Due Week 4 and worth 240
points
Note:The assignments are a series of papers that are
based on the same case, which is located in the Student Center of the course
shell. The assignments are dependent upon one another.
In this assignment, you will create
a risk management plan. You have a budget of $100,000 and a timeline of six (6)
months for the plan. Please refer to Figure A-1, Risk Management Plan Template,
from Appendix A of the Hillson and Simon text to create the plan.
Write an eight to ten (8-10)
page Risk Management Plan Component paper in which you:
1. Prepare the Scope and Objectives of the Risk
Management Process section of the Risk Management Plan based on the facts
presented in the case study.
2. Determine the project size, based on the facts
presented in the case study, and provide justification based on Figure 3-4,
Example Project Sizing Tool (Chapter 3 of the Hillson and Simon text).
3. Select the risk tools and techniques, and complete
the Risk Tools and Techniques section of the Risk Management Plan for both the
qualitative and quantitative aspects of the project. Provide a rationale for
the selection.
4. Develop the Risk Reviews and Reporting section of
the Risk Management Plan based on the project size previously determined.
5. Define the Probability and Impacts section of the
Risk Management Plan and justify the values assigned.
6. Define the Risk Thresholds section of the Risk
Management Plan and justify the values assigned.
Your assignment must follow
these formatting requirements:
· Be typed, double spaced, using Times New Roman font
(size 12), with one-inch margins on all sides.
· Include a cover page containing the title of the
assignment, the student’s name, the professor’s name, the course title, and
the date. The cover page and the reference page are not included in the
required assignment page length.
The specific course learning
outcomes associated with this assignment are:
· Apply the concepts of risk management in a project
context to develop an appropriate risk management plan as a key element of the
project management process.
· Survey the project sponsor, stakeholders, team
membership and key decision influencers to develop a qualitative assessment of
the project risks and apply the results to further refine the project risk
management plan.
· Create a schedule of project risk reviews
appropriate to the organization and risk including major, minor, and
post-project threats and opportunities, including archiving the results of the
project risk plan is incorporated into this schedule.
· Use technology and information resources to
research issues in project risk management
· Write clearly and concisely about project risk
management using proper writing mechanics.
