Week One – Risk Identification Worksheet And Paper

For this week’s assignment, I have attached and highlighted the information I would use in the paper. Along with websites, you can find information to support. 

Scenario Two

A construction company has been awarded the contract to build a pipeline in Alaska. The project timeline is of the highest priority because work can only be completed during the summer months due to adverse weather conditions. One of the suppliers of a key component has a longer lead time than is required to complete the pipeline but may deliver if the construction company will pay fees to expedite. There are other suppliers, but these suppliers are not on the construction company’s approved supplier list, and it would take time to get them approved. There is a huge penalty in the contract if the project is not completed on time.

Write a 1,050- to 1,750-word paper in which you select one scenario from the Risk Identification Scenarios worksheet and do the following: 

• Define the risk management process. 
• Explain the role of risk management in the project planning process. 
• Describe at least two risks and their sources for the selected scenario.  
• Outline how the risk management may mitigate the risks for each risk listed. 
• Explain how you would document the risk.

Format your paper consistent with APA guidelines.