Question

You have been assigned to a project risk team of three members. Because this is the first time your organization has set up a risk management team for a project, it is hoped that your team will develop a process that can be used on all future projects. Your first meeting is next Monday morning. Each team member has been asked to prepare for the meeting by developing, in as much detail as possible, an outline that describes how you believe the team should proceed in handling project risks. Each team member will hand out their proposed outline at the beginning of the meeting. Your outline should include but not limited to the following information:

a. Team objectives,

b. Process for handling risk events,

c. Team activities, and

d. Team outputs.

Answer 1

A project risk team should have clear objectives, a process for handling risk events, defined team activities, and specific team outputs.

Step-by-step explanation:

As a member of a project risk team, it is important to develop a process for handling project risks that can be used on future projects. Here is an outline that describes how the team should proceed:

1. Team objectives: Clearly define the goals and objectives of the team, such as identifying and assessing project risks, creating mitigation strategies, and monitoring risk throughout the project.
2. Process for handling risk events: Establish a systematic approach for identifying, analyzing, and responding to risk events. This may include conducting risk assessments, developing risk registers, and implementing risk response plans.
3. Team activities: Outline the specific activities the team will perform, such as conducting risk workshops, analyzing project documents, and consulting subject matter experts.
4. Team outputs: Specify the deliverables the team will produce, such as risk reports, risk mitigation plans, and updated project schedules.