Project Risk Analysis

Using the same project from week one students will produce a baseline risk management plan for their project. The risk analysis will identify and classify risks to the completion of the project. Based on the analysis, the student will develop controls, monitoring and processes to manage the identified risks.

The student will prepare and submit a risk management strategy and plan. As a part of the plan they should provide convincing arguments for management to accept any changes to the project to account for the risks assessed. Students can use a risk management template. Please use the PMI “Process Group: A Practice Guide” and outside credible resources (minimum 3).

Risk Management Plan –

A. Complete the plan using elements identified in the PMI “Process Group: A Practice Guide” pages 231-234. The outputs are the required elements in the plan. Ensure you include your scope statement, purpose, background from last week’s assignment at the beginning of the plan. Points are deducted if you do not include all elements.

B. After including the elements of the risk management plan – methodology, roles/responsibilities, budgeting, timing, etc. ensure you present your analysis of the actual risks you identify for your project. So you are completing the risk strategy as part A and risk analysis as part B.

This should be completed in MS Word document – APA style with a references page at the end.