Risk Management- Task 1- Hoke Enterprises, Inc.
Tara Johnson

A. 2.

Risk Description Source Likelihood of Occurrence* Severity of Impact* Controllability*
1. Customer Changes to the brief and/or scope of work contract Low High medium
2. equipment Failure to order on time resources Low High High
3.
Interruption to Supply Location to major suppliers must be identified in relation to season, geographic area, & natural disaster. organization high medium medium
4. design Movement of existing structure natural Low Medium medium
5. bid price May be higher than budget allowance. contract low High high
6. financing Failure to secure sufficient revenue to meet operating costs. Economical Low High medium
7. Skill shortage Meeting balance between skilled workforce & demand. social Very high high high
8. licensing To avoid conflicts with community & maintain good reputation in environmental, health, & safety. legislative high high high

3. Risk levels-
These should be categorized by the probability of the occurrence and its uncertain impact. The requirements per scalability levels should be set at minimum requirements. The project team may choose to work at a higher scalability level than required or work at a lower level. However, the project team should consider other factors to determine what level of risk management effort is needed. These factors may include: (1) political sensitivity, (2) the type of the project, (3) location of the project and the community it serves, (4) duration of the project, (5) stakeholders of the project, and (6) the sponsor’s sensitivity to the primary objectives of the project (cost and schedule). Any of these factors may warranty employing a higher scalability level (Pieplow, 2012).
(1) low- minor injury/harm.
(2) medium- one or two moderate harms/injuries to actions in the project.
(3) high- multiple