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Select an organization you are familiar with as the basis of the paper.

Read the following scenario for the selected organization:

Risk involves uncertainty, the lack of knowledge of future events, and the measures of profitability and consequences of not achieving the project goal. Your organization has decided that to be successful in the global economy it must expand its supply base into China or another country approved by your instructor. This has become a strategic project for the organization.

Resource: Figure 11-4 in A Guide to the Project Management Body of Knowledge (PMBOK®Guide)

Write a 1,400- to 2,100-word paper in which you address the following risk management items for this supplier global expansion project:

· Describe the objectives and goals, tools and techniques, and organizational roles and responsibilities for effective risk management for the project.

· Describe various information sources that may be used by the project team for risk identification.

· Identify and describe the risk management documentation that will be required for the project. Examples include RMP and risk management log or register.

· Explain the role of risk management in the project planning process.

Create a risk breakdown structure, which outlines the organization's risk categories. See Figure 11-4 in the PMBOK® Guide. Consider the following categories:

· Project risks

· Business

· Contract relationships with customers and suppliers

· Management

· Political

· Organizational risks

· Project management risks

· Cost estimates

· Schedule estimates

· Communication

· Technical risks

· Production risks

· Manufacturing concerns

· Logistics

· Support risks

· Maintainabilit

· Warranty

· External risks

· Procurement

· Material availability

· Lead times

· Quality

· Market

Part 2

Continue using the organization you have selected in Week 2.

Your organization has determined that more resources are required to complete the project's risk management process for the expansion into China or another country approved by your instructor. Your team has been asked to perform a risk analysis, develop risk responses, and determine how the project will monitor and control risks.

Resource: Risk Breakdown Structure from Part I and University of Phoenix Material: Risk Project Log

Write a 1,050- to 1,400-word paper in which you do the following:

· Identify the risks associated with the supplier expansion. Document those risks in the Risk Project Log template.

· Perform a qualitative risk analysis using risk probability and impact analysis.

· Perform quantitative risk analysis.

· Determine and document the criteria used to determine which risks will have a risk response plan.

· Outline the timing--when and how often--of the risk management process in the project life cycle, including risk monitoring and controlling processes. Consider the following:

· Risk reassessment

· Risk audits

· Status meetings