Identify at least 6 important threats, define your probability and cost scales, evaluate the risks and list the threats in order from highest to lowest risk.

Understanding how the best company is selected for a project is best done while on the job. This week we let you evaluate two out of four company proposals and score their company resumes against the Lambert Park Phase II RFP we covered in Lesson 2.

Step 1. Complete reading Chapter 1 from the course textbook.

Step 2. Select two of the following proposals and evaluate their suitability to complete the Lambert Park Phase II project (this is the first task of the homework assignment).

David Volz Proposal (Attached)
Hirsch & Associates Proposal (Attached)
MIG Proposal (Attached)
RJM Design Proposal (Attached)
Step 3. Read the following:

Text – Chapter 4: Risk
Risk Management Case Study -ANMC
From the web: Risk Analysis & Risk Management: Evaluating and Managing the Risks You Face, http://www.mindtools.com/pages/article/newTMC_07.htm
Step 4. Complete the second task of the homework and submit your work on Blackboard as directed in the assignment below.

Questions

1. Provide your scoring for the two proposals assigned to you in the attached matrix.

2. Risk Management Case Study – ANMC

a. Evaluate the risks associated with completing this project by using a risk matrix. Identify at least 6 important threats, define your probability and cost scales, evaluate the risks and list the threats in order from highest to lowest risk.
b. Of the risks you identified, which risks should you mitigate? What steps could you take to manage and/or mitigate the risks you identified.