PM/584: Project Risk Management
Risk Management Plan Outline
The following elements must be included in your Risk Management Plan. Your plan is not limited to the outlined content. Specific detail and content is determined on the scenario.
1) Executive Summary
2) Project Summary
a) Requirements
b) Schedule
c) Constraints
3) Risk Management Strategy and Process
a) Strategy
i) Application of resources
ii) Areas in which risk is accepted
b) Process
i) Risk identification
ii) Assessment
iii) Prioritization
iv) Management
v) Reporting and communicating
4) Executing Organization
5) Risk Identification
6) Risk Analysis
a) Explanation of risk analysis
i) Qualitative
ii) Semi-quantitative
iii) Assessment of risks
7) Risk Mitigation Planning
8) Risk Response Planning
9) Risk Tracking
a) Explanation of risk register
b) Presentation of risk register
PM/584: Project Risk Management
Project Baseline
Assignment Content
1.
Resource: Risk Management Plan Outline, and Project Baseline Grading Guide
Select a realistic business project risk scenario that you might use for your course-length final project.
Obtain faculty approval on your selected project risk scenario.
Research and identify a suitable project for risk management discussion and analysis. Several examples are available in weekly readings. The following guidelines apply:
o The project must contain detailed information related to overall project requirements and related risks
o The project must contain adequate substance to support discussing risk identification, risk documentation, and contingency planning
o The project must be ongoing and approved by your facilitator
o The project may be documented through research or a personal experience
o
Write a paper of no more than 1,400 words that describes the project’s background and general requirements, which must include prescheduled milestones, cost constraints, and quality requirements. The paper must relay the theoretical and practical application of the following:
o The framework for risk identification in the project; for example: WBS, brainstorming, and critical success factors
o Fault tree and event tree techniques and how they could be used to identify risks
o Project risks in the selected scenario
o Elements used in documenting project risks