Project risk management | Management homework help
Part 1 Instructions
See the attached file for the instructor provided project. This includes a draft scope statement and the WBS/Estimate/Schedule.
Read through the attached documents.
For this assignment submission, since you have been given a scope statement, (1) prepare a short summary of the project, (2) what success looks like for the project and (3) what challenges might get in the way of the project being successful.
This includes reviewing (1) the MPP and (2) identifying the WBS, resourcing, and critical path schedule to note how these may affect the project’s success.
Part 2 Instructions
Week 1 Learning Objectives
· Articulate the value and benefits of creating an effective approach to planning for project risk management
· Create a risk management plan to determine how both positive and negative risks will be identified, analyzed and managed
This assignment provides the opportunity to review risk management practices and the Risk Management Plan.
· The Risk Management Plan is typically the first risk deliverable created in a project – and is the agreement to the approach for risk work for the project. However, since we have not yet reviewed the risk management tool/s techniques that would be integrated in this document, it is difficult to write it this week. For this week, we will create an awareness of this deliverable. As we go through the term and discus these different tools/ techniques, it is then possible to detail out this deliverable. Each week, based on our topics, continue to build this RMP – you will then submit the completed Risk Management Plan at the end of Week 5 for comprehensive feedback – remember, typically this would be built first and then guide the work we will do in Weeks 2 – 4. Instead, this term, we are practicing the risk work and then using that knowledge to “reverse engineer” the RMP. Hope this makes sense and reach out with any questions.
· For this week, you will review the Risk Management Plan through the perspective of your project.
· A Risk Management Plan (RMP) template is provided as a framework.
· At this point, we have not covered the tools that would be integrated into this plan – for this assignment, for each section of the RMP template provide a sentence or two as to what would be included in the section, how it will support the risk work for the project. and how it adds value to risk management work for the project.
· Refer to Rubric for grading guidelines
· Use the readings and topics covered in class as a checklist to ensure that all the key elements are considered.