Question

Project Risk Response

Risk responses and action steps are defined during the risk response planning phase. Here the project team must plan the actions that will be taken should any identified risk actually materialize. This is typically done for some subset of the total population of risk issues identified—most likely those that are of the highest probability and/or impact. Risks can be both negative (threats) and positive (opportunities). The possible strategies for responding to negative risks include the following: avoid, transfer, mitigate, and accept. The possible strategies for responding to positive risks include the following: exploit, enhance, share, and accept.

QUESTION

Based on the below risk register regarding the Pepsi Refresh Program

Document the risk triggers in the project risk register in Column G.

Document risk response strategies (plans) for each risk in the project risk register in Columns L–M. The risk response strategies should be derived from the eight strategies of; responding to negative risks include the following: avoid, transfer, mitigate, and accept. The possible strategies for responding to positive risks include the following: exploit, enhance, share, and accept.

A

B

C

D

E

F

G

H

I

J

K

L

M

Risk No.

Risk Name

Risk Event Description

Risk Impact Description

Risk Type

Risk Source

Risk Trigger

Impact Score 1 to 5

Prob. Score 1 to 5

Risk Factor P*I

EMV*

Response Type

Response

1

Sales Decline

Not having the direct brand tie-in to project decreased odds of driving sales

Brand declined to quantify the project's effect on sales

Financial

Project Success

0.8

5

4

$99,099

2

Internet

Disruption of Internet services prevents idea submissions and voting

Decreases the participation level engaged in the project

Operational

Technology

0.9

5

4.5

$25,000

3

Unsatisfied Vendors

Vendor(s) may not support ideas presented by participants

Loose vendor support

Reputation

Environment

1.0

2

2

4

Nonuser-friendly website

Target audience finds the website user interface confusing

If participants find it hard to interact with the website, they may go away and never try again

Operational

Technology

0.4

4

1.6

Answer 1

Answer The three column for risk trigger and response type and response are given in table:

s.no	risk trigger	risk response type	response
1	demand decrease/market down	avoid sales decline	enhance sale
2	Operational breakdown/server down	Avoid operational break down	enhance technology of operational input
3	vendor supply down	Mitigate vendor unsatisfaction	Share vendor complaints
4	Website non friendly user	Avoid website confusing	enhance website user friendly