1. Lesson 7 Risk Management
Exercises 2 and 3 Instructions and Templates

2. Risk Analysis Exercise 2 JRATS Risk Analysis
TASK: Assume the risk you identified in Exercise 1 has a 50% chance of occurring. You will need to identify the consequence level (either cost, schedule, or technical performance) based on your experience and given the chart below. Using the legends below place the risk in the appropriate location on the Risk Matrix Template on Chart 4
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3. Exercise 2: Risk Matrix Template
Directions:
Write your risk statement:
Based on the risk’s likelihood and your analysis of its consequence, place the Wedge (your team/risk number) in the appropriate box on the risk cube
Identify whether it is predominantly a Cost, Schedule, or Performance Risk.
Explain/brief your assessment
Write risk statement here 1 5 4 3 2 1 2 3 4 5
Probability/Likelihood C S P P 1
Example: = Risk 1 / Performance Risk 1 2 3 4 5
Consequence

4. Risk Exercise 3
Step 1: Using your risk statement from Exercise 1 and your risk matrix from Exercise 2, identify detailed steps (template available at chart 5) that will drive risk to an acceptable level given program constraints and objectives Step 2. Using the template on chart 6 develop the “Waterfall Chart” showing how you will burn down the risk. Step 3: Adjust Risk Matrix Expectation (template at chart 7) consistent with Mitigation Planning
From Exercise 1
From Exercise 2
Action
Who
What
When 1 2 3 4
Chart 5
Chart 6
Chart 77

5. Burn Down Actions Template
When? Who? Funding? 1. 2. 3. 4. 5. 6. 7. 8. 9.
Action

6. Burn Down Template
HIGH
MED-HIGH
Calendar Months
LOW-MED 1
Current Assessment: 2 3 n 4
TIME
NOW
LOW
Place actions on Burn Down Chart consistent with Mitigation Planning

7. Risk Matrix Template # #
Adjust Risk Matrix Expectation consistent with Mitigation Planning