Project Risk and Mitigation

IT 328 Milestone Three Guidelines and Rubric Project Risk and Mitigation

Overview: In Milestones One and Two, you specifically focused on Section I of your final project. In Milestone Three, you will advance toward successful completion of your final project, the risk analysis and mitigation memo, by drafting key components of the project. Specifically, you will draft Sections II and III of the project—the project risk description (Section II) and the risk mitigation recommendation (Section III). At this point in your learning experience, these items have not been further broken down.

In the final project, and here in Milestone Three, you will analyze and recommend mitigation strategies for one project risk. Refer to the risk matrix in the Project Management Documents Excel workbook to select a project risk to focus on before you proceed. You may pick any one of these risks depending on which area you mean to speak to. You do not need to pick the most likely or significant risk. The risk you choose to focus on must come from this list.

Prompt: Specifically, Milestone Three must address the following critical elements:

I. Project Risk: Select a risk from the list in the Project Management Documents workbook. Using this Excel workbook as a guide, provide detailed information about the specific project risk.

A. Explain why this risk requires attention. Support your response with examples from the Project Management Documentsworkbook. B. Describe any dependencies within the project that may be affected by this risk. Provide specific examples from the project management

documentation to support your response. C. Explain the implications for the project within the context of the triple constraint if this risk is not addressed.

II. Risk Mitigation: Using all available project documents as guides, recommend a risk mitigation strategy. A. Explain the steps that need to be taken in order to mitigate the identified risk. B. Explain in detail how the proposed mitigation strategy will affect the project. Include any tradeoffs that must be made to accommodate the

mitigation strategy, and consider the triple constraint and any other variables that you deem important. C. Defend why your proposed mitigation strategy is the best course of action for the project team.

Remember that your writing throughout the memo should be clear and professional. Use language appropriate for the audience of stakeholders. This will help you prepare to fulfill part of the final project critical element on communication (Section V, Part A).

Rubric

Guidelines for Submission: Your Milestone Three submission should be approximately 2 pages in length with double spacing, one-inch margins, 12-point Times New Roman font, and adherence to the latest edition of APA formatting.

Critical Elements

Attempted With Minimal or No Functional Issues (100%)

Attempted With Significant Functional Issues (75%) Not Evident in Submission (0%) Value

Requires Attention

Identifies risk and explains why the risk requires attention with minimal or no errors, supporting response with examples from project management documents

Identifies risk and explains why the risk requires attention, supporting response with examples from project management documents, but with major errors related to logic, accuracy, or completion

Does not identify risk and explain why the risk requires attention

15

Dependencies Describes with minimal or no errors any dependencies within the project that may be affected by the risk, including support from project management documentation

Describes any dependencies within the project that may be affected by the risk, including support from project management documentation, but with major errors related to logic, accuracy, or completion

Describes any dependencies within the project that may be affected by the risk

15

Implications Using the triple constraint as a guide, explains with minimal or no errors the implications for the project if the risk is not addressed

Explains within the context of the triple constraint the implications for the project if the risk is not addressed but with major errors related to logic, accuracy, or completion

Does not explain the implications for the project if the risk is not addressed

15

Mitigate Explains with minimal or no errors the steps that need to be taken in order to mitigate the identified risk

Explains the steps that need to be taken in order to mitigate the identified risk but with major errors related to logic, accuracy, or completion

Does not explain the steps that need to be taken in order to mitigate the identified risk

15

Affect Explains in detail with minimal or no errors how the proposed mitigation strategy will affect the project, considering the triple constraint and any other variables deemed important including any tradeoffs that must be made to accommodate the mitigation strategy

Explains in detail how the proposed mitigation strategy will affect the project, considering the triple constraint and any other variables deemed important including any tradeoffs that must be made to accommodate the mitigation strategy, but with major errors related to logic, accuracy, or completion

Does not explain how the proposed mitigation strategy will affect the project

15

Best Course of Action

Defends with minimal or no errors why the proposed mitigation strategy is the best course of action for the project team

Defends why the proposed mitigation strategy is the best course of action for the project team but with major errors related to logic, accuracy, or completion

Does not defend why the proposed mitigation strategy is the best course of action for the project team

15

Articulation of Response

Submission has no major errors related to citations, grammar, spelling, syntax, or organization

Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas

Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas

10

Total 100%