Project Planning

Unit 5 [GM592: Project Planning and the Project Plan]

1 of 2

Assignment 2: Team Assignment

The team is almost completed with the planning phase and soon will compile all the planning

pieces into a comprehensive project plan. The team will be looking to the risk management

aspects of planning the project. How will we manage the risk that are inherent to the assembly

of our rocket? How will we manage the diverse and often conflicting agendas of our various

stakeholder?

This Assignment is designed to evaluate your ability to research, organize, and demonstrate

project data and financial information pertaining to the development of the risk management

aspects within the project planning phase. These exercises mimic actual situations one could

expect to occur between the project manager and their sponsor or key stakeholders. Its

assessments are directed toward measuring mastery in synthesis of information, proper

classifications, critical thinking, attention to detail, explanations, and professional acumen.

Given the information and templates provided you for the assigned rocket assembly project

(Course Resources):

 Develop the risk management plan for the assigned rocket project.

 Develop the stakeholder management plan for the assigned rocket project. Ensure that your project documents address the criteria of the rubric below and follows the stated requirements.

Directions for Submitting your Team Assignment:

 To submit your Unit 5 Team assignment, have one person designated by the team upload all assignment documents to the Unit 5 Assignment 2 Dropbox. Make sure that you have saved a copy of each of the tools to submit for this assignment.

 Each team member must submit a peer evaluation individually to your Unit 5 Assignment 2 Dropbox.

GM592 Unit 5 Team Assignment: 50 Points Points

Possible Points Earned

Content (0-30 points)

1. Tool Development Risk Management Plan)

a) Risk management methodology? Defines approaches, tools, and date sources used to perform the project's risk management.

15 b) Roles and responsibilities? Defines lead, support, and risk management team member for each risk activity.

c) Risk budgeting? Provides estimates for funds needed in cost baseline and sets process for applying contingency and management reserves.

Unit 5 [GM592: Project Planning and the Project Plan]

2 of 2

d) Timing? Defines when and how often risk management processes will be performed during the project's life cycle.

e) Risk categories? Provides a means for grouping potential causes of risk (i.e. Risk Breakdown Structure, Knowledge Areas).

f) Definitions of risk probability and impact? (See PMBOK, Table 11-1).

g) Probability and impact matrix for the project?

h) Revised stakeholder tolerances? Any adjustments to the stakeholders different risk thresholds over time.

i) Reporting formats? Templates for use in documenting risk process activities/analyses.

j) Tracking? Specifies documentation to be used in tracking identified risk events.

2. Tool Development (Stakeholder Management Plan)

a) Desired/current engagement levels of stakeholders?

15

b) Scope and impact of change to stakeholders?

c) Identified interrelationships and potential overlaps between stakeholders? Stakeholder analysis.

d) Stakeholder communication requirements for the project?

e) Information to be distributed to stakeholders?

f) Reason for distribution of information to stakeholder and expected impact to stakeholder engagement?

g) Time frame and frequency for distribution of information to stakeholders?

h) Method for updating and refining stakeholder management plan?

Analysis (11 points) Response exhibits strong higher-order critical thinking and analysis (e.g., evaluation). Paper shows original thought. 3

Analysis includes proper classifications, explanations, comparisons and inferences. 4

Critical thinking includes appropriate judgments, conclusions and assessment based on evaluation and synthesis of information. 4

Writing (9 points) Grammatical skills are strong with typically less than one error per page. Correct use of APA when assigned. 3

Appropriate to the assignment, fresh (interesting to read), accurate, (no far-fetched, unsupported comments), precise (say what you mean), and concise (not wordy).

3

Project is in 12-point font. Narrative sections are double-spaced with a double space between. Project is free of serious errors; grammar, punctuation, and spelling help to clarify the meaning by following accepted conventions.

3

Peer Evaluation Minus points lost on Peer Evaluation (15= 0, 14= -1, 13= -2, etc.) 0

Total 50