Risk and Performance Analysis
Part 1: Risk Analysis
Perform a Risk Analysis of your (Car Restoration) project. Identify several risk events, the likelihood that it will occur, the impact on the project and what phase of the project it would happen. Next, identify the costs associated to each risk and who would be responsible of dealing with the risk. Finally, prepare a response for each risk. You are strongly encouraged to use a variety of qualitative and quantitative risk analysis methods in this section.
Part 2: Performance Analysis
Identify what tools you would use to track your project performance once the project begins. Explain how these tools address the following questions:
How would you know if you are on schedule?
How would you know if you are on budget, over budget or under budget?
When will the project be completed?
The deliverable for this part of the project will be a formal letter to your supervisor (your instructor) that explains your project risk and performance analysis for the project. You will need to show your calculations in an appendix.