans LAN Project, and 7.4 XSU Spring Concert of your text. Each of these cases presents you with a project scope statement for a fictional project. You are to pick 1 of these cases on which to perform a risk analysis. After picking a case of your choice, you should address the following:

Summarize the project. Discuss how the risk management process will be applied. Identify potential risks associated with this project (you must come up with at least 5 different risks). Use a risk assessment form to analyze identified risks. Develop a risk response matrix to outline how you would deal with each of the risks. In conducting the risk assessment and developing the risk response matrix, you can either develop the risk assessment form and the risk response matrix yourself, you can use the templates provided in your text, or you can use the templates that are embedded in the assignment template for this IP. Your submission should be 5 pages in length. Be sure to cite your sources using APA; include your references and in-text citations.

You are sitting around the fire at a lodge in Dillingham, Alaska, discussing a fishing expedition you are planning with your colleagues at Great Alaska Adventures (GAA). Earlier in the day you received a fax from the president of BlueNote, Inc. The president wants to reward her top management team by taking them on an all-expense-paid fly-fishing adventure in Alaska. She would like GAA to organize and lead the expedition.

You have just finished a preliminary scope statement for the project (which follows). You are now brainstorming potential risks associated with the project.

Brainstorm potential risks associated with this project. Try to come up with at least five different risks.

Use a risk assessment form similar to Figure 7.6 to analyze identified risks.

Develop a risk response matrix similar to Figure 7.8 to outline how you would deal with each of the risks.