CPMGT300 Wk2 Risk Response Plan

timer Asked: Feb 3rd, 2019
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Question Description

Use the same company/project idea you used in the Week 2 Learning Team assignment. (STARBUCKS)

Write a 1,050- to 1,400-word paper in which you address each of the following items:

  • What is the purpose of a risk response plan?
  • What is a risk owner?
  • Who should be appointed to own risk on a project?
  • What is a risk owner's role in the risk response plan?
  • How should a project manager assess and deal with risk?
  • List and describe the most common areas of the project where risks can originate.
  • List and discuss at least two types of risk for each area.
  • In the project you discussed in Week 1, what were the risks, and how were they handled? Should they have been handled differently?

Format your paper consistent with APA guidelines.

Tutor Answer

School: UC Berkeley

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Risk Response Plan

Risk response planning is determining ways to reduce or instead eliminate potential threats
to the project in the foreseeable future ("Risk Mitigation and Response Planning," 2017). These
threats should be worked on by project managers to optimize the probability of project success.
For the project manager is responsible for either decrease or increase of threats to the project,
this impact the running of the project. In this prose, we will discuss ways of diminishing threat
and study risk response plan in relation to the Starbucks Company.
Risk response planning is very vital in a project. Risks are inescapable in any project, so as
a project manager, you should be set up for their event. In this exercise, we present four risk
reaction procedures for adverse risks and four risk reaction systems for certain risks! Projects are
unavoidably presented to the earth in which they are actualized ("Project Risks: The Five Most
Common Project Hazards and What to Do About Them; Budgeting and Risk," 2016). This
incorporates the inward authoritative condition and different projects attempted by the
association, and the extreme state, for example, political and monetary conditions in the nation
where the project is based. While as a project manager, you attempt to design a project and
control its exercises however much as could be expected, impromptu occasions will even now
happen in the encompassing condition. These might affect a project either emphatically or
contrarily. Such events are known as risks. The risk of the boarding procedure more often than
excludes four stages: recognizing conceivable risks, evaluat...

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Thanks, good work

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