Risk Management Plan

Deliverable Length:  750–1,500 words

Assignment Details

Part I

For this assignment, you will develop a risk management plan based on a project of your choosing.

Some examples of projects include the following:

Replacing computers in an office building

Improving a claims process

Developing a marketing strategy

Building a bridge

Taking inventory in a warehouse

Creating a new software program for a bank

You can get ideas for projects based on your experiences. For example, if you have a marketing background, the development of a marketing strategy may be a good choice. If you have experience in software, the development of software for a company could be an option.

You can also view sample projects from one of the following Web sites:

Rutgers Business School

CIO

Note: You will use this project for the duration of this course.

Click here to download a Word template for your project, or use the following shell to create your risk management plan:

Risk Management Strategy and Plan Document Shell

Use Microsoft Word

Title Page

Course number and name

Project name

Student name

Date

Table of Contents

Use autogenerated TOC

Separate page

Maximum of 3 levels deep

Be sure to update the fields of the TOC so it is up-to-date before each submission.

Section Headings (create each heading on a new page with TBD as content except for the sections you are working on each week)

Project Outline

Risk Management Justification

Project Risk Identification

Project Risk Analyses

Project Risk Response Strategy

Project Risk Monitoring 

Project Risk Communications Plan

Part II

Create the document shell using the given template or the criteria above. The section headings should be centered and should each begin at the top of a new page.

Page 1 – Title Page

Page 2 – Table of Contents

Page 3 – Project Outline

Page 4 – Project Risk Identification

Page 5 – Project Risk Analyses

Page 6 – Project Risk Response Strategy

Page 7 – Project Risk Monitoring

Page 8 – Project Risk Communications Plan

Page 9 – References

This week, you will complete the Project Outline section. This is the overview of your project to include the project deliverable. You must include the following in this section:

Describe your project and the project deliverable 

Identify the method for your project: agile or waterfall. Discuss why you chose this method. You will need to explain that again for your Sponsor in a memo in Unit 5.

Discuss the overall risk management strategy for your project

Describe the high levels of risk categories you believe risk events may occur in, such as technological, vendor, customer, employees, government, weather, and so on.

Complete the Project Risk Identification section.

List at least 5 risks for your project. These risks can be in categories such as weather, finances, resources, government oversight, unions, technology, and other areas. 

NOTE: Be sure to include the pages with only section headings and TBD as the content that will be completed in later units

Please submit your assignment. For assistance with your assignment, please use your text, Web resources, and all course materials, including the Project Management Center.

References

Alexander, M. (2015, December 30). 6 strategic projects any business can implement in 2016. CIO. Retrieved from http://www.cio.com/article/3017781/project-management/6-strategic-projects-any-business-can-implement-in-2016.html

Project Management Institute (2017). Project management body of knowledge (PMBOK® Guide) - Sixth Edition, Project Management Institute Inc., 2017.

Rutgers. (2017). Sample projects. Retrieved from http://www.business.rutgers.edu/mba-team-consulting/samples