Risk and Reward Assessment
Read the material at the sites listed (https://www.managerwise.com/article.phtml?id=405; https://www.managerwise.com/article.phtml?id=136; https://www.managerwise.com/article.phtml?id=1; https://www.maxwideman.com/pmglossary/PMG_R05.htm#Risk%20and%20Contingency%20Management ) to help guide you assess the risks and rewards related to the solution(s) to the management problem you are exploring. Complete a 2-4 page paper discussing the risks and rewards to your client as they relate to the management problem are exploring during this course.
Questions to consider are:
During the Risk Assessment phase of this project, you are asked to evaluate:
What are the risks and rewards if the solution is implemented and results in the desired outcome?
Consider the potential amount of loss and the probability of the loss occurring for each of the solutions to your problem(s) you identified during Week Three if each of the solutions are implemented and the outcome is the desired result.
What are the risks and rewards if the solution is implemented but does not result in the desired outcome?
Consider the potential amount of loss and the probability of the loss occurring for each of the solutions to your problem(s) you identified during Week Three if the solution does not result in the desired outcome. This is done for each risk associated for each option.
What are the risks and rewards if nothing is done (continuing with the status quo)?
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