Risk Management in Project Management

Running head: PROJECT MANAGEMENT
Risk management
Name of the Student
Name of the University
Author’s Note

PROJECT MANAGEMENT
1
Table of Contents
1. Identification and qualitative analysis of the risk of each category.......................................2
2. Evaluating the risk and undertaking qualitative/quantitative risk assessment.......................3
3. Risk mitigation treatment.......................................................................................................7
4. Risk monitoring and allocation of responsibilities and roles of risk......................................8
4.1 Risk monitoring................................................................................................................8
4.2Responsibilities allocation for the risk............................................................................10
Bibliography.............................................................................................................................13

PROJECT MANAGEMENT
2
1. Identification and qualitative analysis of the risk of each category
It is found that in order to analyze the risks that are associated with the Flinders Rail
Link project, it is found that two types of risk assessment methods are generally utilized that
are elaborated below:
Root cause analysis method: Root cause analysis method is defined as one of the
methods that generally helps in resolving the issues that further aims to determine of root
cause of various problems as well as incidents (Adeleke et al. 2018). It is analyzed that the
main root cause of operational as well as environmental issues that are related with the
Flinders Rail Link project are generally reflected with the help of the root cause analysis. The
diagram that is provided below mainly showcases on the root cause of the risks with the help
of fishbone diagram that are mainly associated with the Flinders rail link project.
Figure 1: Root cause analysis with the help of fishbone diagram
(Source: Created by Author)