describe the risk – the risks can include information security, business continuity, operational, project management, financial, etc.

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Assignment: Create a risk assessment matrix for the purchase and integration of six new web servers for a start-up Internet firm. The risk assessment matrix should include:

•  at least 5 risks

•  for each risk:

•  describe the risk – the risks can include information security, business continuity, operational, project management, financial, etc.

•  assess the likelihood of occurrence (i.e., probability), impact, and overall risk level based on these 2 factors (i.e., low probability and high impact equals a medium risk) – each of these risk factors can be rated as simple of low, medium, and high (or any scale that you would like to use)

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•  provide a rationale for your assessment

•  provide a “cost-effective” mitigation strategy to address each risk

•  the results of your assessment for each risk should be plotted in the risk matrix – one axis should be probability while the other axis should be impact. The overall risk level will be the intersection of these two factors on the matrix.

•  the risk assessment matrix can be completed in your choice of Word, Excel, or PowerPoint

•  your grade on the assignment will be based on how well you address the above points, including the level of detail provided

 

The following is an example risk matrix with certain accidents allocated to appropriate cells within the matrix:

 

 

Negligible

Marginal

Critical

Catastrophic

Certain

 Stubbing Toe

Likely

 Fall

Possible

 Major Car Accident

Unlikely

 Aircraft Crash

Rare

 Major Tsunami
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