Bus519 Project Risk Management – week 4 Assignments

BUS519

·         Assignment 2:Risk Management Plan

Due Week 4

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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:

1.    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.

2.    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).

3.    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.

4.    Develop the Risk Reviews and Reporting section of the Risk Management Plan based on the project size previously determined.

5.    Define the Probability and Impacts section of the Risk Management Plan and justify the values assigned.

6.    Define the Risk Thresholds section of the Risk Management Plan and justify the values assigned.

 

Week 4 Discussion

“Identifying and Mitigating Risks” Please respond to the following:

·         Imagine you are considering opening a business. Share the type of business you would open. Then, create a list of the five (5) most significant risks that you must address prior to making your decision regarding the viability of your venture. Justify the risks.

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