Project Risk Management

Nov 3rd, 2014
Business Finance
Price: $180 USD

Question description

Part 1      500-600 words

Review and reflect on the knowledge that you have gained from this course. Based on your review and reflection

What were the most compelling topics that you learned in this course?

  • How did participating in discussions help your understanding of the subject matter? Is anything still unclear that could be clarified?
  • What approaches could have yielded additional valuable information?

Part 2 Deliverable Length: 4,000–8,000 words, including the deliverables from previous weeks

In previous weeks, you selected a project around which to develop your Risk Management Strategy and Plan Key Assignment. In Week 1, you crafted a letter to the project sponsor explaining the importance of project risk management. You also determined the high-level steps for conducting risk assessment and brainstormed on some of the risk categories. In Week 2, you fully identified the individual project risks and analyzed them by determining their likelihood and impact. In Week 3, you determined the mitigation strategies, which might include prevention, control, or ignoring the risk. In Week 4, you developed a project risks matrix with all of the information that you gathered in Weeks 2 and 3, and you developed a risk monitoring and control approach and plan.

Now you are ready to embark on adding all of the risk management tasks to the overall project plan, as well as producing a well-thought-out communications plan. In the final week, you will also revise the Key Assignment draft document based on feedback from your instructor and peers. Under the last sections, which are not filled in, you will develop a very detailed WBS, contingency budget, and communications plan.


the overall project deliverables are the following:

  1. Update previously completed sections based on instructor feedback.
  2. Complete "New Content" below, and copy it under the appropriate sections in Key Assignment Document called "Project Risks WBS and Budget Updates" and "Project Risks Communication Plan."
    • New Content
      • Project Risks WBS and Budget Updates
        • Identify the additional tasks that are associated with planning, monitoring, and controlling risks.
        • Put this in a WBS structure so that they can be added to an existing plan.
        • Determine a contingency budget to mitigate the risks that are most likely to occur.
        • Determine additions to the project plan budget to monitor and control risks.
    • Project Risks Communications Plan
      • Identify the stakeholders that communications should go to.
      • Determine the frequency of communications.
      • Construct the types of reports and how they will be delivered.
      • Discuss how this might be integrated into the change management process.
      • Define who has the final authority for sign-off to extract from the contingency budget to mitigate risks.
  3. Update the Key Assignment title page with a new date and project name.
  4. Update previously completed sections based on instructor feedback.
  5. Be sure to update your table of contents before submission.

Tutor Answer

(Top Tutor) agneta
School: Purdue University

Studypool has helped 1,244,100 students

Review from student
" Excellent job "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1819 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors