Risk Management Tools - Timely Paper Lab

Business Finance

Group Portion

As a group, you are to describe a project that all of you will participate in, and include the following:

Define the goal of the project -To cook a fried chicken dinner(2 pages)
Individual Portion
Each group member is to come up with 2 risks to this project. Each risk must include the following elements:
- What technique(s) was used to identify the risk?
- What type of risk is it, and does it have specific IT elements and considerations?
- How was the risk assessed, and how does it rank with all of the risks identified by the group?
- Is the risk qualitative or quantitative, and does it work with an EMV or Pareto analysis with all of the risks identified by the group?
- What is the response to this risk, assuming it occurs during the project’s lifecycle?
- Provide at least 2 contingency plans for this risk (one primary and a second backup).

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