Discuss why risk management is so important to the success of the selected project

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Project Selection:

The first step will be to select a project that you to develop a risk management strategy and plan for. This project will be used as the basis for each of the assignments throughout the course and should conform to the following guidelines:

Nontrivial: The selected project candidate should reflect a real-life project that has at least the major milestones identified.
Domain Knowledge: You will be applying knowledge of this project to address assignments related to identifying and analyzing risks.
Select a project that fits these requirements, and submit your proposal to your instructor before proceeding further with the assignments in the course. Approval should be sought within the first few days of the course. Your instructor will tell you how to submit this proposal and what notification will be given for project approval.

Assignment:

Your first task in this process will be to select a project to use as the basis of your Key Assignment. You will also create the shell document for the final project Key Assignment document deliverable that you will be working on throughout the course. As you proceed through each project phase, you will add content to each section of the final document to gradually complete the final project delivery, which is the Risk Management Strategy and Plan.

The following project deliverables:

  • Risk Management Justification
  • Project Risks Identification
  • Project Risks Assessment
  • Project Risks Responses Strategy
  • Project Risks Responsibility Plan
  • Project Risks Monitoring & Control Plan
  • Project Risks WBS & Budget Updates
  • Project Risks Communications Plan

    Discuss why risk management is so important to the success of the selected project in a letter to the project sponsor.
    Describe the steps that will be used to develop the Risk Management Plan.

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