Reference no: EM133735568

Instructions

Compile the previous week's assignments for the risk management plan and submit as one document and add the Risk Monitoring and Control section.

Cover Page: Include your name, the project or company name, and the course name and number.

Risk Strategy: Describe the general approach to managing risk on your selected project.

• Methodology: Define the specific approaches, tools, and data sources that will be used to perform risk management on the project.
• Roles and Responsibilities: Define the risk management stakeholders, including team members and others who impact the project or may be impacted by the project. Describe each stakeholder's role and responsibilities related to the project. Include at least seven stakeholders. This section can be a table.
• Stakeholder Risk Appetite: Describe the measurable risk thresholds that provide the level of overall acceptable project risk exposure.
• Risk Identification: Describe the risks for your project based upon broad categories and include both positive (opportunities) and negative (threats) risks. Describe up to eight negative risks and at least two positive risks.
• Qualitative Risk Analysis: Using a probability and impact matrix or risk register, prioritize the risks for your project.
• Quantitative Risk Analysis: Measure the risk impact using specified project management techniques that align quantitative risk factors to the qualitative risk analysis. You can add monetary or time elements to the risks from the qualitative risk analysis.
• Risk Response Strategies: Develop appropriate risk response strategies for the risks from the analyses.
• Risk Monitoring and Control: Outline potential new risks that may occur within the project and discuss the overall expected performance of the project based upon the factors identified in the risk management plan. Review the previously developed components of the risk management plan to ensure validity and make adjustments.