Project Management - Prof Eulid Peterson

PM3110: Module 3 Team Building, Communications, and Risk Management

Exercise 3.1

Risk Management Plan

1

In Exercise 2.1 in Module 2, you created a scoring model that showed the best project to select based on

weighted scoring. When you presented the results to your organization, the head of the business segment

stated that they’d already chosen what project they wanted to complete without the data you obtained

from the scoring method. The project that was chosen was not one of the three projects on your list. The

business sponsor is very adamant that the project they selected is the one that is to be completed. As the

project manager, you will ultimately be responsible for completing the project on time and within budget.

You feel the best way to deal with this issue is to create a risk management plan that shows all the possible

risks in not choosing one of the projects that was initially scored.

Based on the given scenario, develop a risk management plan that contains a minimum of four risks you

identified. Your plan should address the following:

 What is the risk identified?

 What is the probability of the risk occurring?

 What is the impact of it occurring?

 What is the remediation plan for that risk?

Submission Requirements:

Submit your responses in a Microsoft Word document of the following specifications:

 Font: Arial, Size: 12 point

 Length: 1–2 pages

 Line Spacing: Double

Evaluation Criteria:

The Exercise rubric will be used to evaluate this assessment. In addition to the rubric, you will be evaluated

on the following points:

 Did you discuss the risk identification that has occurred with the project?

 Did you review the probability and consequences of choosing a different project?

 Did you state any risk mitigation strategies that you will put in place to ensure a successful project?