Summary of the Denver Baggage case
Write an Executive Summary of the Denver Baggage case using full references and in text citations. Report must include the following elements as well as a detailed discussion of the failure points and how you would address each of them.Paper details:Read the Denver Baggage Case (Full case study with detailed links and outside references) http://calleam.com/WTPF/?page_id=2086
Failure list http://calleam.com/WTPF/?page_id=2338
Types of project approaches http://www.umsl.edu/~hugheyd/is6840/introduction.html
Question 1 Write an Executive Summary of the Denver Baggage case using full references and in text citations. Report must include the following elements as well as a detailed discussion of the failure points and how you would address each of them.
a) Create a Mind Map of the Denver Baggage Failure with:
a. At least 5 major categories (ex: Goal and Vision etc.) for the 1st level
b. At least 2 branches from each of the 1st level categories
c. At least 3 branches from each of the 2nd level categoriesb) Create a 3 X 3 Risk Matrix for the major actual or perceived failures (Low, Medium, High Impact vs Low, Medium, High Frequency) all 9 cells must be filled in.c) Create a risk mitigation plan for the top 5 failures with full details using the risk assessment form
IMPACT
Insignificant Marginal Moderate Critical Catastrophic
PROBABILITY Definitely
LikelyOccasionalSeldomUnlikelyDetailed explanationhttp://www.brighthubpm.com/templates-forms/104889-using-a-probability-and-impact-matrix-for-project-risk-management/#imgn_0ProbabilityOn the basis of the chances of occurrence of the risks each risk can be classified under one of the following probabilities:Definitely 80 to 100 percent chances of occurrenceLikely 60 to 80 percent chances of occurrenceOccasional 40 to 60 percent chances of occurrenceSeldom 20 to 40 percent chances of occurrence
Unlikely less than 20 percent chances of occurrenceImpactOn the basis of the impact that a risk will have on the project, the risk can be classified under one of the five degree of impacts:
Catastrophic: A risk that can prove detrimental for the whole project.
Critical: Risks which can significantly jeopardize some aspects of the project, but which will not completely ruin the project.
Moderate: Risks which will cause some problems, but nothing too significant.
Marginal: Any risks which will have just a mild impact on the project, still these must be addressed in time.
Insignificant: Risks which do not pose any significant threat and which can be left unmediated without any fear.
Based onhow each risk scoreson these two scales it can be placed in one of the intersecting cells. Once all the risks have been allocated a place on thisrisk management
probability and impact matrix, heres how to interpret the entries on this matrix.
Each of the cells on this 55 matrix has been given one of the four colors red, pink, orange and green. The significance of these colors is:
Red (Extreme Risk) All risks that fall in the red cells are of utmost importance. Prevention and mitigation strategies for all these risks must be framed much in advance so as to prevent their occurrence or to fight them back as soon as they surface up.
Pink (High Risk) These are the risks that again must be optimally addressed, however they do not enjoy top priority like the risks in red cells. These are also significant risks and its advisable to have them included in therisk management strategies.
Orange (Medium Risk) These are risks which can be left out during the formulation of risk management strategies, as these are low priority risks and can be handled as and when they arise. However, that does not mean these risks can be ignored altogether.
Green (Low Risk) The risks in the green are nearly harmless and in most cases these can be safely ignored. Most risks in this category dont require any mediation at all.

Summary of the Denver Baggage case
Write an Executive Summary of the Denver Baggage case using full references and in text citations. Report must include the following elements as well as a detailed discussion of the failure points and how you would address each of them.

Paper details:

Read the Denver Baggage Case (Full case study with detailed links and outside references) – http://calleam.com/WTPF/?page_id=2086
Failure list – http://calleam.com/WTPF/?page_id=2338
Types of project approaches – http://www.umsl.edu/~hugheyd/is6840/introduction.html
Question 1 – Write an Executive Summary of the Denver Baggage case using full references and in text citations. Report must include the following elements as well as a detailed discussion of the failure points and how you would address each of them.
a) Create a Mind Map of the Denver Baggage Failure with:
a. At least 5 major categories (ex: Goal and Vision etc.) for the 1st level
b. At least 2 branches from each of the 1st level categories
c. At least 3 branches from each of the 2nd level categories

b) Create a 3 X 3 Risk Matrix for the major actual or perceived failures (Low, Medium, High Impact vs Low, Medium, High Frequency) – all 9 cells must be filled in.

c) Create a risk mitigation plan for the top 5 failures with full details using the risk assessment form
IMPACT
Insignificant Marginal Moderate Critical Catastrophic
PROBABILITY Definitely
Likely

Occasional

Seldom

Unlikely

Detailed explanation

http://www.brighthubpm.com/templates-forms/104889-using-a-probability-and-impact-matrix-for-project-risk-management/#imgn_0

Probability

On the basis of the chances of occurrence of the risks each risk can be classified under one of the following probabilities:

Definitely – 80 to 100 percent chances of occurrence

Likely – 60 to 80 percent chances of occurrence

Occasional – 40 to 60 percent chances of occurrence

Seldom – 20 to 40 percent chances of occurrence
Unlikely – less than 20 percent chances of occurrence

Impact

On the basis of the impact that a risk will have on the project, the risk can be classified under one of the five degree of impacts:
Catastrophic: A risk that can prove detrimental for the whole project.
Critical: Risks which can significantly jeopardize some aspects of the project, but which will not completely ruin the project.
Moderate: Risks which will cause some problems, but nothing too significant.
Marginal: Any risks which will have just a mild impact on the project, still these must be addressed in time.
Insignificant: Risks which do not pose any significant threat and which can be left unmediated without any fear.
Based on how each risk scores on these two scales it can be placed in one of the intersecting cells. Once all the risks have been allocated a place on this risk management
probability and impact matrix, here’s how to interpret the entries on this matrix.
Each of the cells on this 5×5 matrix has been given one of the four colors – red, pink, orange and green. The significance of these colors is:
Red (Extreme Risk) – All risks that fall in the red cells are of utmost importance. Prevention and mitigation strategies for all these risks must be framed much in advance so as to prevent their occurrence or to fight them back as soon as they surface up.
Pink (High Risk) – These are the risks that again must be optimally addressed, however they do not enjoy top priority like the risks in red cells. These are also significant risks and it’s advisable to have them included in the risk management strategies.
Orange (Medium Risk) – These are risks which can be left out during the formulation of risk management strategies, as these are low priority risks and can be handled as and when they arise. However, that does not mean these risks can be ignored altogether.
Green (Low Risk) – The risks in the green are nearly harmless and in most cases these can be safely ignored. Most risks in this category don’t require any mediation at all.

Summary of the Denver Baggage case
Write an Executive Summary of the Denver Baggage case using full references and in text citations. Report must include the following elements as well as a detailed discussion of the failure points and how you would address each of them.

Paper details:

Read the Denver Baggage Case (Full case study with detailed links and outside references) – http://calleam.com/WTPF/?page_id=2086
Failure list – http://calleam.com/WTPF/?page_id=2338
Types of project approaches – http://www.umsl.edu/~hugheyd/is6840/introduction.html
Question 1 – Write an Executive Summary of the Denver Baggage case using full references and in text citations. Report must include the following elements as well as a detailed discussion of the failure points and how you would address each of them.
a) Create a Mind Map of the Denver Baggage Failure with:
a. At least 5 major categories (ex: Goal and Vision etc.) for the 1st level
b. At least 2 branches from each of the 1st level categories
c. At least 3 branches from each of the 2nd level categories

b) Create a 3 X 3 Risk Matrix for the major actual or perceived failures (Low, Medium, High Impact vs Low, Medium, High Frequency) – all 9 cells must be filled in.

c) Create a risk mitigation plan for the top 5 failures with full details using the risk assessment form
IMPACT
Insignificant Marginal Moderate Critical Catastrophic
PROBABILITY Definitely
Likely

Occasional

Seldom

Unlikely

Detailed explanation

http://www.brighthubpm.com/templates-forms/104889-using-a-probability-and-impact-matrix-for-project-risk-management/#imgn_0

Probability

On the basis of the chances of occurrence of the risks each risk can be classified under one of the following probabilities:

Definitely – 80 to 100 percent chances of occurrence

Likely – 60 to 80 percent chances of occurrence

Occasional – 40 to 60 percent chances of occurrence

Seldom – 20 to 40 percent chances of occurrence
Unlikely – less than 20 percent chances of occurrence

Impact

On the basis of the impact that a risk will have on the project, the risk can be classified under one of the five degree of impacts:
Catastrophic: A risk that can prove detrimental for the whole project.
Critical: Risks which can significantly jeopardize some aspects of the project, but which will not completely ruin the project.
Moderate: Risks which will cause some problems, but nothing too significant.
Marginal: Any risks which will have just a mild impact on the project, still these must be addressed in time.
Insignificant: Risks which do not pose any significant threat and which can be left unmediated without any fear.
Based on how each risk scores on these two scales it can be placed in one of the intersecting cells. Once all the risks have been allocated a place on this risk management
probability and impact matrix, here’s how to interpret the entries on this matrix.
Each of the cells on this 5×5 matrix has been given one of the four colors – red, pink, orange and green. The significance of these colors is:
Red (Extreme Risk) – All risks that fall in the red cells are of utmost importance. Prevention and mitigation strategies for all these risks must be framed much in advance so as to prevent their occurrence or to fight them back as soon as they surface up.
Pink (High Risk) – These are the risks that again must be optimally addressed, however they do not enjoy top priority like the risks in red cells. These are also significant risks and it’s advisable to have them included in the risk management strategies.
Orange (Medium Risk) – These are risks which can be left out during the formulation of risk management strategies, as these are low priority risks and can be handled as and when they arise. However, that does not mean these risks can be ignored altogether.
Green (Low Risk) – The risks in the green are nearly harmless and in most cases these can be safely ignored. Most risks in this category don’t require any mediation at all.