Project Risk Management Plan
ljjoy
project_risk_initiation_u01a1.docxProject Risk Initiation (Assignment 1 – u01a1)
[GUIDANCE: Please provide a brief description of the project this risk management plan is integrated with. Provide a brief description of the problem(s), budget, timeline and scope, stakeholders, et cetera.]
[GUIDANCE: That is, costs within budget threshold; time within schedule threshold; quality of projects with threshold; these objectives will be used in association with the identification of risks.)
Risk Thresholds and Tolerances Definitions
[GUIDANCE: Describe how much risk is acceptable by each key stakeholder for each project objective.]
Probability/Impact Scale Definitions Table
[GUIDANCE: *This is an example: Opportunities represent positive impacts to both project exposure and objectives; threats represent negative impacts to both project exposure and objectives. Below are example tables . You can replace with your own definitions table. Add a legend to explain definitions.]
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SCALE |
PROBABILITY (%) |
+/- IMPACT ON PROJECT OBJECTIVES |
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TIME* |
COST* |
QUALITY* |
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Very High |
> 95% |
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High |
> 80% < 94 % |
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Medium |
> 65% < 79% |
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Low |
> 35% < 64% |
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Very Low |
< 34% |
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Legend of Impacts to Project Objectives:
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Scale |
Time |
Cost |
Quality |
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Very High |
Project Schedule will be pushed out more than 20 days |
Costs will exceed the approved budget by $100k or 25% |
Number of defects will significant impacts to customer acceptance |
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High |
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Medium |
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Low |
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Very Low |
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Risk Breakdown Structure (RBS)
[GUIDANCE: Define the potential sources of risk of your project. Your first level should be RBS Level 0 (Left-hand side – All Risks); next your RBS Level 1 will be your categories of risks (that is, technical risk, financial risk, regulatory risks, et cetera); next level – RBS Level 2 will be your risks used in your risk identification/assignment and project review sections. Can be completed in Excel or Visio; copy/paste in section and add an introduction.]
