Project Risk Management

AssignmentInstructions.doc.rtf

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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

Essential Components

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.

Assignment Rubric

Category

Above Standard

Meets Standards

Approaching Standards

Below Standards

Not Evident

Assignment requirements (70%)

Goes well above the requirements of the assignment.

Provides new

Goes above the minimum requirements of the assignment

Meets minimum assignment requirements

Meets some assignment requirements

Does not meet the requirements of the assignment.

information, tools,

and/or techniques

Critical Thinking

Professional insights

Comprehensive

Includes an explanation

Includes a general

Does not explain the

(15%)

into depth and breadth

explanation of the

of the issue;

explanation of the issue

issue; does not explore

of assignment - goes

issue; exploration of

exploration of expert

but is vague or is not

expert viewpoints or

WELL beyond

expert viewpoints and

viewpoints and use of

clearly linked to the

use evidence to inform

assignment

use of evidence to

evidence to inform

identified risks;

interpretation and

requirements to

inform interpretation

interpretation and

includes some

analysis; does not

explore risks and/or

and analysis; thorough

analysis; includes an

exploration of expert

provide an evaluation

relevant new

evaluation of the

evaluation of the

viewpoints and use of

of the context

techniques.

context (historical,

context (historical,

evidence to inform

(historical, ethical,

ethical, cultural,

ethical, cultural,

interpretation and

cultural, environmental

environmental or

environmental or

analysis; includes a

or circumstantial

circumstantial

circumstantial

general evaluation of

settings), and self and

settings), and self and

settings), and self and

the context (historical,

others’ assumptions

others’ assumptions

others’ assumptions

ethical, cultural,

and perspectives when

and perspectives when

and perspectives when

environmental or

stating a position;

stating a position; well-

stating a position;

circumstantial

conclusions are not

informed conclusions

conclusions are based

settings), and self and

based on prioritized

based on methodically

on methodically

others’ assumptions

evidence and

and perspectives when

perspectives.

stating a position, but

prioritized evidence and perspectives.

prioritized evidence and perspectives.

lack specificity; conclusions are based on prioritized evidence and perspectives.

Communication (10%) (includes grammar and clarity)

Goes well beyond assignment requirements to communicate information in a precise, insightful and professional manner.

Assignment is well organized, and the format can be followed. It is evident to reader what is contained in each section of the report. High quality grammar. No misspellings.

Assignment is organized, and the format can be followed. It is evident to reader what is contained in each section of the report. High quality grammar. No misspellings.

Assignment is well organized, and the format can be followed. It is evident to reader what is contained in each section of the report. Good quality grammar. Minor misspellings.

Assignment is not organized. It is not evident to reader what is contained in each section of report. Low quality grammar, misspellings.

Formatting

Virtually no errors in

Rare errors in

Some errors in

Multiple errors in

Does not submit

(5%)

formatting, citations,

formatting, citations,

formatting, citations,

formatting, citations,

assignment materials

NOTE: Gross

or references.

or references.

or references.

or references.

in APA 6 format.

failure to

provide

PROPER

citations and

references –

particularly

with regard to

direct quotes –

will result in

sanctions as

outlined in the

academic

honesty policy