Perform Qualitative Risk Analysis is the process of prioritizing risks for further analysis or actions by assessing and combining probability of occurrence and impact. You can buy each template individually or purchase the Perform Qualitative Risk Analysis Package for 74% Off.
This Risk Management Guide describes how risk management activities will be organized and performed in your project. This template contains the information on the identified and collected project risks such as risk category, trigger point, impact, probability, risk score, strategy, and response plan among other risk analysis. This template helps you to analyze the identified and collected project riskssuch as risk category, triggerpoint, impact, probability, risk score, strategy, andresponse plan. This template helps you to define risk probabilities and impact for various sectors of your project, such as cost, scope, quality, and time. This template is a risk assessment and its probability of occurrence with key topics involving risks related to customer support. This is a worksheet where you can log your risk events, impact, scores, and like hood of their occurrences.
This template is a risk assessment and its probability of occurrence with key topics involving risks related to the human resources sector of the project. This template is a risk assessment and its probability of occurrence with key topics involving risks related to the third party. This is a checklist for a disaster recovery plan that can be modified to any project.
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This post introduces a useful risk assessment tool you can download and use on your projects.

The Risk Assessment ChallengeA problem with risk assessments is that risks are often relative to the observer.
As you go, a risk severity score for that category is calculated and an overall risk score tallied for the project. Here we can see that our score for the risk area addressed on tab “1 – Size and scope” produced a score of 62 out of a possible 108, giving a “Yellow” risk flag for than category.
Column 12 in the risk profile graph shows an overall score for the project; in this case 418 out of a possible 839, giving the overall project a “Yellow” status.
Now I believe the smarter thing to do is to try and find ways to chop large “Red” projects into multiple “Yellow” or “Green” projects, or find ways to vary the scope or approach so that “Red” projects can be reconceived as lower risk projects, but this is not always possible. So, tools like this spreadsheet should obviously not be used as your only risk assessment method.
Also, I would like to point out that it is not as comprehensive or sophisticated as professional risk tools on the market. That said, if your current risk assessment process is ad-hoc and varies from PM to PM, a simple tool to address the common risk areas could be a great starting point.
Establishing definitions and levels of probability can reduce the influence of bad risks and therefore increase the success of the project.
It helps your to foresee risks, estimate effectiveness, and create response plans to mitigate them.
While I created the spreadsheet formatting and presentation, the risk categories, questions and scores come from IEEE analysis of actual software project risks, so they have a reputable source.
There is an eleventh tab where you can optionally enter your own project specific risks if you wish. I worked for a consulting company in the UK that used a similar model to help determine the seniority of project manager that should be assigned to a project.

It is designed to help you think about the various risks on your project, it should not substitute thorough risk analysis involving a wide variety of project stakeholders. For many organizations it is difficult to get an objective view of their project risks across a portfolio of projects because different project managers have different risk thresholds.
Each tab has a number of questions about your project, you answer the questions by selecting the response that best fits your project from the drop down list in column “C”.
The score for tab “2 – IT Tools and Methods” scored 30 out of 93, giving a “Green” risk flag. Back then I was assigned to “Green” and “Yellow” projects, they called in the big guns for “Red” projects. The IEEE source I took these from needs refreshing in the fields of hardware technology risk, and bringing up to date for emerging trends such as closer collaboration with users or offshoring. What a “Gung-ho” project manager rates as a “Medium Risk” project might actually be “Very High Risk” project to the majority of other project managers. Likewise tab “6 – Business Process” was flagged as “Red” a warning sign that the project carries a lot of risk in this area. Even more problematic, is when project risk assessments miss major categories of risks and are rated much lower risk than they should be. The risk profile tool I will introduce is a mechanism to help bring consistent risk assessments across an organization and ensure no major risk areas are omitted.

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