Select a risk area to feature in this individual assignment

Assignment Help Project Management
Reference no: EM131426856

Assignment: Developing a Risk Response Plan

Evaluating a project for probability, costs and impact is imperative before developing a risk response plan. Most organisations do not have the time and resources to devote the same level of effort to every risk. Thus, risk response plans need to examine risks systemically and consider the highest risks as well as stakeholder risk tolerance.

In the Readings, you will read how Ackermann et al. (2007) identified a risk filter as a tool to provide a framework for risk mitigation. This tool can be applied to each project within the selected area of the organisation. This filter tests for a wider range of risks and builds in systemicity, resulting in the development of action portfolios.

This is just one tool that could be used for response planning. For this Individual Assignment, you will research other tools and tailor one or more to develop a risk response plan for the project you identified in Unit 1. You will revise this Individual Assignment to include Faculty Member feedback and incorporate it into your Final Project.

To prepare for this Individual Assignment:

- From the project you identified in Unit 1, select a risk area to feature in this Individual Assignment. This risk area should be narrow enough that appropriate strategies and tools might make a difference in ameliorating the threat.

- From the Readings and credible online sources, identify strategic management tools that might be particularly appropriate in analysing a risk area associated with your selected project from Unit 1. Consider the impact and effectiveness each of these tools may have on your project.

To complete this Individual Assignment:

- Prepare a detailed response plan for the selected risk area incorporating the tools that you selected. Include in your response plan a probability and impact assessment, prioritisation and identification of early warning indicators.

- Explain how you considered stakeholder risk tolerance in your risk response plan. Would your planning for individual risks change depending on a stakeholder's tolerance for risk? If you had to prioritise the stakeholders depending on their risk tolerance, how would you still reassure those who were more risk tolerant?

- Cite all sources used in preparation for this Assignment, including the articles you researched online.

Attachment:- Project.rar

Verified Expert

The present report is focused on two main areas. one is risk response planning and other is risk tolerance of the stakeholders. the tools & strategies along with the features of risk response planning have been mentioned in the report. risk tolerance factors are also described following the benefits of the process.

Reference no: EM131426856

Determine the expected duration of the entire project

Determine the expected duration of the entire project, showing all of your work or reasoning. Determine the slack for project Activity E, showing all of your work or reasoning

What are the types of business ownership

What are the four types of business ownership and describe each of them Your response should be at least 200 words in length. You are required to use at least your textbook

Which program would be best for managing a typical project

Provide a detailed comparative analysis of the software programs and identify which program would be best for managing a typical project in your organization and explain why

Determine how many servers should report for work

Owner Avanti Sethi's scheduling problem is to determine how many servers should report for work at the start of each time period in order to minimize the total staff require

Discuss five uses of a wbs in project management

The Work Breakdown Structure (WBS) subdivides the scope of work into manageable work packages that can be reliably estimated and assigned to a responsible person for complet

Design a semantic differential scale

Mike, the owner of the convenience store Mike's Market, is concerned about low sales.- Design a semantic differential scale that will measure the relevant aspects of Mike's M

A crisis by the obama administration

Handling a crisis by the Obama administration - During a recent visit to Colombia, several members of the Secret Service apparently engaged in various forms of misconduct.

Develop its programme or portfolio management capability

Question: Can you providing an example of an organisation that utilises/utilised change agents as part of a major change initiative to develop its programme or portfolio man

Reviews

len1426856

3/14/2017 5:38:04 AM

Select a project on which you have previously worked or one with which you are familiar. You may also select one of the scenarios from the Managing Projects module if you prefer. This project should be large-scale enough or complex enough that it would involve many risks, potential issues and stakeholders. You will use this project throughout this module and for your Final Project to prepare a risk management strategy.

Write a Review

 
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd