GROUP MEMBERS

OPIO ISAAC
ERITU PIUS
MASIKA NOERINE
NALWASA ERIA
BUA EMMANUEL

RISK ASSESSMENT
Risk assessment is the act of
determining the probability that
a risk will occur and the impact
that event would have, should it
occur.
This is done before risk planning

Risk Assessment Process

1.Identifying risks
Risks can be identified from a number
of different sources. Some may be quite
obvious and will be identified prior to
project kickoff.
Others will be identified during the
project lifecycle for example business
risks like marketability, economic
conditions
A risk can be identified by anyone
associated with the project.

2. Estimating a risks

cost/effects
E.g. in some projects there is a risk
that the laptop having the project
will be stolen
If the laptop is stolen, what will it
take to replace the laptop?
You may need to consider buying a
new laptop and start the project

3. Estimating the risks

likelihood
This refers to the probability of the
risks occurrence.
e.g. how likely is it for the laptop to
be stolen?
We first find out if there have been
some cases of stolen laptops, and
incase there are, we identify the
causes.

4. Identifying Alternatives
E.g. Are there any other
alternatives incase the laptop is to
be stolen?
Backup our project on the Google
drive, an external drive(hard
disk) or a friends laptop.

Evaluating and comparing

alternatives
Google drive
It can be accessed any where but it
requires an internet connection to
obtain your data.
Hard drive
It has a bigger memory.
It can easily be affected by a virus.
A friends laptop
5.

RISK PLANNING
Is the systematic process of
deciding how to approach, plan
and execute risk management
activities throughout the life of a
project.

Risk Planning processes

Learn about the risk
This involves acquiring information
about the risk like;
The root cause of the risk
How to eliminate the risk
The effects of the risk and if they are
tolerable
1.

2. Plan to avoid the risk

This can be done by eliminating
the root causes and avoiding the
risky activities
E.g Being security conscious by
locking your laptop always

3. Move the risk

oMove the risk off the critical path
oTransfer the risk to someone else
For example A risk involves
creation of some
technologically difficult software
oThe risk could be transferred
by oOutsourcing that
component

4. Create a risk management

plan
Create a plan for what to do if the
worst happens
e.g The laptop having the project
being stolen;
it would be better if the student
had some backup on either a google
drive , an external disk drive or a
friends laptop.

5. Mitigate and control the risk

Risk mitigation produces a
situation in which the risk items
are eliminated or otherwise
resolved.e.g you can buy insurance
to cover any financial loss should
the risk become a reality.
It also involves the creation of a
contingency plan to deal with the
plan should it occur

6. Tolerate the risk

This involves the amount of risk
that a person or organization is
willing to tolerate for some benefit

7. Document the risk

To provide the necessary
documentation on all the risk you
have encountered during your
project management process so
as to guide to guide others

8. Monitor the risk

This involves coming up with
possible risk s ;probabilities and
the possible effects that maybe
encountered during the project.