Assignment 2: Risk Management Plan, business and finance homework help

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Assignment 2: Risk Management Plan 1. 2. 3. 4. 5. 6.        Note: The assignments are a series of papers that are based on the same case, which is located in the Student Center of the course shell. The assignments are dependent upon one another. In this assignment, you will create a risk management plan. You have a budget of $100,000 and a timeline of six (6) months for the plan. Please refer to Figure A-1, Risk Management Plan Template, from Appendix A of the Hillson and Simon text to create the plan. Write an eight to ten (8-10) page Risk Management Plan Component paper in which you: Prepare the Scope and Objectives of the Risk Management Process section of the Risk Management Plan based on the facts presented in the case study. Determine the project size, based on the facts presented in the case study, and provide justification based on Figure 3-4, Example Project Sizing Tool (Chapter 3 of the Hillson and Simon text). Select the risk tools and techniques, and complete the Risk Tools and Techniques section of the Risk Management Plan for both the qualitative and quantitative aspects of the project. Provide a rationale for the selection. Develop the Risk Reviews and Reporting section of the Risk Management Plan based on the project size previously determined. Define the Probability and Impacts section of the Risk Management Plan and justify the values assigned. Define the Risk Thresholds section of the Risk Management Plan and justify the values assigned. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: Apply the concepts of risk management in a project context to develop an appropriate risk management plan as a key element of the project management process. Survey the project sponsor, stakeholders, team membership and key decision influencers to develop a qualitative assessment of the project risks and apply the results to further refine the project risk management plan. Create a schedule of project risk reviews appropriate to the organization and risk including major, minor, and post-project threats and opportunities, including archiving the results of the project risk plan is incorporated into this schedule. Use technology and information resources to research issues in project risk management Write clearly and concisely about project risk management using proper writing mechanics.
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Explanation & Answer

Running Head: WORKERS MOTIVATION

1

Workers Motivation
Student’s Name
Professor’s Name
Course Title
Date

WORKERS MOTIVATION

2

Introduction
This document is the risk management plan for the workers motivation in employees, the
whole plan will aim to motivate employees to work hard and increase the productivity of the
company. The project manager will formulate and implement the whole process to ensure that
the risk process will remain appropriate to deal with the risk level.
Project descriptive
The company has experienced decline in the overall productivity. The management
conducted a survey which lasted for three months and it involved interviewing different
employees. This involved the senior managers, and the subordinate staffs. The survey found out
that employee morale was the main reason of the important drop in the productivity and low
profits the company recorded. The top management has decided to come up with a concrete risk
management plan which will look forward to contain the situation. The whole plan will cover the
long term and the short term plans to achieve it. The management has set aside one hundred U.S
dollars to facilitate the whole process. It has also set a certain committee which will oversee the
implementation; it will be headed by the project manager in which they will report all the
developments to him. They will be entitled to prepare a weekly report on the improvement
achieved which one main report after three months.
Objectives of the plan
The aims of this plan it to take the company to its old day’s glory. As identified in the survey
which was conducted two months ago, the main reason in drop of profit and productivity of the
company has been attributed by lack of employee motivation which has costed the company a

WORKERS MOTIVATION

3

lot. It will aim at making facilitating the educating, awarding incentive and many more factors to
ensure that they feel they are part and parcel of the company. This approach will identify access
and mitigate the risks where possible and keep on monitoring the risks situation. The plan will
empower the employees through training to increase their knowledge about their job. It will also
have a committee which will deal with private issues which affect the employees; they will be
responsible in assisting the employees for psychological support to prevent absenteeism in work.
The plan will consider the improvement of the negative aspects of the risk and improve the
positive side.
Aim and scope of the process
The motivation project risk management process will aim to tackle the foreseeable risks
and highlight both the threats and opportunities involved. This will be conducted in a manner
that is proactive and appropriate to ensure efficiency, through maintaining risk exposure and
minimum level. The company will adopt some risk activities to try to achieve the main objective
of this plan.
Risk assessment and identification
Absenteeism it the major factor which may affect the achievement of the plan.it is caused
by many circumstances which include family issues. Every month, many employees are absent
in work from unclear situatio...


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