Budget and Risk Management

Budget and Risk Management: 

At the end of week 5, you are to finalize the overall project cost and clearly document project risks gathered throughout the project. As part of the risk management plan, you are expected to share a risk response plan. 

Project cost and risk management plans will include the following components: - Overall project budget (utilizing EVM – share current and forecasted project status) - Project requirements – updated - Cost management plan – outlining contingency plan for project changes - Detailed risk management plan - Risk response plan - Risk mitigation plan - Change management process - How project RAID (Risk, Assumption, Issues, and Dependencies) will be managed - Stakeholder engagement – communication plan